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作者：Lyon, Spencer G.; Waugh, Michael E.
作者单位：New York University; National Bureau of Economic Research
摘要：Should a nation's tax system become more progressive as it opens to trade? Does opening to trade change the benefits of a progressive tax system? We answer these question within a standard incomplete markets model with frictional labor markets and Ricardian trade. Consistent with empirical evidence, adverse shocks to comparative advantage lead to labor income losses for import-competition-exposed workers: with incomplete markets, these workers are imperfectly insured and experience welfare los...
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作者：Krieger, Tim; Renner, Laura; Ruhose, Jens
作者单位：University of Freiburg; Leibniz Association; Ifo Institut; Leibniz University Hannover; IZA Institute Labor Economics
摘要：This paper studies the effect of the long-term relatedness between countries, measured by their genetic distance, on educational migrant selection. Analyzing bilateral migrant stocks of the 15 main destination countries and 85 sending countries for the year 2000, we find that migrant selection and genetic distance follow a nonlinearJ-shaped pattern: at low levels of genetic distance, increases in genetic distance reduce the positive selection of migration. However, at higher levels of genetic ...
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作者：Frankel, Jeffrey; Rey, Helene
作者单位：Harvard University; National Bureau of Economic Research; University of London; London Business School
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作者：Gete, Pedro; Melkadze, Givi
作者单位：IE University; Georgetown University
摘要：Changes in country-specific aggregate volatility are positively correlated with the current account but negatively correlated with investment, output and credit flows. An International Real Business Cycle model with time-varying aggregate uncertainty, through a precautionary savings channel, can account for the positive correlation but implies counterfactual comovements for the other variables. Adding a credit supply channel with default and lenders exposed to aggregate risk allows the model t...
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作者：McCalman, Phillip
作者单位：University of Melbourne
摘要：This paper studies the relationship between income distribution and international integration in a canonical trade setting with one change. In the standard model prices are solely a function of (constant) marginal costs and (constant) elasticities, implying that information on individual incomes are of no value to a firm. To allow a more realistic role for consumer level information, a firm's strategy space is expanded to include non-linear prices. Now profit maximizing firms use information o...
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作者：Soderbery, Anson
作者单位：Purdue University System; Purdue University
摘要：We develop a structural estimator for heterogeneous supply and demand in the absence of instrumental variables. Using only readily available bilateral trade data we show how to leverage variation in prices and quantities across multiple markets in order to consistently estimate heterogeneous elasticities. Our elasticity estimates follow intuitive patterns of importer and exporter market power and produce believable distributions and magnitudes. To highlight the flexibility of the estimator, we...
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作者：Carballo, Jeronimo; Ottaviano, Gianmarco I. P.; Martincus, Christian Volpe
作者单位：University of Colorado System; University of Colorado Boulder; Bocconi University; University of London; London School Economics & Political Science; University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK; Inter-American Development Bank
摘要：We use detailed data on exporters from Costa Rica, Ecuador and Uruguay as well as on their buyers to show that: aggregate exports are disproportionally driven by few multi-buyers exporters; and each multi buyer exporter's foreign sales of any product in a given destination are in turn accounted for by a dominant buyer. We propose an analytically solvable multi-country model of endogenous selection in which dominant exporters, dominant products and dominant buyers emerge in parallel as multi-pr...
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作者：Han, Xuehui; Wei, Shang-Jin
作者单位：Asian Development Bank; Columbia University; National Bureau of Economic Research; Centre for Economic Policy Research - UK
摘要：This paper re-examines international transmissions of monetary policy shocks from advanced economies to emerging market economies. In terms of methodologies, it combines three novel features. First, it separates co-movement in monetary policies due to common shocks from spillovers of monetary policies from advanced to peripheral economies. Second, it uses revisions in growth and inflation and the Taylor rule to gauge desired changes in a country's interest rate if it is to focus exclusively on...
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作者：Gervais, Antoine
作者单位：University of Sherbrooke
摘要：In this paper, I study the impact of uncertainty in the delivery of inputs on international trade patterns. I develop a model of sourcing decisions where risk-averse managers can contract with multiple suppliers in order to decrease the variability of firm profits. Among other results, the model predicts that firms will buy a larger share of their inputs from low price variability suppliers, and that the distribution of input demand across suppliers will be more dispersed in input markets char...
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作者：Fatas, Antonio; Summers, Lawrence H.
作者单位：INSEAD Business School; Harvard University; National Bureau of Economic Research
摘要：The global financial crisis has permanently lowered the path of GDP in all advanced economies. At the same time, and in response to rising government debt levels, many of these countries have been engaging in fiscal consolidations that have had a negative impact on growth rates. We empirically explore the connections between these two facts by extending to longer horizons the methodology of Blanchard and Leigh (2013) regarding fiscal policy multipliers. Our results provide support for the pres...
