2期

最新文章

• International trade in services: A portrait of importers and exporters AI翻译
  作者：Breinlich, Holger; Criscuolo, Chiara
  作者单位：University of London; London School Economics & Political Science; University of Mannheim
  摘要：We provide a novel set of stylized facts on firms engaging in international trade in services, using unique data on firm-level exports and imports from the world's second largest services exporter, the United Kingdom (UK). We show that only a fraction of UK firms engage in international trade in services, that trade participation varies widely across industries and that service traders are different from non-traders in terms of size, productivity and other firm characteristics. We also provide...
• Europe and the Euro AI翻译
  作者：Lane, Philip R.
  作者单位：Trinity College Dublin
• The specific factors continuum model, with implications for globalization and income risk AI翻译
  作者：Anderson, James E.
  作者单位：Boston College; National Bureau of Economic Research
  摘要：This paper embeds the specific factors model in the goods continuum approach of Dornbusch et al. (1977, 1980) and applies it to analyze the effect of globalization on income risk. Globalization amplifies sector specific income risk induced by idiosyncratic sectoral technology shocks, but tends to reduce income risk to both mobile and immobile factors induced by aggregate technology shocks that differ by country. Aggregate risk bears most heavily on the poorest specific factors. (C) 2011 Elsevi...
• Policy choice: Theory and evidence from commitment via international trade agreements AI翻译
  作者：Limao, Nuno; Tovar, Patricia
  作者单位：National Bureau of Economic Research; University System of Maryland; University of Maryland College Park; Brandeis University
  摘要：Why do governments employ inefficient policies when more efficient ones are available for the same purpose? We address this puzzle in the context of redistribution toward special interest groups (SIGs) by focusing on a set of important policies: tariffs and non-tariff barriers (NTBs). In our policy choice model a government can gain by committing to constrain tariffs through international agreements even if this leads to the use of less efficient NTBs; commitment has political value because it...
• When is quality of financial system a source of comparative advantage? AI翻译
  作者：Ju, Jiandong; Wei, Shang-Jin
  作者单位：University of Oklahoma System; University of Oklahoma - Norman; Tsinghua University; Columbia University; National Bureau of Economic Research
  摘要：Dominant theories of trade tend to ignore the role of finance as a source of comparative advantage. On the other hand, the finance literature places financial institutions as a driver of economic growth. This paper unites these two competing schools of thought in a general equilibrium framework. For economies with high-quality institutions (defined by the competitiveness of the financial sector, the quality of corporate governance, and the level of property rights protection), finance is passi...
• Exchange Rate Regimes in the Modern Era AI翻译
  作者：Gagnon, Joseph
  作者单位：Peterson Institute for International Economics
• Habit formation and fiscal transmission in open economies AI翻译
  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...
• The effect of investor origin on firm performance: Domestic and foreign direct investment in the United States AI翻译
  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...
• In search of WTO trade effects: Preferential trade agreements promote trade strongly, but unevenly AI翻译
  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...
• Closing large open economy models AI翻译
  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...