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作者：Fan, Jingting; Tang, Lixin; Zhu, Weiming; Zou, Ben
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Jinan University; University of Navarra; IESE Business School; Michigan State University
摘要：Domestic trade costs reduce aggregate welfare and result in worse access to consumption goods in small and remote cities. As a new trade technology, e-commerce can increase inter-city trade and alleviate spatial consumption inequality because it (1) eliminates the fixed cost of market entry, and (2) reduces the effects of distance on trade costs. Using unique data from China's leading e-commerce platform, we provide evidence consistent with these two features: online trade is less hindered by ...
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作者：Li, Bingjing
作者单位：National University of Singapore
摘要：This paper studies the impact of export expansion due to the decline in tariffs faced by exporters on human capital accumulation across China. Following a theoretically consistent approach, I construct regional measures of high- and low-skill export demand shocks using the variation in initial industry composition across regions and differential skill intensities across industries. Using a sub-national data over the period 1990 to 2005, the empirical analysis shows that high-skill export shock...
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作者：Kuersteiner, Guido M.; Phillips, David C.; Villamizar-Villegas, Mauricio
作者单位：University System of Maryland; University of Maryland College Park; University of Notre Dame; Banco de la Republica Colombia
摘要：This paper investigates the effectiveness of sterilized foreign exchange interventions by exploiting a discontinuous policy rule used by the Central Bank of Colombia. We use a unique data set that comprises tick by tick intervention and order book data, daily capital in- and outflows, and balance sheet information of financial institutions. We apply regression discontinuity methods to identify the surprise component of rule-based interventions and use this variation to measure how they affect ...
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作者：Ottaviano, Gianmarco I. P.; Peri, Giovanni; Wright, Greg C.
作者单位：University of London; London School Economics & Political Science; Bocconi University; University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK; University of California System; University of California Davis; National Bureau of Economic Research; University of California System; University of California Merced
摘要：This paper explores the impact of immigrants on the imports, exports and productivity of service-producing firms in the U.K. Immigrants may substitute for imported intermediate inputs (offshore production) and they may impact the productivity of the firm as well as its export costs. The first effect can be understood as the re-assignment of offshore tasks to immigrant workers. The second can be seen as a cost cutting effect due to immigration, and the third as a trade-cost reducing effect. To ...
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作者：Calderon, Cesar; Kubota, Megumi
作者单位：The World Bank; Organisation for Economic Co-operation & Development (OECD)
摘要：Our study investigates the factors driving RER volatility and the properties of both trade and financial openness to stabilize RERs. Therefore, this paper guides us to formulate better economic policies to lower RER variability. Our goal is to test whether the extent and composition of international trade and financial integration would smooth the impact of shocks to the RER for 82 countries from 1974 to 2013. Our findings support existing theoretical models (Obstfeld and Rogoff, 1995; Hau, 20...
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作者：Fan, Haichao; Li, Yao Amber; Yeaple, Stephen R.
作者单位：Fudan University; Hong Kong University of Science & Technology; Hong Kong University of Science & Technology; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; National Bureau of Economic Research; Leibniz Association; Ifo Institut
摘要：This paper presents an analysis of the effect of China's entry into the WTO on the quality choices of Chinese exporters in terms of their outputs and their inputs. Using highly disaggregated firm-level data, we show that the quality upgrading made possible by China's tariff reductions was concentrated in the least productive Chinese exporters. These firms, which had been laggards in terms of quality prior to the tariff reduction, were the most aggressive in increasing the quality of their expo...
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作者：Forbes, Kristin; Hjortsoe, Ida; Nenova, Tsvetelina
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Center for Economic & Policy Research (CEPR); Bank of England; Centre for Economic Policy Research - UK; University of London; London Business School
摘要：A major challenge for monetary policy is predicting how exchange rate movements will impact inflation. We propose a new focus: directly incorporating the underlying shocks that cause exchange rate fluctuations when evaluating how these fluctuations pass through to import and consumer prices. A standard open-economy model shows that the relationship between exchange rates and prices depends on the shocks which cause the exchange rate to move. We build on this to develop a structural Vector Auto...
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作者：Ding, Haoyuan; Fan, Haichao; Lin, Shu
作者单位：Shanghai University of Finance & Economics; Fudan University; Chinese University of Hong Kong
摘要：A key foundation of Chinese-style institutions is that governments at different levels control resources and utilize their power to support businesses connected to them. We examine how this institutional feature affects firm exports. We first provide a simple model to demonstrate the underlying mechanisms. In our model, politically connected firms gain a comparative advantage in contract-intensive and financially-dependent sectors. But political connections also have an adverse effect on firm ...
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作者：Fally, Thibault; Hillberry, Russell
作者单位：University of California System; University of California Berkeley; Purdue University System; Purdue University; National Bureau of Economic Research
摘要：International supply chains require coordination of numerous activities across multiple countries and firms. We adapt a model of supply chains and apply it to an international trade setting. In each chain, the measure of tasks completed within a firm is determined by a tradeoff between transaction costs and diseconomies of scope linked to management of a larger measure of tasks within the firm. The structural parameters that determine firm scope explain variation in supply-chain length and gro...
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作者：Behringer, Jan; van Treeck, Till
作者单位：University of Duisburg Essen
摘要：In this paper, we investigate whether changes in income distribution can explain current account developments in a sample of 20 countries for the period 1972-2007. We analyze the relationship between the personal and the functional income distribution in our sample, before disentangling their effects on the current account. A consistent finding is that rising (top-end) personal inequality leads to a decrease of the current account, controlling for standard current account determinants. By cont...
