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作者：Baghdadi, Leila; Martinez-Zarzoso, Inmaculada; Zitouna, Habib
作者单位：Universite de Tunis; Universitat Jaume I; Universite de Carthage
摘要：This paper investigates whether RTAs with environmental provisions affect relative and absolute pollution levels. In order to do so, the determinants of carbon dioxide emissions convergence are estimated for a cross-section of 182 countries over the period 1980 to 2008. A propensity score matching approach is combined with difference-in-differences techniques to effectively isolate the effect of the Regional Trade Agreement (RTA) variable. The usual controls for scale, composition and techniqu...
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作者：Jacob, Punnoose; Peersman, Gert
作者单位：Reserve Bank of New Zealand; Ghent University
摘要：In an estimated two-country DSGE model, we find that shocks to the marginal efficiency of investment account for more than half of the forecast variance of cyclical fluctuations in the US trade balance. Both domestic and foreign marginal efficiency shocks generate a strong effect on the variability of the imbalance, through shifts in international relative absorption. On the other hand, shocks to uncovered interest parity and foreign export prices, which transmit mainly via the terms of trade ...
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作者：Cavallari, Lilia
作者单位：Roma Tre University
摘要：This paper proposes a two-country monetary model with firm entry as a means for alleviating the comovement puzzles in international business cycle models. It shows that business formation can generate fluctuations in output, employment, investment and trade flows close to those in the data while at the same time providing positive international comovements. Simulations show that the presence of imported investment goods is essential for replicating these facts. (C) 2013 Elsevier B.V. All right...
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作者：Olney, William W.
作者单位：Williams College
摘要：A common critique of globalization is that it leads to a race to the bottom. Specifically, it is assumed that multinationals invest in countries with lower regulatory standards and that countries competitively undercut each other's standards in order to attract foreign capital. This paper tests this hypothesis and finds robust empirical support for both predictions. First, a reduction in employment protection rules leads to an increase in foreign direct investment (FDI). Furthermore, changes i...
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作者：Fabling, Richard; Sanderson, Lynda
作者单位：University of Waikato
摘要：This paper examines input and productivity dynamics of manufacturing firms in the period leading to and following export market entry. We examine 3 possible explanations for the observed productivity gap between exporting and non-exporting firms: self-selection of high-performing firms into exporting; post-entry learning effects; and joint export-investment decisions. We consider both initial entry into exporting and subsequent expansion into new destination markets, showing that capital deepe...
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作者：Kano, Kazuko; Kano, Takashi; Takechi, Kazutaka
作者单位：University of Tokyo; Hitotsubashi University; Hosei University
摘要：This paper empirically establishes the significant roles of transport costs in price dispersions across regions. We identify and estimate the iceberg-type distance-elastic transport costs as a parameter of a structural model of cross-regional price differentials featuring product delivery decisions. Utilizing a data set of wholesale prices and product delivery patterns of agricultural products in Japan, our structural estimation approach finds large distance elasticities of the transport costs...
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作者：Keuschnigg, Christian; Devereux, Michael P.
作者单位：University of St Gallen; University of Oxford
摘要：To prevent profit shifting by manipulation of transfer prices, tax authorities typically apply the arm's length principle in corporate taxation and use comparable market prices to 'correctly' assess the value of intracompany trade and royalty income of multinationals. We develop a model of firms subject to financing frictions and offshoring of intermediate inputs. We find that arm's length prices systematically differ from prices set by independent agents. Application of the principle distorts...
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作者：Blonigen, Bruce A.; Liebman, Benjamin H.; Pierce, Justin R.; Wilson, Wesley W.
作者单位：University of Oregon; National Bureau of Economic Research; Saint Joseph's University; Federal Reserve System - USA
摘要：Over the past 50 years, the steel industry has been protected by a wide variety of trade policies, both tariff- and quota-based. We exploit this extensive heterogeneity in trade protection to examine the well- established theoretical literature predicting nonequivalent effects of tariffs and quotas on domestic firms' market power. Using plant-level Census Bureau data for steel plants from 1967 to 2002, we find evidence for significant market power effects for binding quota-based protection, bu...
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作者：Akinci, Oezge
作者单位：Federal Reserve System - USA
摘要：This paper uses a panel structural vector autoregressive (VAR) model to investigate the extent to which global financial conditions, i.e., a global risk-free interest rate and global financial risk, and country spreads contribute to macroeconomic fluctuations in emerging countries. The main findings are: (1) global financial risk shocks explain about 20% of movements both in the country spread and in the aggregate activity in emerging economies. (2) The contribution of global risk-free interes...
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作者：Hanson, Gordon H.; Xiang, Chong
作者单位：University of California System; University of California San Diego; National Bureau of Economic Research; Purdue University System; Purdue University
摘要：In this paper we build a model of market competition among religious denominations, using a framework that involves incomplete contracts and the production of club goods. We treat denominations akin to multinational enterprises, which decide which countries to enter based on local market conditions and their own productivity. The model guides us in estimating how a denomination's religious doctrine and governance structure affect its ability to attract adherents. Using data on the foreign oper...
