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作者：Klimenko, Mikhail; Ramey, Garey; Watson, Joel
作者单位：University System of Georgia; Georgia Institute of Technology; University of California System; University of California San Diego; University of California System; University of California San Diego
摘要：This paper presents a theory of dynamic trade agreements in which external institutions, such as the WTO, play a central role in supporting credible enforcement. In our model, countries engage in ongoing negotiations, and, as a consequence, cooperative agreements become unsustainable in the absence of external enforcement institutions. By using mechanisms such as delays in dispute resolution and direct penalties, enforcement institutions can restore incentives for cooperation, despite the lack...
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作者：Matschke, Xenia
作者单位：University of Connecticut
摘要：A standard finding in the political economy of trade policy literature is that we should expect export-oriented industries to attract more assistance than import-competing industries. In reality, however, trade policy is heavily biased toward supporting import industries. This paper shows how the costliness of raising revenue via taxation makes trade subsidies less desirable and trade taxes more desirable in a standard protection for sale framework. The model is then estimated and its predicti...
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作者：Berthelon, Matias; Freund, Caroline
作者单位：The World Bank; Pontificia Universidad Catolica de Valparaiso
摘要：Using disaggregated bilateral trade data, we find that the elasticity of trade to distance increased (in absolute value) by about 10% since 1985. To explore the reasons for this shift, we decompose the change in the distance elasticity of trade into the part due to a shift in the composition of trade among industries and the part due to a change in the distance sensitivity within industries. We find that adjustment in the composition of trade had little effect, but for 40% of industries distan...
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作者：Alessandria, George; Delacroix, Alain
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Philadelphia; University of Quebec; University of Quebec Montreal
摘要：We study the relation between international trade and the gains to reform labor markets by removing firing restrictions. We find that trade linkages imply substantially smaller benefits to reform than those calculated in the closed economy general equilibrium model of Hopenhayn and Rogerson [Hopenhyn, Hugo, Rogerson, Richard, 1993. Job Turnover and policy evaluations: a general equilibrium analysis. journal of Political Economy 101 (5), 915-938 October]. When economies trade, labor market poli...
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作者：Pham, Cong S.
作者单位：Deakin University
摘要：in an influential paper, Schott [Schott. Peter K. (2004). Across-product versus within-product specialization in international trade. Quarterly Journal of Economics, 119 (2): 647-678] makes two empirical observations about U.S. imports. (1) The United States is increasingly sourcing the same product (however narrowly defined) from both developed and developing countries. That is, 'across-product specialization' has been decreasing. (2) The unit values of these multiple-sourced products are pos...
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作者：Bucovetsky, Sam; Haufler, Andreas
作者单位：University of Munich; York University - Canada
摘要：We analyze a sequential game between two symmetric countries when firms can invest in a multinational structure that conferse tax savings. Governments are able to commit to long-run tax discrimination policies before firms' decisions are made and statutory capital tax rates are chosen non-cooperatively. Whether a coordinated reduction in the tax preferences granted to firms is beneficial or harmful for the competing countries depends critically on the elasticity with which the firms organizati...
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作者：Goldberg, Linda S.; Tille, Cedric
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; National Bureau of Economic Research
摘要：We explore the major driving forces for currency invoicing in international trade with a simple model and a novel dataset covering 24 countries. We contrasts a coalescing effect, where exporters minimize the movements of their prices relative to their competitors', with incentives to hedge macroeconomic volatility and transaction costs. The key determinants of invoice currency choice are industry features and country size, with some role for foreign-exchange bid-ask spreads. The coalescing eff...
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作者：Sembenelli, Alessandro; Siotis, Georges
作者单位：Universidad Carlos III de Madrid; University of Turin; Collegio Carlo Alberto
摘要：A review of the literature indicates that Foreign Direct Investment has the potential to increase the intensity of competition and to act as a channel for technology transfers. Using a Spanish firm level data set, we disentangle these effects by estimating a dynamic model of firm level performance, which we proxy by mark-ups. We find that FDI has a positive long-run effect on the mark-ups of targets, but this is limited to firms in R&D intensive sectors. In addition, we find weak evidence that...
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作者：Aw, Bee Yan; Lee, Yi
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：This paper examines the extent to which production location decisions of Taiwanese multinationals reflect underlying patterns of firm productivity. In our theoretical model, heterogeneous firms in a middle-income country decide on the optimal production locations for serving three geographically separate markets: domestic, foreign high-income and foreign low-income. The model shows that the equilibrium decision of a firm depends on the fixed investment costs of establishing foreign subsidiarie...
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作者：Friberg, Richard; Wilander, Fredrik
作者单位：Stockholm School of Economics
摘要：We report survey results on the currency choice of a random sample of Swedish exporters. We find that for an overwhelming share of exports, the price, invoice and settlement currency is the same. The currency of the customer is the most used, with Swedish kronor and vehicle currencies accounting for approximately equal shares. Currency choice is similar for intra-firm and between-firm trade. We also find that negotiations are important for both the price and for the currency choice. A minority...
