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作者：Ductor, Lorenzo; Leiva-Leon, Danilo
作者单位：Middlesex University; Central Bank of Chile
摘要：In this paper, we provide a comprehensive analysis of the time-varying interdependence among the economic cycles of the major world economies during the post-Great Moderation period. We document a significant increase in the global business cycle interdependence occurred in the early 2000s. Such increase is mainly attributed to the emerging market economies, since their business cycles became more synchronized with the rest of the world around that time. Moreover, we find that the increase in ...
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作者：McManus, T. Clay; Schaur, Georg
作者单位：University System of Ohio; Xavier University; University of Tennessee System; University of Tennessee Knoxville
摘要：Occupational health is an important determinant of workers' welfare. Existing mechanisms and evidence from the international trade and occupational safety literatures combine to predict that import competition impacts work place injuries, especially at small firms that are most affected by foreign imports. We examine this prediction with novel data on injuries at US manufacturers using Chinese import growth in 1996-2007 as a shock to competition. The data show that injury rates in the competin...
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作者：Giordani, Paolo E.; Rocha, Nadia; Ruta, Michele
作者单位：Luiss Guido Carli University; World Trade Organization; The World Bank
摘要：This work studies the relationship between trade policy and food prices. We show that when individuals are loss averse, governments may use trade policy to shield the domestic economy from large food price shocks. This creates a complementarity between the price of food in international markets and trade policy. Specifically, unilateral actions give rise to a multiplier effect: when a shock drives up the price of food, exporters respond by imposing restrictions, while importers wind down prote...
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作者：Cingano, Federico; Pinotti, Paolo
作者单位：Organisation for Economic Co-operation & Development (OECD); European Central Bank; Bank of Italy; Bocconi University
摘要：Interpersonal trust favors the delegation of decisions and tasks within firms, allowing the expansion of more productive units. We show that this interaction between trust and firm organization contributes to shaping the pattern of comparative advantage: high-trust regions and countries exhibit larger value-added and export shares in delegation-intensive industries relative to other industries. Consistent with the idea that trust allows firms to expand beyond a narrow circle of family members ...
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作者：Frankel, Jeffrey A.; Giavazzi, Francesco; Rey, Helene
作者单位：Harvard University; Bocconi University; University of London; London Business School
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作者：Andrade, Philippe; Zachariadis, Marios
作者单位：European Central Bank; Bank of France; University of Cyprus
摘要：A number of recent papers point to the importance of distinguishing between the price reaction to macro and micro shocks. We emphasize instead the importance of distinguishing between global and local shocks. We exploit a panel of 276 micro price levels collected on a semi-annual frequency over two decades in 59 countries around the world, that enables us to distinguish between different types (global and local) of macro and micro shocks. We find that global macro and micro shocks are always a...
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作者：Ariu, Andrea
作者单位：University of Geneva; Georgetown University
摘要：During the 2008-2009 crisis, trade in goods fell by almost 30%. In contrast, trade in business, telecommunication and financial services continued growing at their pre-crisis rates and only services related to transport declined. Using trade data at the firm-product-destination level for Belgium, I show that during the crisis the elasticity of services exports with respect to GDP growth in destination countries was significantly different from that of goods exports. In particular, the negative...
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作者：Bernhofen, Daniel M.; El -Sahli, Zouheir; Kneller, Richard
作者单位：American University; Leibniz Association; Ifo Institut; Lund University; University of Nottingham
摘要：Many historical accounts have asserted that containerization triggered complementary technological and organizational changes that revolutionized global freight transport. We are the first to suggest an identification strategy for estimating the effects of the container revolution on world trade. Our empirical strategy exploits time and cross-sectional variation in countries' first adoption of container facilities and combines it with product-level variation in containerizability and container...
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作者：Hadjiyiannis, Costas; Heracleous, Maria S.; Tabakis, Chrysostomos
作者单位：University of Cyprus; University of Cyprus; KDI School of Public Policy & Management; International Monetary Fund
摘要：We investigate the implications of preferential trade agreements (PTAs) for interstate conflict. We set up a two-stage game with three competing importers, where first, two of the countries decide on whether to initiate war against each other, and subsequently, all three countries select their import tariffs. We show that PTAs produce both a peace-creation effect and a peace-diversion effect, whereby they reduce the likelihood of conflict between member countries (peace creation), but render t...
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作者：Ishise, Hirokazu
作者单位：University of Osaka
摘要：This paper considers how heterogeneity in capital goods affects international trade patterns, and shows a novel source of comparative advantage: the magnitude of heterogeneity in capital goods. Capital goods are heterogeneous in their vintage and productivity, and due to capacity constraints, only productive capital goods are activated in the equilibrium. Through this selection, the distribution of capital goods determines industry-level productivity: industry-level productivity is higher in a...
