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作者：Chen, Cheng
作者单位：Princeton University
摘要：I present a model that explains a multinational firm's choice of organizational form. If a firm in the developed country outsources the production of its intermediate goods to a supplier in the developing country, it faces an adverse selection problem. If it chooses to produce the intermediate goods in its own subsidiary in the developing country, it faces an inefficient monitoring problem. My analysis of this tradeoff provides a new explanation for the observation that FDI is concentrated in ...
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作者：Cardi, Olivier; Mueller, Gernot J.
作者单位：Universite Paris-Pantheon-Assas; Institut Polytechnique de Paris; Ecole Polytechnique; University of Bonn; Centre for Economic Policy Research - UK
摘要：In this paper we analyze the ability of an open economy version of the neoclassical model to account for the time-series evidence on fiscal policy transmission. Revisiting the evidence, we find that i) government spending raises output, while inducing a simultaneous decline of investment and the current account and ii) the responses of output and investment are more muted in more open economies while current account deficits tend to be larger. Turning to the model, we explore the role of habit...
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作者：Kose, M. Ayhan
作者单位：International Monetary Fund
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作者：Chen, Wenjie
作者单位：George Washington University
摘要：This paper evaluates the causal relationship between the source of origin of FDI and the performance of the target firm. The empirical analysis uses new data on a comprehensive sample of public U.S. firms that received FDI between 1979 and 2006. To account for the possibility that performance differences arise due to the selection of superior target firm rather than the change in ownership, I use propensity score matching to create similar comparison groups of target firms prior to acquisition...
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作者：Eicher, Theo S.; Henn, Christian
作者单位：University of Washington; University of Washington Seattle; International Monetary Fund
摘要：The literature measuring the effects of WTO membership on trade flows has produced remarkably diverse results. Rose (2004) reports a wide range of empirical specifications that produce no WTO effects. Tomz et al. (2007) use Rose's data but include de facto WTO membership, to find positive WTO trade effects. Rose (2005) also produced positive WTO trade effects after accounting for the diverse trade effects produced by individual preferential trade agreements (PTAs). When Subramanian and Wei (20...
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作者：Arnold, Jens M.; Javorcik, Beata S.; Mattoo, Aaditya
作者单位：Organisation for Economic Co-operation & Development (OECD); University of Oxford; University of Oxford; Centre for Economic Policy Research - UK; The World Bank
摘要：While there is considerable empirical evidence on the impact of liberalizing trade in goods, the effects of services liberalization have not been empirically established. This study examines the link between services sector reforms and the productivity of manufacturing industries relying on services inputs. Several aspects of services liberalization are considered, namely, the presence of foreign providers, privatization and the level of competition. The results, based on firm-level data from ...
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作者：Bodenstein, Martin
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors
摘要：A large class of international business cycle models admits multiple locally isolated deterministic steady states, if the elasticity of substitution between traded goods is sufficiently low. I explore the conditions under which such multiplicity occurs and characterize the dynamic properties in the neighborhood of each steady state. Models with standard incomplete markets, portfolio costs, a debt-elastic interest rate, or an overlapping generations framework allow for multiple steady states, i...
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作者：Cristea, Anca D.
作者单位：University of Oregon
摘要：International trade has become increasingly dependent on the transmission of complex information, often realized via face-to-face communication. This paper provides novel evidence for the importance of in-person business meetings in international trade. Interactions among trade partners entail a fixed cost of trade, but at the same time they generate relationship capital, which adds bilateral specific value to the traded products. Differences in the face-to-face communication intensity of trad...
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作者：Enders, Zeno; Mueller, Gernot J.; Scholl, Almuth
作者单位：University of Bonn; University of Konstanz
摘要：Using vector autoregressions on U.S. time series relative to an aggregate of industrialized countries, this paper provides new evidence on the dynamic effects of government spending and technology shocks on the real exchange rate and the terms of trade. To achieve identification, we derive robust restrictions on the sign of several impulse responses from a two-country general equilibrium model. We find that both the real exchange rate and the terms of trade whose responses are left unrestricte...
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作者：Spilimbergo, Antonio
作者单位：International Monetary Fund
