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作者：Nocco, Antonella; Ottaviano, Gianmarco I. P.; Salto, Matteo
作者单位：University of Salento; Bocconi University
摘要：How should multilateral trade policy be designed in a world in which countries differ in terms of market access and technology, and firms with market power differ in terms of productivity? We answer this question in a model of monopolistic competition in which variable markups increasing in firm size are a key source of misallocation across firms and countries. We use 'disadvantaged' to refer to countries with smaller market size, worse state of technology (in terms of higher innovation and pr...
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作者：Goldbach, Stefan; Nagengast, Arne J.; Steinmueller, Elias; Wamser, Georg
作者单位：Deutsche Bundesbank; Eberhard Karls University of Tubingen; Leibniz Association; Ifo Institut
摘要：This paper examines the relationship between foreign and domestic investment activity of multinational enterprises. The empirical analysis is based on micro data of German firms and their operations at home and abroad, including information on investment in fixed assets. The empirical approach, which rests upon extensive and intensive margin variation, is shown to produce very robust results. These suggest a positive relationship between foreign and home investment in real capital. This positi...
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作者：Asquith, Brian; Goswami, Sanjana; Neumark, David; Rodriguez-Lopez, Antonio
作者单位：W.E. Upjohn Institute for Employment Research; University of California System; University of California Irvine; National Bureau of Economic Research; IZA Institute Labor Economics; Leibniz Association; Ifo Institut; Universidad Autonoma de Baja California
摘要：International trade exposure affects job flows along the intensive margin (from expansions and contractions of firms' employment) as well as along the extensive margin (from births and deaths of firms). This paper uses 1992-2011 employment data from U.S. establishments to construct job flows at both the industry and commuting-zone levels, and then estimates the impact of the 'China shock' on each job-flow type. Using the two most influential measures of Chinese exposure, we find that the China...
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作者：Docquier, Frederic; Iftikhar, Zainab
作者单位：Universite Catholique Louvain; Fonds de la Recherche Scientifique - FNRS; University of Bielefeld; Goethe University Frankfurt
摘要：This paper revisits the effect of brain drain on development and inequality using a two-sector model with formal and informal labor markets. Contrary to existing studies, we use a search-and-matching setting that allows to endogenize the employment structure and the wage differentials between different skill groups in the same sector, and between workers with identical skills employed in different sectors. Theoretically, the brain drain induces ambiguous welfare effects for those left behind a...
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作者：Frankel, Jeffrey; Rey, Helene
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作者：Epstein, Brendan; Shapiro, Alan Finkelstein; Gonzalez Gomez, Andres
作者单位：University of Massachusetts System; University of Massachusetts Lowell; Tufts University; Banco de la Republica Colombia
摘要：We use a panel structural vector autoregression methodology to study the impact of global financial risk shocks in emerging market economies (EMEs) versus small open advanced economies (SOAEs). The short-term responses of GDP, investment, and un- employment are similar in EMEs compared to SOAEs, but their medium-term responses differ considerably. In EMEs the shock propagates less across GDP and investment, and the response of unemployment is prominently more subdued. Further analysis suggests...
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作者：Cociuba, Simona E.; Ramanarayanan, Ananth
作者单位：Western University (University of Western Ontario)
摘要：Asset price data imply a large degree of international risk sharing, while aggregate consumption data do not. We show that a model with trade in goods and endogenously segmented asset markets can account for this puzzling discrepancy. Active households who pay a fixed cost to transfer money into or out of assets share risk within and across countries, and their marginal utility growth prices assets, so asset prices imply high risk sharing. Inactive households consume their current income and d...
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作者：De Haas, Ralph; Poelhekke, Steven
作者单位：European Bank of Reconstructon & Development; Vrije Universiteit Amsterdam; Vrije Universiteit Amsterdam; Center for Economic & Policy Research (CEPR); Tilburg University; University of Auckland; Leibniz Association; Ifo Institut
摘要：We estimate the impact of local mining activity on the business constraints experienced by 25,777 firms across nine large and resource-rich countries. We find that the presence of active mines in firms' immediate vicinity (<20 km) deteriorates the business environment in tradeable sectors. Access to inputs and infrastructure becomes more constrained for these firms and this adversely affects their growth. In contrast, nearby active mines have a positive effect on firms in non-tradeable sectors...
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作者：Baier, Scott L.; Yotov, Yoto V.; Zylkin, Thomas
作者单位：Clemson University; Drexel University; University of Richmond; Leibniz Association; Ifo Institut
摘要：We develop a novel two stage methodology that allows us to study the empirical determinants of the ex post effects of past free trade agreements (FTAs) as well as obtain ex ante predictions for the effects of future FTAs. We first identify 908 unique estimates of the effects of FTAs on different trading pairs for the years 1986-2006. We then employ these estimates as our dependent variable in a second stage analysis characterizing the heterogeneity in these effects. Interestingly, most of this...
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作者：Jung, Jae Wook; Simonovska, Ina; Weinberger, Ariel
作者单位：Korea Institute for International Economic Policy (KIEP); University of California System; University of California Davis; National Bureau of Economic Research; University of Oklahoma System; University of Oklahoma - Norman
摘要：We quantify a general equilibrium model of international trade and pricing-to-market that features firm-level heterogeneity and consumers with non-homothetic preferences-generalized CES (GCES). We demonstrate theoretically that, relative to existing frameworks, the GCES model exhibits features of the data that are essential to conduct quantitative analysis. The framework can reconcile the documented price dispersion across firms and markets, while maintaining consistency with cross-sectional o...
