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作者：Ahsan, Reshad N.
作者单位：University of Melbourne
摘要：This paper extends the literature on trade liberalization and firm productivity (TFP) by examining the complementarities between the speed of contract enforcement and the productivity gains from input tariff liberalization. It does so by using firm-level panel data from India along with an objective measure of judicial efficiency at the state level. The results suggest that for a 10 percentage point decline in input tariffs, firms in the state at the 75th percentile of judicial efficiency gain...
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作者：Balke, Nathan S.; Ma, Jun; Wohar, Mark E.
作者单位：Southern Methodist University; Federal Reserve System - USA; Federal Reserve Bank - Dallas; University of Alabama System; University of Alabama Tuscaloosa; University of Nebraska System
摘要：Starting from the asset pricing approach of Engel and West, we examine the degree to which fundamentals can explain exchange rate fluctuations. We show that it is not possible to obtain sharp inferences about the relative contribution of fundamentals using only data on observed monetary fundamentals-money minus output differentials across countries-and exchange rates. We use additional data on interest rate and price differentials along with the implications of the monetary model of exchange r...
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作者：Bruelhart, Marius; Carrere, Celine; Trionfetti, Federico
作者单位：University of Lausanne; Centre for Economic Policy Research - UK; University of Geneva; Aix-Marseille Universite
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作者：Felbermayr, Gabriel; Jung, Benjamin; Larch, Mario
作者单位：Leibniz Association; Ifo Institut; University of Munich; Eberhard Karls University of Tubingen; University of Bayreuth
摘要：This paper characterizes analytically the optimal tariff of a large one-sector economy with monopolistic competition and firm heterogeneity in general equilibrium, thereby extending the small-country results of Demidova and Rodriguez-Clare (JIE, 2009) and the homogeneous firms framework of Gros (JIE, 1987). The optimal tariff internalizes a mark-up distortion, an entry distortion, and a terms-of-trade externality. It is larger when the dispersion of firm-level productivities is higher, and the...
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作者：Mrazova, Monika; Vines, David; Zissimos, Ben
作者单位：University of Surrey; University of Oxford; University of Oxford; Australian National University; University of Exeter
摘要：The GATT/WTO Article XXIV prevents a customs union (CU) from raising its common external tariff. In this paper, we compare CU formation with and without this Article XXIV constraint. We show, in a multi-country oligopoly model, that for a given CU structure, Article XXIV improves world welfare by lowering trade barriers. However, we also show that Article XXIV has a composition effect on CU formation: it affects the endogenous choice of CUs. By encouraging more symmetric CUs, Article XXIV caus...
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作者：Imai, Susumu; Katayama, Hajime; Krishna, Kala
作者单位：University of Technology Sydney; Waseda University; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：This paper proposes a new test of the Protection for Sale (PFS) model by Grossman and Helpman (1994). Unlike existing methods in the literature, our approach does not require any data on political organization. We use quantile and IV quantile regressions in our tests, using the data from Gawande and Bandyopadhyay (2000). Surprisingly, the results do not provide any evidence favoring the PFS model. We also explain why previous work may have found support for it. (C) 2013 Published by Elsevier B...
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作者：Sampson, Thomas
作者单位：University of London; London School Economics & Political Science
摘要：This paper studies technology transfer when technology is embodied in human capital and learning requires on-the-job communication between managers and workers. Patterns of technology diffusion depend on where high knowledge managers work and how much time they allocate to training workers. Managers appropriate the surplus training creates and in the open economy managers face a cross-country trade-off between labor costs and the value of knowledge transfer. Complementarity between country lev...
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作者：Ghosal, Sayantan; Thampanishvong, Kannika
作者单位：University of Warwick
摘要：Does improving creditor coordination by strengthening CACs lead to efficiency gains in the functioning of sovereign bond markets? We address this question in a model featuring both debtor moral hazard and creditor coordination under incomplete information. Conditional on default, we characterize the interim efficient CAC threshold and show that strengthening CACs away from unanimity results in interim welfare gains. However, once the impact of strengthening CACs on debtor's incentives is taken...
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作者：Mion, Giordano; Zhu, Linke
作者单位：University of London; London School Economics & Political Science; Shanghai University of Finance & Economics
摘要：We use Belgian manufacturing firm-level data over the period 1996-2007 to analyze the impact of imports from different origins on firm employment growth, exit, and skill upgrading. For this purpose, we use both industry-level and firm-level imports by country of origin and further distinguish between firm-level offshoring of final versus intermediate goods. Results indicate that China is different from both other low-wage and OECD countries. Industry-level import competition from China reduces...
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作者：Impullitti, Giammario; Irarrazabal, Alfonso A.; Opromolla, Luca David
作者单位：University of Cambridge; Norges Bank; Banco de Portugal; Universidade de Lisboa
摘要：This paper introduces idiosyncratic firm efficiency shocks into a continuous-time general equilibrium model of trade with heterogeneous firms. The presence of sunk export entry costs and efficiency uncertainty gives rise to hysteresis in export market participation. A firm will enter into the export market once it achieves a given size, reflecting its efficiency, but may keep exporting even after its efficiency has fallen below its initial entry level. Some exporters will not be selling as muc...
