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作者：Anderson, James E.; Vesselovsky, Mykyta; Yotov, Yoto V.
作者单位：Boston College; National Bureau of Economic Research; Drexel University; Leibniz Association; Ifo Institut; Bulgarian Academy of Sciences
摘要：This paper extends the structural gravity model to incorporate scale effects and exchange rate passthrough. Bilateral scale effects in cross-border trade are inferred from the difference in distance elasticities between cross border and inter-provincial bilateral trade in a majority of 28 goods and services sectors for Canada's provinces. Bilateral-specific relationship investment is a possible explanation. Incomplete passthrough of large exchange rate changes from 1997 to 2007, amplified by s...
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作者：Han, Jun; Liu, Runjuan; Marchand, Beyza Ural; Zhang, Junsen
作者单位：Renmin University of China; University of Alberta; University of Alberta; Chinese University of Hong Kong
摘要：This paper investigates the tariff pass-through mechanism and the distributional effects of trade liberalization in urban China. We study how market structure, specifically the size of the private sector, affects tariff pass-through, and how this mechanism influenced the extent to which households benefited from the trade liberalization. Our results suggest that a higher share of private sector in Chinese cities is associated with higher levels of tariff pass through rates. This effect works b...
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作者：Blanchard, Emily; Willmann, Gerald
作者单位：Dartmouth College; University of Bielefeld; Leibniz Association; Institut fur Weltwirtschaft an der Universitat Kiel (IFW)
摘要：We develop a new model of trade in which educational institutions drive comparative advantage and the distribution of human capital within and across countries. Our framework exploits a multiplicity of sectors and a continuous support of human capital choices to demonstrate that freer trade can induce crowding out of the middle occupations toward the skill acquisition extremes in one country and simultaneous expansion of middle-income industries in another. Individual gains from trade may be n...
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作者：Araujo, Luis; Mion, Giordano; Ornelas, Emanuel
作者单位：Centre for Economic Policy Research - UK; University of Sussex; University of Sussex
摘要：We study how contract enforcement and export experience shape firm export dynamics in an environment with incomplete information. We show that exporters start with higher volumes and sell for longer periods in countries with better contracting institutions and when they have prior foreign experience. However, conditional on survival, firm export growth decreases with the quality of the country's institutions. Controlling for time-varying firm unobservables and other factors, we confirm these a...
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作者：Ramondo, Natalia; Rappoport, Veronica; Ruhl, Kim J.
作者单位：University of California System; University of California San Diego; National Bureau of Economic Research; University of London; London School Economics & Political Science; University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK; New York University
摘要：Using firm-level data, we document two new facts regarding intrafirm trade and the activities of the foreign affiliates of U.S. multinational corporations. First, intrafirm trade is concentrated among a small number of large affiliates within large multinational corporations; the median affiliate ships nothing to the rest of the corporation. Second, we find that the input-output coefficient linking the parent's and affiliate's industries of operation a characteristic commonly associated with p...
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作者：Kasahara, Hiroyuki; Liang, Yawen; Rodrigue, Joel
作者单位：University of British Columbia; Vanderbilt University; Xiamen University; Xiamen University
摘要：This paper examines whether starting to import contributes to skill upgrading among Indonesian plants. Our data records the distribution of years of employee schooling in each plant. We examine how starting to import affects the demand for highly educated workers within and across production and non-production occupations categories at the plant level. We estimate a model of importing and skill-biased technological change in which selection into importing arises due to unobservable heterogenou...
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作者：Ourens, Guzman
作者单位：Universite Catholique Louvain
摘要：In a recent paper, Baldwin and Robert-Nicoud (2008) explore the growth and welfare effects of trade liberalization in a model with firm heterogeneity that allows for endogenous growth and a diversity of innovation mechanisms. Their main welfare conclusion is that freer trade has an unambiguously positive static effect while the sign of the dynamic effect, stemming from the change in the growth rate of varieties, depends on the type of technology imposed for innovations. This paper revisits the...
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作者：Zlate, Andrei
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Boston
摘要：To examine the effect of offshoring through vertical FDI on the international transmission of business cycles, I propose a two-country model in which firms endogenously choose the location of their production plants over the business cycle. Firms face a sunk cost to enter the domestic market and an additional fixed cost to produce offshore. As such, the offshoring decision depends on the firm-specific productivity and on fluctuations in the relative cost of effective labor. The model generates...
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作者：David, Joel M.; Simonovska, Ina
作者单位：University of Southern California; University of California System; University of California Davis; National Bureau of Economic Research
摘要：Firm-level stock returns exhibit comovement above that in fundamentals, and the gap tends to be higher in developing countries. We investigate whether correlated beliefs among sophisticated, but imperfectly informed, traders can account for the patterns of return correlations across countries. We take a unique approach by turning to direct data on market participants' information namely, real-time firm-level earnings forecasts made by equity market analysts. The correlations of firm-level fore...
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作者：Dellas, Harris; Niepelt, Dirk
作者单位：University of Bern; Study Center Gerzensee; University of Bern
摘要：We develop a sovereign debt model with heterogeneous creditors (private and official) where the probability of default depends on both the level and the composition of debt. Higher exposure to official lenders improves incentives to repay due to more severe sanctions but it is also costly because it lowers the value of the sovereign's default option. The model can account for the co-existence of private and official lending, the time variation in their shares in total debt as well as the low r...
