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作者：Costinot, Arnaud
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research
摘要：This paper proposes a simple theory of international trade with endogenous productivity differences across countries. The core of our analysis lies in the determinants of the division of labor. We consider a world economy comprising two large countries, with a continuum of goods and one factor of production, labor. Each good is characterized by its complexity, defined as the number of tasks that must be performed to produce one unit, There are increasing returns to scale in the performance of ...
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作者：Tovar, Patricia
作者单位：Brandeis University
摘要：We study the implications of loss aversion for trade policy determination and show how it allows us to explain a number of important and puzzling features of trade policy. Some important questions concerning trade policy are why a disproportionate share of protection goes to declining industries and why trade policy has an anti-trade bias. We show that if individual preferences exhibit sufficient loss aversion, higher protection will be given to sectors in which profitability is declining. We ...
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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：This paper provides the first cross-section estimates of long-run treatment effects of free trade agreements on members' bilateral international trade flows using (nonparametric) matching econometrics. Our nonparametric cross-section estimates of ex post long-run treatment effects are much more stable across years and have more economically plausible values than corresponding OLS cross-section estimates from typical gravity equations. We provide plausible estimates of the long-run effects of m...
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作者：Gust, Christopher; Leduc, Sylvain; Sheets, Nathan
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors; Federal Reserve System - USA; Federal Reserve Bank - San Francisco
摘要：This paper assesses whether partial exchange-rate pass-through to trade prices has important implications for the prospective adjustment of global external imbalances. To address this question, we develop and estimate an open-economy DSCE model in which pass-through is incomplete due to the presence of local currency pricing, distribution services, and a variable demand elasticity that leads to fluctuations in optimal markups. We find that the overall magnitude of trade adjustment is similar i...
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作者：Kim, Soyoung; Roubini, Nouriel
作者单位：Korea University; New York University
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作者：Aldashev, Gani; Verdier, Thierry
作者单位：University of Namur; University of Southampton
摘要：Why are many large non-governmental organizations (NGOs) becoming multinational entities? What are the welfare implications of this integration of markets for development donations? To answer these questions, we build a simple two-country model with horizontally differentiated NGOs competing in fundraising. We find that NGCs become multinational if the economies of scale in fundraising are sufficiently large. In that case, national NGOs in the smaller country disappear, while some national NGO...
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作者：Bastos, Paulo; Kreickemeier, Udo
作者单位：University of Nottingham
摘要：We develop a two-country, multi-sector model of oligopoly in which unionised and non-unionised sectors interact in general equilibrium. The model is used to study the impact of trade liberalisation, deunionisation and firm entry on wages in unionised and non-unionised sectors, and on welfare. We find that a shift from autarky to free trade increases non-union wages and welfare, whereas the effect oil union wages is ambiguous. We also show that partial deunionisation leads to higher wages in bo...
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作者：Bjornland, Hilde C.
作者单位：BI Norwegian Business School; Norges Bank
摘要：Dornbusch's exchange rate overshooting hypothesis is a central building block in international macroeconomics. Yet, empirical studies of monetary policy have typically found exchange rate effects that are inconsistent with overshooting. This puzzling result has been viewed by some researchers as a stylized fact to be reckoned with in policy modelling. However, many of these studies, in particular those using vector autoregressive (VARs) approaches, have disregarded the strong contemporaneous i...
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作者：Choi, Yo Chul; Hummels, David; Xiang, Chong
作者单位：Purdue University System; Purdue University; Bank of Korea
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作者：Neiman, Brent; Swagel, Phillip
作者单位：University of Chicago
摘要：American and foreign businesses, politicians, and media have all pointed to post-9/11 changes in visa policies as being responsible for the sharp decline in travel to the United States following the attacks. Using an empirical model which distinguishes the impact of visa policy from economic and country-specific factors, we find that changes in visa policy were not important contributors to the decrease in travel to the United States. Rather, the reduction in entries was largest among traveler...
