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作者：Bergstrand, Jeffrey H.; Egger, Peter
作者单位：University of Notre Dame; University of Notre Dame; University of Notre Dame; Leibniz Association; Ifo Institut; Swiss Federal Institutes of Technology Domain; ETH Zurich; University of Nottingham; University of Oxford
摘要：Similar to bilateral or regional preferential trade agreements (PTAs), bilateral investment treaties (BITs) have proliferated over the past 50 years. The purpose of this study is to provide the first systematic empirical analysis of the economic determinants of BITs and of the likelihood of BITs between pairs of countries using a qualitative choice model, in a manner consistent with explaining PTAs. We develop the econometric specification for explaining the two based upon a general equilibriu...
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作者：Brakman, Steven; van Marrewijk, Charles
作者单位：University of Groningen; Utrecht University
摘要：Lumpiness of production factors within a country might overturn the Heckscher-Ohlin (HO) model's predictions for the factor content of trade. Trade patterns, as predicted by this model, can both be magnified or reversed by uneven concentration of production factors within a country. Cities are the most characteristic manifestation of lumpiness of production factors and as a consequence different patterns of urbanization between countries might cause trade patterns to differ from the HO model's...
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作者：Corsetti, Giancarlo; Martin, Philippe; Pesenti, Paolo
作者单位：University of Cambridge; Roma Tre University; Centre for Economic Policy Research - UK; Institut d'Etudes Politiques Paris (Sciences Po); Federal Reserve System - USA; Federal Reserve Bank - New York; National Bureau of Economic Research
摘要：We revisit the classic transfer problem, accounting for two channels of adjustment: increased trade in existing goods and services (the intensive margin) and net creation and destruction of product varieties (the extensive margin). Over the medium term, the latter reduces the scope for real exchange rate and terms of trade variability in response to cross-border flows. We embed our transfer analysis in popular models of current account adjustment, where initial imbalances are driven by domesti...
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作者：Lai, Edwin L. -C.; Yan, Isabel K. M.
作者单位：Hong Kong University of Science & Technology; City University of Hong Kong
摘要：In the standard model with free trade and social-welfare-maximizing governments a la Grossman and Lai (2004), cross-border positive policy externalities result in countries choosing a combination of patent strengths that is weaker than optimal from a global perspective. This paper introduces three new features to the analysis: trade and FDI barriers, firm heterogeneity and political economy considerations in setting patent policies. Based on calibration, we find that there would be global unde...
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作者：Qiu, Larry D.; Zhou, Wen
作者单位：University of Hong Kong
摘要：A model of heterogeneous firms with variety-specific fixed costs is developed and analyzed to study how multiproduct firms respond to globalization. In contrast with most existing models, the analysis demonstrates that more-productive firms may expand their product scope, which in turn may push up their average costs. A necessary and sufficient condition for scope expansion is that the fixed cost of introducing more varieties increases rapidly with the product scope. With increasing globalizat...
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作者：Martincus, Christian Volpe; Blyde, Juan
作者单位：Inter-American Development Bank
摘要：Our knowledge of the trade effects of domestic infrastructure is very limited. The reason is twofold. First, data needed to examine these effects are not readily available. Second, identifying such effects requires properly addressing potential endogeneity problems affecting the relationship between internal infrastructure and trade. In this paper, we overcome these limitations by combining firm-level export data with detailed geo-referenced information on Chile and by exploiting the earthquak...
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作者：Bonfatti, Roberto; Ghatak, Maitreesh
作者单位：University of Oxford
摘要：Trade liberalization in the 1980s and 1990s has been associated with a sharp increase in the skill premium in both developed and developing countries. This is in apparent conflict with neoclassical theory, according to which trade should decrease the relative return on the relatively scarce factor, and thus decrease the skill premium in skill-scarce developing countries. We develop a simple model of trade with talent heterogeneity and capital market imperfections, and show that trade can incre...
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作者：Fuchs, Andreas; Klann, Nils-Hendrik
作者单位：University of Gottingen; Princeton University; Ruprecht Karls University Heidelberg
摘要：Is political compliance a precondition for healthy trade relations with China? The Chinese government frequently threatens that meetings between its trading partners' officials and the Dalai Lama will be met with animosity and ultimately harm trade ties. We run a gravity model of exports to China from 159 partner countries between 1991 and 2008 to test the extent to which bilateral tensions affect trade with autocratic China. In particular, we empirically investigate whether countries that rec...
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作者：Blum, Bernardo S.; Claro, Sebastian; Horstmann, Ignatius J.
作者单位：University of Toronto; Central Bank of Chile; Pontificia Universidad Catolica de Chile
摘要：We document several new features of firms' export entry and exit behaviors: i) one-third of exporting firms enter into and exit from exporting multiple times; ii) most continuing exporters enter and exit specific export destinations multiple times; iii) firms re-entering exporting often sell the same product(s) to the same importer(s). We provide a model in which this behavior is an optimal response for firms facing increasing costs and stochastic demand. The model has a number of predictions ...
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作者：Ahmad, Yamin; Lo, Ming Chien; Mykhaylova, Olena
作者单位：Minnesota State Colleges & Universities; Saint Cloud State University; University of Richmond
摘要：This paper investigates the extent to which modern DSGE models, which feature local currency pricing, home bias, nontraded goods, and incomplete markets, can generate nonlinear real exchange rate dynamics that are consistent with those found in the time series literature using data from the current floating period. Our key findings are as follows. First, if the true model can be appropriately characterized as a set of linear equations, then linearity tests that utilize univariate autoregressio...
