-
作者：Sequeira, Sandra; Djankov, Simeon
作者单位：University of London; London School Economics & Political Science; The World Bank
摘要：This paper investigates how corruption affects firm behavior. Using an original and unusually rich dataset on bribe payments at ports matched to firm-level data, we observe how firms adapt to different types of corruption by adjusting their transport strategies. Our results suggest that firms respond to the price effects of corruption, organizing production in a way that increases or decreases demand for the public service. (C) 2014 Elsevier B.V. All rights reserved.
-
作者：Handley, Kyle
作者单位：University of Michigan System; University of Michigan
摘要：I provide novel evidence for the impact of trade policy uncertainty on exporters. In a dynamic, heterogeneous firms model, trade policy uncertainty will delay the entry of exporters into new markets and make them less responsive to applied tariff reductions. Policy instruments that reduce or eliminate uncertainty, such as binding trade policy commitments at the WTO, increase entry. The predictions are tested on disaggregated, product-level Australian imports with model-consistent measures of u...
-
作者：Van Biesebroeck, Johannes; Zhang, Lijun
作者单位：KU Leuven; University of Victoria
摘要：We analyze a firm that produces a final good from multiple intermediates, each of which can be sourced domestically or from a low-wage country. Offshoring an intermediate is only profitable when it has matured sufficiently and the savings in production cost outweigh the underinvestment due to incomplete contracts abroad. We derive how equilibrium sourcing decisions of different intermediates depend on one another. In particular, we demonstrate that the maturity threshold to offshore additional...
-
作者：Bahar, Dany; Hausmann, Ricardo; Hidalgo, Cesar A.
作者单位：Harvard University; Harvard University; Massachusetts Institute of Technology (MIT)
摘要：The literature on knowledge diffusion shows that knowledge decays strongly with distance. In this paper we document that the probability that a product is added to a country's export basket is, on average, 65% larger if a neighboring country is a successful exporter of that same product. For existing products, growth of exports in a country is 1.5% higher per annum if it has a neighbor with comparative advantage in these products. While these results could be driven by a common third factor th...
-
作者：Baldwin, Richard; Robert-Nicoud, Frederic
作者单位：University of Geneva; National Bureau of Economic Research
摘要：We introduce a simple but flexible analytical framework in which both trade in goods and trade in tasks arise. We use this framework to provide versions of the gains-from-trade and the famous four HO theorems (Heckscher-Ohlin, factor-price-equalisation, Stolper-Samuelson, and Rybczynski) that apply to this environment. We extend our framework to accommodate monopolistic competition and two-way offshoring and to integrate theoretical results of the early offshoring literature. (C) 2013 Elsevier...
-
作者：Barattieri, Alessandro
作者单位：University of Quebec; University of Quebec Montreal
摘要：The large current account deficit of the U.S. is the result of a large deficit in the goods balance and a modest surplus in the service balance. The opposite is true for Japan, Germany, and China. Moreover, I document the emergence from the mid-nineties of a strong negative relation between specialization in the export of services and the current account balances of a large sample of OECD and developing countries. Starting from these new stylized facts, I propose in this paper a service hypoth...
-
作者：Breinlich, Holger
作者单位：University of Essex; University of Essex; Centre for Economic Policy Research - UK
摘要：This paper presents novel empirical evidence on key predictions of heterogeneous firm models by examining stock market reactions to the Canada-United States Free Trade Agreement of 1989 (CUSFTA). I derive testable predictions fora class of models based on Melitz (2003). Using the uncertainty surrounding CUSFTA's ratification, I show that the pattern of abnormal returns of Canadian manufacturing firms was strongly consistent with predictions related to export (U.S.) tariff reductions, but less ...
-
作者：Rodrigue, Joel; Soumonni, Omolola
作者单位：Vanderbilt University
摘要：This paper presents a dynamic, heterogeneous firm model of investment in environmental abatement and exporting. The model highlights the interaction between firms' environmental investment and export decisions on the evolution of productivity and export demand in timber manufacturing industries. The model is structurally estimated using Indonesian timber manufacturing data that captures firm-level variation in environmental investment and export behavior. The results suggest that environmental...
-
作者：Zhang, Cathy
作者单位：Purdue University System; Purdue University
摘要：This paper develops an information-based theory of international currency based on search frictions, private trading histories, and imperfect recognizability of assets. Using an open-economy search model with multiple competing currencies, the value of each currency is determined without requiring agents to use a particular currency to purchase a country's goods. Strategic complementarities in portfolio choices and information acquisition decisions generate multiple equilibria with different t...
-
作者：Evans, Martin D. D.
作者单位：Georgetown University
摘要：This paper studies the process of external adjustment. I develop an open economy model with endowment and preference shocks that can account for the empirical behavior of real exchange rates, interest rates and consumption in the U.S. and Europe. The model includes cross border holdings of bonds and equity, and financial frictions that impede international risk-sharing. I find that external adjustment following endowment shocks predominantly takes place via trade flows, consistent with the int...
