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作者：Bergstrand, Jeffrey H.; Egger, Peter; Larch, Mario
作者单位：University of Notre Dame; University of Notre Dame; Leibniz Association; Ifo Institut; University of Nottingham; University of Bayreuth
摘要：A large class of models with CES utility and iceberg trade costs are now known to generate isomorphic gravity equations. Economic interpretations of these gravity equations vary in terms of two basic elements: the exporter's mass variable and the elasticity of trade with respect to true ad valorem trade costs. In this paper, we offer three potential contributions. First, we formulate and estimate a structural gravity equation based on the standard Krugman model of monopolistic competition and ...
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作者：Elsner, Benjamin
摘要：The enlargement of the European Union provides a unique opportunity to study the impact of the lifting of migration restrictions on the migrant sending countries. With EU enlargement in 2004, 1.2 million workers from Eastern Europe emigrated to the UK and Ireland. I use this emigration wave to show that emigration significantly changed the wage distribution in the sending country, in particular between young and old workers. Using a novel dataset from Lithuania, the UK and Ireland for the cali...
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作者：Facchini, Giovanni; Silva, Peri; Willmann, Gerald
作者单位：University of Nottingham; University of Milan; Kansas State University; University of Bielefeld; Leibniz Association; Institut fur Weltwirtschaft an der Universitat Kiel (IFW)
摘要：The number of preferential trade agreements has greatly increased over the past two decades, yet most existing arrangements take the form of free trade areas, and less than 10% can be considered to be fully fledged customs unions. This paper develops a political economy model of trade policy under imperfect competition to provide a positive explanation for the prevalence of free trade areas. In a three-country setting, a representative from each prospective member is elected to determine the t...
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作者：Baumgarten, Daniel
摘要：Using a linked employer-employee data set of the German manufacturing sector, this paper analyses the role of exporting establishments in explaining rising wage dispersion both within and between skill groups in the time period 1996 to 2007. A decomposition analysis shows that the strong increase in the exporter wage gap, conditional on workers' skill levels, contributed to the growth in wage inequality, whereas the increase in the exporters' share in total employment worked towards a reductio...
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作者：Siklos, Pierre L.
作者单位：Wilfrid Laurier University
摘要：Central to the conduct of monetary policy are inflation forecasts. Inflation forecasts are not unique. Central banks and professional organizations generate inflation forecasts while households are surveyed about their inflation outlook. This paper estimates inflation forecast disagreement for nine economies over the 1999-2009 period, five of which target inflation. I find that central bank transparency tends to increase forecast disagreement. To the extent this reflects the attention paid to ...
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作者：Oviedo, P. Marcelo; Singh, Rajesh
作者单位：Iowa State University
摘要：This paper studies a two country model with traded and nontraded sectors, in which sector-specific capital goods, as in practice, are produced by combining inputs from all sectors. The model also includes nontraded distribution services employed in retailing traded goods to consumers. The results show that the model with capital goods comprising multisectoral inputs outperforms the standard model in which sectoral output also serves as its capital. In particular, it substantially improves (a) ...
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作者：Fasil, Cristiana Benedetti; Borota, Teodora
作者单位：European University Institute; Uppsala University
摘要：This paper analyzes the role of product quality and labor efficiency in shaping the trade patterns and trade intensities within and across two groups of countries, the developed and richer North and the developing South. Recent empirical literature identifies two groups of evidence - the product lines evidence on different export strategies and sources of competitiveness across product groups and countries, and the aggregate trade flows evidence on a positive relation between the income per ca...
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作者：Bown, Chad P.; Crowley, Meredith A.
作者单位：The World Bank; Federal Reserve System - USA; Federal Reserve Bank - Chicago
摘要：This paper estimates the impact of macroeconomic fluctuations on import protection policies over 1988:Q1-2010:Q4 for five industrialized economies - the United States, European Union, Australia, Canada and South Korea. We find evidence of a strong countercyclical trade policy response in the pre-Great Recession period of 1988:Q1-2008:Q3 during which increases in domestic unemployment rates, real appreciations in bilateral exchange rates, and declines in the GDP growth rates of bilateral tradin...
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作者：Calderon, Cesar; Kubota, Megumi
作者单位：The World Bank; The World Bank
摘要：Our main goal is to characterize the determinants of sudden stops caused by domestic vis-a-vis foreign residents. Are the decisions of domestic investors to invest abroad or of foreign investors to cut off funds from the domestic economy governed by the same set of determinants? Given the distribution of different types of sudden stop episodes over time and its different macroeconomic consequences, we argue that their determinants may not be alike. One of the novel aspects of this paper is to ...
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作者：Kondo, Hiroki
作者单位：Sophia University
摘要：I construct a model with endogenous growth and new economic geography. Using this framework, I consider the outcomes of R&D subsidy competition among countries under different trade costs. When trade costs are higher, less industrialized countries are more eager to attract industries with vertical linkages. To prevent the industries from relocating, more industrialized countries choose much higher R&D subsidies. As a result, the industries never relocate and the growth rate is very high. When ...
