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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：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...
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作者：Bertoletti, Paolo; Epifani, Paolo
作者单位：University of Pavia; Bocconi University; Bocconi University; Bocconi University
摘要：We study the competitive and reallocation effects of trade opening in monopolistic competition. To this purpose, we generalize the Melitz (2003) setup with heterogeneous firms and fixed and variable trade costs beyond the CES to the case of additively separable utility functions. We find that extensive margin (Melitz-type selection) effects are robust to relaxing the CES assumption. Intensive margin effects (market share reallocations across inframarginal firms) and competitive (markup) effect...
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作者：Ghosh, Atish R.; Qureshi, Mahvash S.; Kim, Jun Il; Zalduendo, Juan
作者单位：International Monetary Fund; International Monetary Fund
摘要：This paper examines when and why capital sometimes surges to emerging market economies (EMEs). Using data on net capital flows for 56 EMEs over 1980-2011, we find that global factors, including US interest rates and investor risk aversion act as gatekeepers that determine when surges of capital to EMEs will occur. Whether a particular EME receives a surge, and the magnitude of that surge, however, depends largely on domestic factors such as its external financing need, capital account openness...
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作者：Bauducco, Sofia; Caprioli, Francesco
作者单位：Central Bank of Chile; European Central Bank; Bank of Italy
摘要：We introduce limited commitment into a standard optimal fiscal policy model in small open economies. We consider the problem of a benevolent government that signs a risk-sharing contract with the rest of the world, and that has to choose optimally distortionary taxes on labor income, domestic debt and international transfers. Both the home country and the rest of the world may have limited commitment, which means that they can leave the contract if they find it convenient. The contract is desi...
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作者：Jaef, Roberto N. Fattal; Lopez, Jose Ignacio
作者单位：The World Bank; Hautes Etudes Commerciales (HEC) Paris
摘要：Are firm entry and fixed exporting costs relevant for understanding the international transmission of business cycles? We revisit this question using a model that includes entry, selection to exporting activity, physical capital accumulation and endogenous labor supply. We determine that once the stochastic process for exogenous productivity is calibrated to consider the endogenous dynamics in TFP created by the number of firms and the time series volatility of entry is calibrated to the data,...
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作者：Nicita, Alessandro; Olarreaga, Marcelo; Porto, Guido
作者单位：University of Geneva; Center for Economic & Policy Research (CEPR); National University of La Plata
摘要：This paper examines the presence of a pro-poor bias in the existing structure of protection of six Sub-Saharan African (SSA) countries, Burkina Faso, Cameroon, Cote d'Ivoire, Ethiopia. Gambia, and Madagascar. We build on a simple agricultural household production model and we propose an extension to include adjustments in labor income. Our approach, which can be implemented without repeated cross-sections of household level data, suits well the data constraints in SSA It also allows us to capt...
