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作者：Mann, Catherine L.
作者单位：Brandeis University
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作者：Ramondo, Natalia
作者单位：University of California System; University of California San Diego
摘要：I examine new data on the number and revenues of foreign affiliates of multinational firms across a large number of country pairs. The data shed light on the behavior of the intensive and extensive margins of multinational production (MP). To capture the patterns observed in the data, I build and calibrate a multi-country general-equilibrium model of MP that combines a Lucas (1978) span-of-control with an Eaton and Kortum (2002) type model, and includes both fixed and variable costs of opening...
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作者：Koska, Onur A.; Staehler, Frank
作者单位：Eberhard Karls University of Tubingen; Leibniz Association; Ifo Institut
摘要：This paper employs a multi-industry general equilibrium model of oligopolistic competition, free market entry and trade in which capital is used to establish firms and labor is used for production. We show that both absolute and relative endowments matter for the pattern of trade. We demonstrate that market entry to each industry is either too excessive or too moderate while the effect on firm size is ambiguous. If countries are sufficiently symmetric, trade will increase the wage-rental ratio...
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作者：Tille, Cedric; van Wincoop, Eric
作者单位：Centre for Economic Policy Research - UK; University of Virginia; National Bureau of Economic Research
摘要：It is well established that private information is critical to our understanding of asset prices. In this paper we argue that it also affects international capital flows and use a simple two-country DSGE model to illustrate its impact. We show that private information (i) increases the volatility of both net and gross capital flows, (ii) leads to a high correlation between capital inflows and outflows, (iii) leads to a disconnect of capital flows from observed macro fundamentals and (iv) impli...
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作者：Mion, Giordano; Opromolla, Luca David
作者单位：University of Surrey; Banco de Portugal; Universidade de Lisboa
摘要：Knowledge is key to the competitiveness and success of an organization and in particular of a firm. Firms and their managers acquire knowledge via a variety of different channels which are often difficult to track down and quantify. By matching employer-employee data with trade data at the firm level we show that the export experience acquired by managers in previous firms leads their current firm toward higher export performance, and commands a sizeable wage premium for the manager. Moreover,...
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作者：Diez, Federico J.
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Boston
摘要：This paper studies the effects of tariffs on intra-firm trade. Building on the Antras and Helpman (2004) North-South theoretical framework, I show that higher Northern tariffs reduce the incentives for outsourcing and offshoring, while higher Southern tariffs have the opposite effects. I also show that increased offshoring and outsourcing imply a decrease in the ratio of Northern intra-firm imports to total imports, an empirically testable prediction. Using a highly disaggregated dataset of U....
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作者：Basco, Sergi
作者单位：Universidad Carlos III de Madrid
摘要：In the last decade the United States experienced the burst of the Dot-Corn and the Housing Bubbles. I develop a model to study the relationship between globalization and the emergence of rational bubbles. I also analyze how the effect of globalization on house prices depends on the type of bubble. I show that bubbles cannot arise in a financially developed country in autarky. In contrast, as globalization progresses, bubbles are more likely to appear in the financially developed country. I als...
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作者：Galiani, Sebastian; Torrens, Gustavo
作者单位：University System of Maryland; University of Maryland College Park; Indiana University System; Indiana University Bloomington
摘要：This paper develops a politico-economic model for use in studying the role of intra-elite conflict in the simultaneous determination of a country's political regime, trade policy and income-tax-based redistribution scheme. Three socioeconomic groups are involved: two elite groups and workers, whose preferences regarding trade policy and income taxation are derived from a simple open-economy model. The critical point is that income taxation induces a rich-poor/elite-workers political cleavage, ...
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作者：Lombardo, Giovanni; Ravenna, Federico
作者单位：European Central Bank; Universite de Montreal; HEC Montreal
摘要：We show that the composition of international trade has important implications for the optimal volatility of the exchange rate, above and beyond the size of trade flows. Using an analytically tractable small open economy model, we characterize the impact of the trade composition on the policy trade-off and on the role played by the exchange rate in correcting for price misalignments. Contrary to models where openness can be summarized by the degree of home bias, we find that openness can be a ...
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作者：Martin, Julien; Mejean, Isabelle
作者单位：University of Quebec; University of Quebec Montreal; Institut Polytechnique de Paris; Ecole Polytechnique
摘要：We study how competition from low-wage countries in international markets affects the quality content of high-wage country exports. We focus on aggregate quality changes driven by a reallocation of sales from low- to high-quality exporters, within industries. Two alternative indicators are used on firm-level data to measure quality changes. Both lead to similar conclusions. Namely, we show that the mean quality of French exports increased by 10-15% between 1995 and 2005. Quality improvement is...
