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作者：Smeets, Valerie; Warzynski, Frederic
作者单位：Aarhus University
摘要：In this paper, we analyze the relationship between exports, imports and firm productivity taking into account pricing heterogeneity and multi-product firms. We use a rich firm-product level dataset providing both revenue and quantities of all products produced, exported and imported for a large panel of Danish manufacturing firms over the period 1999-2006. With this detailed information, we compute a firm level price index to deflate our measure of output and compare our productivity measures ...
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作者：Reinhardt, Dennis; Ricci, Luca Antonio; Tressel, Thierry
作者单位：International Monetary Fund
摘要：Does capital flow from rich to poor countries? We revisit the Lucas paradox to account for the role of capital account openness. We find that, when accounting for such openness, the prediction of the neoclassical theory is empirically confirmed: among financially open economies, less developed countries tend to experience net capital inflows and more developed countries tend to experience net capital outflows. The results hold also when taking into account private flows, institutions, and nume...
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作者：Bastos, Paulo; Straume, Odd Rune; Urrego, Jaime A.
作者单位：The World Bank; Universidade do Minho; University of Bergen; Inter-American Development Bank
摘要：We examine whether and how rainfall shocks affect tariff setting in the agricultural sector. In a model of strategic trade policy, we show that the impact of a negative rainfall shock on optimal import tariffs is generally ambiguous, depending on the weight placed by the domestic policy maker on tariff revenue, profits and the consumer surplus. The more weight placed on domestic profits, the more likely it is that the policy maker will respond to a rainfall shortage by reducing import tariffs....
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作者：Ederington, Josh; McCalman, Phillip
作者单位：University of Kentucky; University of Melbourne
摘要：We integrate trade policy into an open-economy model of technology adoption to investigate the impact of alternate trade barriers on the equilibrium diffusion of a cost-saving technology. It is shown that even when ad-valorem tariffs have a neutral impact on technology adoption, non-tariff barriers such as quotas can be used to affect the speed of technology diffusion in both the home and foreign countries. In addition, we demonstrate how, in an open-economy setting, tariffication (i.e., the c...
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作者：di Giovanni, Julian; Levchenko, Andrei A.
作者单位：International Monetary Fund; University of Michigan System; University of Michigan; National Bureau of Economic Research
摘要：Firm size follows Zipf's Law, a very fat-tailed distribution that implies a few large firms account for a disproportionate share of overall economic activity. This distribution of firm size is crucial for evaluating the welfare impact of economic policies such as barriers to entry or trade liberalization. Using a multi-country model of production and trade calibrated to the observed distribution of firm size, we show that the welfare impact of high entry costs is small. In the sample of the 50...
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作者：Fugazza, Marco; Nicita, Alessandro
摘要：The proliferation of preferential trade agreements has resulted in a complex system of preferences in which market access conditions are often discriminatory. In this paper we investigate how market access conditions have evolved between 2000 and 2009, and how this has affected international trade. Our results show that the proliferation of preferential access has increased bilateral trade not only due to lower tariffs but also because preferential access often resulted in higher preferential ...
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作者：Kalemli-Ozcan, Sebnem; Papaioannou, Elias; Perri, Fabrizio
作者单位：Koc University; Harvard University; Dartmouth College; National Bureau of Economic Research; Centre for Economic Policy Research - UK; University of Minnesota System; University of Minnesota Twin Cities; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
摘要：We study the effect of financial integration (through banks) on the transmission of international business cycles. In a sample of 18/20 developed countries between 1978 and 2009 we find that, in periods without financial crises, increases in bilateral banking linkages are associated with more divergent output cycles. This relation is significantly weaker during financial turmoil periods, suggesting that financial crises induce co-movement among more financially integrated countries. We also sh...
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作者：Dutt, Pushan; Mihov, Ilian; Van Zandt, Timothy
作者单位：INSEAD Business School; INSEAD Business School
摘要：We use 6-digit bilateral trade data to document the effect of WTO/GATT membership on the extensive and intensive product margins of trade. We construct gravity equations for the two product margins motivated by Chaney (2008). The empirical results show that standard gravity variables provide good explanatory power for bilateral trade on both margins. Importantly, we show that the impact of the WTO is concentrated almost exclusively on the extensive product margin of trade, i.e. trade in goods ...
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作者：Friedrich, Christian; Schnabel, Isabel; Zettelmeyer, Jeromin
作者单位：Johannes Gutenberg University of Mainz; Centre for Economic Policy Research - UK; Max Planck Society; European Bank of Reconstructon & Development
摘要：Using industry-level data, this paper tries to explain why financial integration raised growth differentials between externally dependent and less dependent industries in European transition countries, but not in other developing or advanced countries in the years preceding the current crisis. We argue that political integration with countries that have stronger political and economic institutions leads to growth-enhancing foreign investments because investors expect an improvement of institut...
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作者：Brueckner, Markus; Gradstein, Mark
作者单位：National University of Singapore; Ben-Gurion University of the Negev
摘要：This paper provides instrumental variables estimates of the response of aggregate private consumption to transitory output shocks in poor countries. To identify exogenous, unanticipated, idiosyncratic and transitory variations in national output we use year-to-year variations in rainfall as an instrumental variable in a panel of 39 sub-Saharan African countries during the period 1980-2009. Our estimates yield a marginal propensity to consume out of transitory output of around 0.2. To explain t...
