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作者：Cuadra, Gabriel; Sapriza, Horacio
作者单位：Rutgers University System; Rutgers University Newark; Rutgers University New Brunswick; Rutgers University System; Rutgers University New Brunswick
摘要：A large body of the empirical literature shows that high turnover rates/length of tenure of policymakers and the degree of conflict within a country affects sovereign spreads, debt and default rates. We help to rationalize such claims by including these political features in a dynamic stochastic small open economy model of sovereign debt and default. In this way we offer a complementary approach to the econometric analyses in the literature. Consistent with the data, the quantitative analysis ...
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作者：Shambaugh, Jay
作者单位：Dartmouth College
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作者：Bombardini, Matilde
作者单位：University of British Columbia; Canadian Institute for Advanced Research (CIFAR)
摘要：The structure of protection across sectors has been interpreted as the result of competition among lobbies to influence politicians, but lobbies have been treated as unitary decision makers and little attention has been devoted to the importance of individual firms in this process. This paper builds a model where individual firms determine the amount of resources to allocate to political contributions and shows that, in the presence of a fixed cost of channeling political contributions, it is ...
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作者：Baldwin, Richard E.; Robert-Nicoud, Frederic
作者单位：University of London; London School Economics & Political Science
摘要：This paper explores the impact of trade on growth when firms are heterogeneous. We find that greater openness produces anti- and pro-growth effects. The Hopenhayn-Melitz-model selection effects raises the expected cost of introducing a new variety and this tends to slow the rate of new-variety introduction and hence growth. The pro-growth effect stems from the impact that freer trade has on the marginal cost of innovating. The balance of the two effects is ambiguous with the sign depending upo...
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作者：Crozet, Matthieu; Trionfetti, Federico
作者单位：Universite de Reims Champagne-Ardenne; Aix-Marseille Universite
摘要：Most of the theoretical and empirical studies on the Home Market Effect (HME) assume the existence of an outside good that absorbs all trade imbalances and equalizes wages. We study the consequences on the HME of removing this assumption. The HME is attenuated and, more interestingly, it becomes non-linear. The non-linearity implies that the HME is more important for very large and very small countries than for medium size countries. The empirical investigation conducted on a database comprisi...
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作者：Rutherford, Thomas F.; Tarr, David G.
作者单位：The World Bank; Swiss Federal Institutes of Technology Domain; ETH Zurich
摘要：We employ a computable general equilibrium model of the Russian economy to assess the impact of accession to the World Trade Organization (WTO) on income distribution and the poor. We incorporate all 55,098 households from the Russian Household Budget Survey as agents in the model. The model includes FDI in services and Dixit-Stiglitz endogenous productivity effects in imperfectly competitive goods and services sectors, features which are crucial to the results. We show that incorporating the ...
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作者：Egger, Peter; Larch, Mario
作者单位：Leibniz Association; Ifo Institut; Leibniz Association; Ifo Institut; University of Munich; University of Nottingham
摘要：The establishment of a new preferential trade agreement (PTA) or the expansion of an existing one alters the incentives of non-members to participate in a PTA. This can lead to a domino effect whereby non-members join an existing PTA. Or it can lead a pair of countries to establish a new PTA. We examine the determinants of why a pair of countries enters a bilateral PTA. Our emphasis is on (a) the impact of pre-existing PTAs and (b) whether this impact is larger when the members of pre-existing...
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作者：Mancusi, Maria Luisa
作者单位：Bocconi University
摘要：This paper brings together the issues of knowledge spillovers and absorptive capacity, by assessing the role of prior R&D experience in enhancing a country's ability to understand and improve upon external knowledge. International spillovers innovative productivity in laggard countries, while technological leaders are a source rather than a destination of knowledge flows. Quantitative estimates of the effect of absorptive capacity on innovative performance, through knowledge spillovers, show t...
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作者：Mejean, Isabelle
作者单位：Institut Polytechnique de Paris; Ecole Polytechnique
摘要：This paper examines the determinants of relative prices in a model combining a Harrod-Balassa-Samuelson (HBS) mechanism and an endogenous location of traded good producers. Besides the standard HBS effect, asymmetric productivity improvements in the traded good sector push new firms to enter the market. This benefits local consumers who save on trade costs and exerts an upward pressure on relative wages. As a consequence, relative prices in the traded good sector either increase or fall in gen...
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作者：Choi, Horag; Mark, Nelson C.; Sul, Donggyu
作者单位：University of Auckland; University of Notre Dame; National Bureau of Economic Research
摘要：We study the evolution of the U.S. current account in a two-country dynamic stochastic endowment model in which a single non-state contingent bond is the only internationally traded asset. The paper focuses on the world 'saving glut' as the primary cause of continual deterioration in the current account and departs from the standard framework by introducing a three-parameter model of the subjective discount factor that depends on societal (per capita) variables that are external to household c...
