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作者：Ferrero, Andrea
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：This paper addresses the optimal joint conduct of fiscal and monetary policy in a two-country model of a currency union with staggered price setting and distortionary taxes. A tractable linear-quadratic approximation permits a representation of the optimal policy plan in terms of targeting rules. In the optimal equilibrium, monetary policy should achieve aggregate price stability following a flexible inflation targeting rule. Fiscal policy should stabilize idiosyncratic shocks allowing for per...
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作者：Chamon, Marcos; Kremer, Michael
作者单位：International Monetary Fund; Harvard University; National Bureau of Economic Research; Brookings Institution
摘要：We present and calibrate a model where trade with advanced economies spurs development, and trade opportunities depend on the relative population in advanced and developing countries. As developing countries become advanced, prospects improve for the remaining developing countries. If population growth differentials between developing and advanced economies are small, economic development accelerates over time. Otherwise, long-run global prosperity requires a sufficiently large initial populat...
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作者：Partridge, Mark D.; Rickman, Dan S.; Ali, Kamar; Olfert, M. Rose
作者单位：University System of Ohio; Ohio State University; Oklahoma State University System; Oklahoma State University - Stillwater; University of Saskatchewan
摘要：The tyranny of distance in terms of its effect on median earnings and housing costs is examined for rural and urban U.S. counties. First, we develop a series of distance metrics for an area's remoteness from multiple tiers of the urban hierarchy. Second, we consider geographical access of buyers and sellers through market potential measures typical of those used in empirical studies of the New Economic Geography. We estimate penalties of about 5 to 9% for median earnings and 12 to 17% for hous...
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作者：Kalemli-Ozcan, Sabnem
作者单位：University of Houston System; University of Houston
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作者：Keuschnigg, Christian; Ribi, Evelyn
作者单位：University of St Gallen; Centre for Economic Policy Research - UK; Leibniz Association; Ifo Institut
摘要：The paper investigates the consequences of outsourcing of labor intensive activities to low-wage economies. This trend challenges the two basic functions of the welfare state, redistribution and social insurance when private unemployment insurance markets are missing. The main results are: (i) outsourcing raises unemployment and labor income risk of unskilled workers; (ii) it increases inequality between high- and low-income groups; and (iii) the gains from outsourcing can be made Pareto impro...
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作者：Seidmann, Daniel J.
作者单位：University of Nottingham
摘要：We analyze a three-country model of trade negotiations in which countries can form bilateral free trade areas, bilateral customs unions or a trilateral preferential trading arrangement, and can continue negotiating after reaching an agreement. In contrast to the literature on multilateral bargaining, the set of agreements can form a (nonpartitional) network, while in contrast to the network literature, players can reach multilateral agreements. Patient enough countries only reach bilateral agr...
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作者：Balat, Jorge; Brambilla, Irene; Porto, Guido
作者单位：Yale University; National Bureau of Economic Research; The World Bank
摘要：This paper explores the role of export costs in the process of poverty reduction in rural Africa. We claim that the marketing costs that emerge when the commercialization of export crops requires intermediaries can lead to lower participation into export cropping and, thus, to higher poverty. We test the model using data from the Uganda National Household Survey. We show that: i) farmers living in villages with fewer outlets for sales of agricultural exports are likely to be poorer than farmer...
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作者：Dutt, Pushan; Mitra, Devashish; Ranjan, Priya
作者单位：Syracuse University; INSEAD Business School; University of California System; University of California Irvine
摘要：We present a model of trade and search-induced unemployment, where trade results from Heckscher-Ohlin (H-O) and/or Ricardian comparative advantage. Using cross-country data on trade policy, unemployment, and various controls, and controlling for endogeneity and measurement-error problems, we find fairly strong and robust evidence for the Ricardian prediction that unemployment and trade openness are negatively related. This effect dominates the positive H-O effect of trade openness on unemploym...
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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...
