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作者：Caballero, Ricardo J.; Yared, Pierre
作者单位：Columbia University; Massachusetts Institute of Technology (MIT)
摘要：The conventional wisdom is that politicians rent seeking motives increase public debt and deficits This is because myopic politicians face political risk and prefer to extract political rents as early as possible In this paper we study the determination of government debt and deficits in a dynamic political economy model We show that this conventional wisdom relies on economic volatility being low relative to political uncertainty If economic volatility is high relative to political uncertaint...
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作者：Chen, Maggie Xiaoyang; Joshi, Sumit
作者单位：George Washington University; George Washington University
摘要：The recent proliferation of free trade agreements (FTAs) has resulted in an increasingly complex network of preferential trading relationships The economics literature has generally examined the formation of FTAs as a function of the participating countries economic characteristics alone In this paper we show both theoretically and empirically that the decision to enter into an ETA is also crucially dependent on the participating countries existing FTA relationships with third countries Accoun...
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作者：Hellerstein, Rebecca; Villas-Boas, Sofia B.
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; University of California System; University of California Berkeley
摘要：A large share of international trade occurs through intra-firm transactions. We show that this common cross-border organization of the firm has implications for the well-documented incomplete transmission of shocks across such borders. We present new evidence of an inverse relationship between a firm's outsourcing of inputs and its rate of exchange-rate pass-through. We then develop a structural econometric model with final assemblers and upstream parts suppliers to quantify how firms' organiz...
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作者：Disdier, Anne-Celia; Head, Keith; Mayer, Thierry
作者单位：University of British Columbia; AgroParisTech; Universite Paris Saclay; INRAE; Institut d'Etudes Politiques Paris (Sciences Po); Centre for Economic Policy Research - UK
摘要：Free trade in audio-visual services has faced opposition on the grounds that foreign media undermine domestic culture, and ultimately, global diversity Using a long panel of French birth registries, we assess the media-culture link using name frequencies as a measure of tastes Controlling for the number of people who currently have a name and unobserved name effects, our regressions show that media influences choices via selective imitation Parents are much more likely to adopt media names tha...
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作者：Levich, Richard M.
作者单位：New York University
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作者：Olivero, Maria Pia
作者单位：Drexel University
摘要：By introducing an imperfectly competitive banking sector into a standard two-country, two-good RBC model with complete asset markets, we study the international transmission of aggregate TFP shocks in an environment with noncompetitive financial intermediation In this model, price-cost margins in a global loan market are endogenous and countercyclical As a result, a positive TIT shock in one country spills over to another through a reduction in the global cost of both credit and externally fin...
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作者：Falvey, Rod; Greenaway, David; Silva, Joana
作者单位：University of Nottingham; University of Nottingham; Bond University; Bond University; The World Bank
摘要：This paper highlights the way in which workers of different ages and abilities are affected by anticipated and unanticipated trade liberalisations. A two-factor (skilled and unskilled labour), two-sector Heckscher-Ohlin trade model is supplemented with an education sector which uses skilled labour and time to convert unskilled workers into skilled workers. A skilled worker's income depends on her ability, but all unskilled workers have the same income. Trade liberalisation in a relatively skil...
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作者：Blonigen, Bruce A.; Wilson, Wesley W.
作者单位：University of Oregon; National Bureau of Economic Research
摘要：The US. steel industry has long held that foreign subsidization and excess capacity has led to its long-run demise, yet no one has formally examined this hypothesis. In this paper, we incorporate foreign subsidization considerations into a model based on Staiger and Wolak's (1992) cyclical dumping framework and illustrate testable implications of both cyclical excess capacity and structural excess capacity stemming from foreign subsidization We then use detailed product- and foreign country-le...
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作者：Haufler, Andreas; Wooton, Ian
作者单位：University of Munich; Leibniz Association; Ifo Institut; University of Strathclyde
摘要：We set up a model of generalised oligopoly where two countries of different size compete for an exogenous, but variable. number of identical firms. The model combines a desire by national governments to attract internationally mobile firms with the existence of location rents that arise even in a symmetric equilibrium where firms are dispersed As economic integration proceeds. equilibrium taxes initially decline, but then rise again as trade costs fall even further A range of trade costs is id...
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作者：Blonigen, Bruce A.; Soderbery, Anson
作者单位：University of Oregon; University of Oregon; National Bureau of Economic Research; University of California System; University of California Davis
摘要：Recent studies have used import data to assess the Impact of foreign varieties on domestic prices and welfare We employ a market based data set on the US automobile market that allows us to define goods varieties at a more precise level as well as discern location of production and ownership of varieties Our estimates of price and welfare changes from new varieties in the US automobile sector are twice as large as standard estimates when using our detailed market-based data We also show that n...
