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作者：Baier, Scott L.; Bergstrand, Jeffrey H.
作者单位：University of Notre Dame; Clemson University; Federal Reserve System - USA; Federal Reserve Bank - Atlanta; University of Notre Dame; Leibniz Association; Ifo Institut
摘要：Using a Taylor-series expansion, we solve for a simple reduced-form gravity equation revealing a transparent theoretical relationship among bilateral trade flows, incomes, and trade costs, based upon the model in Anderson and van Wincoop [Anderson, James E., and van Wincoop, Eric. Gravity with Gravitas: A Solution to the Border Puzzle. American Economic Review 93, no. 1 (March 2003): 170-192.]. Monte Carlo results support that virtually identical coefficient estimates are obtained easily by es...
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作者：Stoyanov, Andrey
作者单位：York University - Canada
摘要：This paper studies the effect of foreign lobbies on trade policy of a country which is a member of a Free Trade Agreement (FTA). It uses a monopolistically competitive political economy model in which the government determines external tariffs endogenously. The effect of foreign lobbying under the FTA is examined empirically using Canadian industry-level trade data that allow differentiating of lobby groups by the country of origin. The analysis suggests that the presence of foreign lobbying h...
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作者：Acosta, Pablo A.; Lartey, Emmanuel K. K.; Mandelman, Federico S.
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Atlanta; The World Bank; California State University System; California State University Fullerton
摘要：Using data for El Salvador and Bayesian techniques, we develop and estimate a two-sector dynamic stochastic general equilibrium model to analyze the effects of remittances on emerging market economies. We find that, whether altruistically motivated or otherwise, an increase in remittance flows leads to a decline in labor supply and an increase in consumption demand that is biased toward non-tradables. The higher non-tradable prices serve as incentive for an expansion of that sector, culminatin...
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作者：Brambilla, Irene
作者单位：Yale University; National Bureau of Economic Research
摘要：Multiproduct firms and product turnover are widespread phenomena. This paper develops a theoretical framework that links advantages in R&D and variable costs with firm's ability to expand its portfolio of products. The framework is then applied to explain systematic differences in product introduction by affiliates of multinationals and firms that only operate domestically. Using firm-level data for the Chinese manufacturing sector during 1998-2000, I compare the performance of foreign and dom...
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作者：Kuhn, Peter; McAusland, Carol
作者单位：University System of Maryland; University of Maryland College Park; University of California System; University of California Santa Barbara; National Bureau of Economic Research
摘要：We consider the welfare effects of skilled worker emigration in a context where skilled labor plays a role in product or process design. We show such emigration can benefit the residents left behind, even when consumers' tastes exhibit a form of home bias. This is because emigration improves the design of goods designed by skilled emigrants but consumed in the sending country. In contrast to existing models of beneficial brain drain, our results do not require agglomeration economies, educatio...
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作者：Kano, Takashi
作者单位：University of Tokyo
摘要：In a recent paper, Gruber (Gruber, J.W., 2004. A present value test of habits and the current account. journal of Monetary Economics 51, 1495-1507) claims that habit formation in consumption plays an important role in current account fluctuations in selected developed countries, extending the present-value model of the current account (PVM) with consumption habits. In this paper, however, I show that the habit-forming PVM is observationally equivalent to the PVM augmented with persistent trans...
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作者：Hagen, Rune Jansen
作者单位：University of Bergen
摘要：I analyse the role of multilateral financial institutions in a world of global capital markets assuming that they have an informational advantage over private lenders in the market for sovereign debt. I show that the adverse selection problem in this market may be solved through certification if the multilateral agency does not care too much about borrower country welfare. However, with lending the private information of the agency will be revealed whatever its weighting of borrower welfare vs...
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作者：Manasse, Paolo; Roubini, Nouriel
作者单位：University of Bologna; New York University
摘要：This paper investigates the economic and political conditions that are associated to the occurrence of a sovereign debt crisis. We use a new statistical approach (Classification and Regression Tree) that allows us to derive a collection of rules of thumb that help identify the typical characteristics of defaulters. We find that not all crises are equal: they differ depending on whether the government faces insolvency, illiquidity or various macroeconomic risks. We also characterize the set of ...
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作者：Molodtsova, Tanya; Papell, David H.
作者单位：University of Houston System; University of Houston; Emory University
摘要：An extensive literature that studied the performance of empirical exchange rate models following Meese and Rogoffs [Meese, R.A., Rogoff, K., 1983a, Empirical Exchange Rate Models of the Seventies: Do They Fit Out of Sample? journal of International Economics 14,3-24.] seminal paper has not convincingly found evidence of out-of-sample exchange rate predictability This paper extends the conventional set of models of exchange rate determination by investigating predictability of models that incor...
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作者：Prasad, Eswar S.
作者单位：Cornell University
