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作者：Davidson, Carl; Heyman, Fredrik; Matusz, Steven; Sjoholm, Fredrik; Zhu, Susan Chun
作者单位：Michigan State University; Research Institute of Industrial Economics (IFN); Lund University
摘要：This paper focuses on the ability of the labor market to efficiently match heterogeneous workers to jobs within a given industry and the role that globalization plays in that process. Using matched worker-firm data from Sweden, we find strong evidence that openness improves the matching between workers and firms in industries with greater comparative advantage. This suggests that there may be significant gains from globalization that have not been identified in the past globalization may impro...
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作者：Maystre, Nicolas; Olivier, Jacques; Thoenig, Mathias; Verdier, Thierry
作者单位：Hautes Etudes Commerciales (HEC) Paris; University of Lausanne; Centre for Economic Policy Research - UK; Institut Polytechnique de Paris; Ecole des Ponts ParisTech; Paris School of Economics
摘要：We provide a model of product-based cultural change where trade integration leads to cultural convergence. A standard trade model of Dixit-Stiglitz monopolistic competition is coupled with a micro-founded model of cultural dynamics. We show that access to varieties that are attached to a global cultural type changes the incentives of parents to socialize their children and transmit their type. The resulting increase in agents of the global cultural type leads to a magnification of the initial ...
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作者：Blonigen, Bruce A.; Fontagne, Lionel; Sly, Nicholas; Toubal, Farid
作者单位：University of Oregon; National Bureau of Economic Research; Leibniz Association; Ifo Institut; Universite Paris Saclay
摘要：This paper develops a model of cross-border M&A activity that features firm-level productivity shocks and endogenous export activity. We show that foreign firms will be relatively more attracted to targets in the domestic country that had high productivity levels that induced them to invest in large export networks several years prior to acquisition, but subsequently experienced a negative productivity shock (i.e., cherries for sale). From the theory we derive a dynamic panel binary choice emp...
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作者：Dias, Daniel A.; Richmond, Christine; Wright, Mark L. J.
作者单位：International Monetary Fund; Federal Reserve System - USA; Federal Reserve Bank - Chicago; National Bureau of Economic Research
摘要：The stock of sovereign debt is typically measured at face value. Defined as the undiscounted sum of future principal repayments, face values are misleading when debts are issued with different contractual forms or maturities. In this paper, we construct alternative measures of the stock of external sovereign debt for 100 developing countries from 1979 through 2006 that correct for differences in contractual form and maturity. We show that our alternative measures: (1) paint a very different qu...
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作者：Fernandes, Ana P.; Tang, Heiwai
作者单位：University of Exeter; Johns Hopkins University; Leibniz Association; Ifo Institut
摘要：This paper studies how learning from neighboring firms affects new exporters' performance. We develop a statistical decision model in which a firm updates its prior belief about demand in a foreign market based on several factors, including the number of neighbors currently selling there, the level and heterogeneity of their export sales, and the firm's own prior knowledge about the market. A positive signal about demand inferred from neighbors' export performance raises the firm's probability...
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作者：Simonovska, Ina; Waugh, Michael E.
作者单位：University of California System; University of California Davis; National Bureau of Economic Research; New York University
摘要：Quantitative results from a large class of structural gravity models of international trade depend critically on the elasticity of trade with respect to trade frictions. We develop a new simulated method of moments estimator to estimate this elasticity from disaggregate price and trade-flow data and we use it within Eaton and Kortum's (2002) Ricardian model. We apply our estimator to disaggregate price and trade-flow data for 123 countries in the year 2004. Our method yields a trade elasticity...
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作者：Huett, Hannes; Krapf, Matthias; Uysal, S. Derya
作者单位：University of Konstanz; University of Zurich
摘要：Using unique data from an internet-based foreign-exchange trading platform, we show that the black market efficiently incorporated public information on the state of the Belarusian economy during the Balance of Payments crisis of 2011. Between May and October 2011, the government repeatedly devalued the Belarusian ruble and eventually abandoned its fixed exchange rate regime. Measures derived from black market transaction data have significant predictive power for these devaluations. The signi...
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作者：Santos Silva, J. M. C.; Tenreyro, Silvana; Wei, Kehai
作者单位：University of Essex; Universidade de Lisboa; University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK
摘要：Understanding and quantifying the determinants of the number of sectors or firms exporting in a given country is of relevance for the assessment of trade policies. Estimation of models for the number of exporting sectors, however, poses a challenge because the dependent variable has both a lower and an upper bound, implying that the partial effects of the explanatory variables on the conditional mean of the dependent variable cannot be constant. We argue that ignoring these bounds can lead to ...
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作者：Michaud, Amanda; Rothert, Jacek
作者单位：Indiana University System; Indiana University Bloomington; United States Department of Defense; United States Navy; United States Naval Academy
摘要：Chinese high growth has been accompanied by government restrictions on international borrowing (capital controls). In this paper, we ask: are such restrictions a useful policy tool to facilitate growth? We provide a theory of borrowing constraints on households as a tool to correct a learning-by-doing externality. Borrowing constraints operate as a policy tool through two channels: (i) increasing labor supply and (ii) reallocating labor towards traded goods. We find that welfare gains are clos...
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作者：Tong, Hui; Wei, Shang-Jin
作者单位：International Monetary Fund; Asian Development Bank; Columbia University; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR)
摘要：Trade globalization may affect corporate transparency via multiple channels, with potentially opposite signs. We aim to empirically disentangle these channels by tracking evolution of corporate transparency for 4061 listed firms in tradable sectors in 49 countries during 1992-2005. By using detailed tariff schedules, we measure changes in growth opportunities and product market competition enabled by foreign and domestic trade liberalizations, respectively. On the one hand, higher growth oppor...
