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作者：Krishna, Pravin; Poole, Jennifer P.; Senses, Mine Zeynep
作者单位：Johns Hopkins University; University of California System; University of California Santa Cruz; National Bureau of Economic Research
摘要：In this paper, we use a linked employer-employee database from Brazil to evaluate the wage effects of trade reform. With an aggregate (firm-level) analysis of this question, we find that a decline in trade protection is associated with an increase in average wages in exporting firms relative to domestic firms, consistent with earlier studies. However, using disaggregated, employer-employee level data, and allowing for the endogenous assignment of workers to firms due to match-specific producti...
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作者：Backus, David; Cooley, Thomas; Henriksen, Espen
作者单位：New York University; National Bureau of Economic Research; University of California System; University of California Davis
摘要：We consider the role of demographic trends in driving international capital flows in a multicountry overlapping generations model in which saving decisions are tied to agents' life expectancy. Capital flows reflect differences between saving and investment across countries. Demographic changes affect the aggregate accumulation of assets in two ways: by changing life expectancy which changes individual household saving behavior, and by changing the age distribution of the population by which in...
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作者：Alfaro, Laura; Chen, Maggie Xiaoyang
作者单位：Harvard University; National Bureau of Economic Research; George Washington University
摘要：The explosion of multinational activities in recent decades is rapidly transforming the global landscape of industrial production. But are the emerging clusters of multinational production the rule or the exception? What drives the offshore agglomeration of multinational firms in comparison to the agglomeration of domestic firms? Using a unique worldwide plant-level dataset that reports detailed location, ownership, and operation information for plants in over 100 countries, we construct a spa...
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作者：Ma, Yue; Tang, Heiwai; Zhang, Yifan
作者单位：City University of Hong Kong; Johns Hopkins University; Lingnan University
摘要：This paper analyzes how a firm's specialization in its core products after exporting affects its factor intensity and productivity. Using Chinese manufacturing firm data for the 1998-2007 period, we find that firms become less capital-intensive but more productive after exporting, compared to non-exporters that share similar ex ante characteristics. To rationalize these findings that contrast with existing studies, we develop a variant of the model by Bernard, Redding, and Schott (2010, 2011) ...
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作者：Ortega, Francesc; Peri, Giovanni
作者单位：City University of New York (CUNY) System; Queens College NY (CUNY); University of California System; University of California Davis; National Bureau of Economic Research
摘要：This paper explores the relationship between openness to trade, immigration, and income per person across countries. To address endogeneity concerns we extend the instrumental-variables strategy introduced by Frankel and Romer (1999). We build predictors of openness to immigration and to trade for each country by using information on bilateral geographical and cultural distance (while controlling for country size). Since geography may affect income through other channels, we also control for c...
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作者：Kropf, Andreas; Saure, Philip
作者单位：Northwestern University; Swiss National Bank (SNB)
摘要：Exporting firms do not only decide how much of their products they ship abroad but also at which frequency. Doing so, they face a trade-off between saving on fixed costs per shipments (by shipping large amounts infrequently) and saving on storage costs (by delivering just in time with small and frequent shipments). The firm's optimal choice defines a mapping from size and frequency of shipments to fixed costs per shipment. We use a unique dataset of Swiss cross-border trade on the transaction ...
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作者：Baler, Scott L.; Bergstrand, Jeffrey H.; Feng, Michael
作者单位：Clemson University; Federal Reserve System - USA; Federal Reserve Bank - Atlanta; University of Notre Dame; University of Notre Dame; Leibniz Association; Ifo Institut
摘要：One of the main policy sources of trade-cost changes is the formation of an economic integration agreement (ElA), which potentially affects an importing country's welfare. This paper: (i) provides the first evidence using gravity equations of both intensive and extensive (goods) margins being affected by ElAs employing a panel data set with a large number of country pairs, product categories, and ElAs from 1962 to 2000; (ii) provides the first evidence of the differential (partial) effects of ...
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作者：Braun, Sebastian; Kvasnicka, Michael
作者单位：Leibniz Association; Institut fur Weltwirtschaft an der Universitat Kiel (IFW); IZA Institute Labor Economics; Leibniz Association; Institut fur Weltwirtschaft an der Universitat Kiel (IFW); Otto von Guericke University
摘要：Does immigration accelerate sectoral change from low- to high-productivity sectors? This paper analyzes the effect of one of the largest population movements in history, the influx of millions of German expellees to West Germany after World War II, on Germany's speed of transition away from low-productivity agriculture. A simple two-sector specific factor model, in which moving costs prevent the marginal product of labor to be equalized across sectors, predicts that expellee inflows boost outp...
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作者：Bardozzetti, Alfredo; Dottori, Davide
作者单位：European Central Bank; Bank of Italy; European Central Bank; Bank of Italy
摘要：We study the effects of the adoption of collective action clauses (CACs) on government bond yields by exploiting secondary market data on sovereign bonds quoted in international markets from March 2007 to April 2011. CACs are assessed security by security. Using a panel data approach, we find a U-shaped effect of CACs on yields according to the credit rating of the issuer. While the impact is negligible for the highest ratings, a significant yield discount emerges for mid-range ratings, which ...
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作者：Bombardini, Matilde; Gallipoli, Giovanni; Pupato, German
作者单位：University of British Columbia; Canadian Institute for Advanced Research (CIFAR); National Bureau of Economic Research; Toronto Metropolitan University
摘要：This paper investigates a theoretical mechanism linking comparative advantage to the distribution of skills in the working population. We develop a tractable multi-country, multi-industry model of trade with unobservable skills in the labour market and show that comparative advantage derives from (i) cross-industry differences in the substitutability of workers' skills and (ii) cross-country differences in the dispersion of skills. We establish the conditions under which higher skill dispersio...
