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作者：Enders, Zeno; Mueller, Gernot J.
作者单位：University of Bonn
摘要：Using vector autoregressions on U.S. time series and an aggregate of industrialized countries, we find that technology shocks appreciate the terms of trade and lower the trade balance; they induce an 'S'-shaped cross-correlation function for both variables (the S-curve). In calibrating a prototypical international business cycle model under complete and incomplete financial markets, we find two distinct sets of parameter values. While both model specifications deliver the S-curve, the underlyi...
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作者：Mejean, Isabelle; Schwellnus, Cyrille
作者单位：Institut Polytechnique de Paris; Ecole Polytechnique; Organisation for Economic Co-operation & Development (OECD); Organisation for Economic Co-operation & Development (OECD)
摘要：In this paper we use data on French export prices at the disaggregated firm and product level to evaluate the effect of economic integration on price convergence. We use the European integration 'experiment' and firm-level data on export prices to distinguish between two possible margins of adjustment: At the intensive margin economic integration induces different pricing strategies within the firm, whereas at the extensive margin it affects the composition of firms with different pricing stra...
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作者：Sener, Fuat; Zhao, Laixun
作者单位：Kobe University; Union College
摘要：This paper constructs a dynamic scale-free North-South model of trade with endogenous innovation. In the North a local-sourcing-targeted race and an outsourcing-targeted R&D race take place simultaneously within each industry. The former results in the winner firm manufacturing in the North, while the latter culminates in the winner firm's immediate outsourcing to the South, generating the iPod cycle. We study three aspects of globalization: reductions in the resource-requirement in outsourcin...
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作者：Landry, Anthony
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Dallas
摘要：This paper presents a two-country DSGE model with state-dependent pricing as in Dotsey et al. [Dotsey, M., King, R.G., and Wolman, A.L, 1999. State-dependent pricing and the general equilibrium dynamics of money and output. Quarterly journal of Economics 114, 655-690] and variable demand elasticity as in Kimball [Kimball, M.S., 1995. The quantitative analytics of the basis neomonetarist model. journal of Money, Credit, and Banking 27, 1241-1277]. Following a domestic monetary expansion, the mo...
