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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：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...
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作者：Kuttner, Kenneth N.
作者单位：Williams College
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作者：Paz, Lourenco S.
作者单位：Syracuse University
摘要：Following trade liberalization, several developing countries experienced a sharp increase in the share of informal manufacturing employment. In this paper. I examine the impacts of trade liberalization on the labor markets of a small open economy, in an environment in which tariffs affect firms' payroll tax compliance decisions. I demonstrate that a reduction in domestic import tariffs reduces the average formal wage and show that the direction of the effect on the share of informal employment...
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作者：Alessandria, George; Choi, Horag
作者单位：University of Rochester; Federal Reserve System - USA; Federal Reserve Bank - Philadelphia; Monash University
摘要：We study empirically and theoretically the growth of U.S. manufacturing exports from 1987 to 2007. We use plant-level data on exporters' export intensity to identify the changes in iceberg costs over this period. Given this change in iceberg costs, we find that a GE model with heterogeneous establishments and dynamic exporting decision from a sunk cost of starting to export is consistent with both aggregate U.S. export growth and the changes in the number and size of U.S. exporters. The model ...
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作者：Blonigen, Bruce A.; Piger, Jeremy; Sly, Nicholas
作者单位：University of Oregon; National Bureau of Economic Research
摘要：It has long been recognized that business cycle comovement is greater between countries that trade more intensively with one another. However, nations face shocks to both the cyclical and trend components of their GDP series. Contrary to the result for cyclical fluctuations, we find comovement of shocks to the trend component of real GDP is weaker among countries that trade more intensively with one another. We simulate changes in ten-year output growth correlations corresponding to the estima...
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作者：Marin, Dalia; Verdier, Thierry
作者单位：University of Munich; Paris School of Economics; Institut Polytechnique de Paris; Ecole des Ponts ParisTech
摘要：Corporate organization varies within countries and between countries. We develop a theory which explains the variation in levels of decentralization across firms and links it to the trade environment that firms face. We introduce firms with internal hierarchies in a Melitz and Ottaviano (2008) model of international trade. We show that international trade increases the conflict of interest between CEO/owners and middle managers within firms and these eventually lead to decentralized corporate ...
