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作者：Vogel, Jonathan
作者单位：Princeton University
摘要：I investigate the interaction between international trade and national institutional development in an environment characterized by heterogeneous individuals choosing their education levels to maximize their utilities; and institutions alleviating moral hazard by allowing managers to better observe and verify the productive efforts of workers. Liberalized trade allows institutions to serve as independent sources of comparative advantage. In this setting, I examine the effect of trade liberaliz...
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作者：Davidson, Carl; Matusz, Steven J.; Nelson, Douglas R.
作者单位：Michigan State University; University of Nottingham; Tulane University
摘要：When the median voter loses from trade reform, liberalization is blocked. Allowing the electorate to vote for compensatory subsidies may reverse this outcome. However, the order of the agenda may matter. The winners who pay the compensation may be sufficiently powerful to block compensation if trade is first liberalized. Seeing the inevitable outcome of sequential votes, the median voter realizes he will not be compensated for his losses and opposes liberalization. In contrast, liberalization ...
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作者：Lahiri, Amartya; Singh, Rajesh; Vegh, Carlos
作者单位：Iowa State University; University of British Columbia; University System of Maryland; University of Maryland College Park; University of California System; University of California Los Angeles; National Bureau of Economic Research
摘要：This paper revisits the issue of the optimal exchange rate regime in a flexible price environment. The key innovation is that we analyze this question in the context of environments where only a fraction of agents participate in asset market transactions (i.e., asset markets are segmented). Under this friction alternative exchange rate regimes have different implications for real allocations in the economy. In the context of this environment we show that flexible exchange rates are optimal und...
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作者：Meissner, Christopher M.
作者单位：University of Cambridge
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作者：Laussel, Didier; Paul, Thierry
作者单位：Aix-Marseille Universite; Aix-Marseille Universite
摘要：We study a two-country two-sector model with free entry and monopolistic competition where both industries use labour to produce differentiated goods. The two countries are identical except for size. Labour is freely mobile across industries but it cannot move internationally. Transport costs affect both industries. The location of industries and the pattern of trade are the results of the interaction of two effects: the home market effect and the wage differential effect. The main results are...
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作者：Almeida, Rita
作者单位：The World Bank
摘要：Foreign firms have a more educated workforce and pay higher wages than domestic firms even after controlling for worker quality, at a given moment in time. This does not imply that foreign ownership improves the labor market outcomes of the workers since foreign investment may be guided by unobservable firm and worker characteristics correlated with schooling or wages. This paper asks whether foreign investors acquire firms with high human capital or wages, or whether foreign acquisition impro...
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作者：Girma, Sourafel; Gorg, Holger
作者单位：University of Nottingham; University of Nottingham
摘要：This paper seeks to identify the causal effect of foreign acquisitions on wages of skilled and unskilled workers, using difference-in-differences propensity score matching estimators. Our results suggest that there is substantial heterogeneity in the post-acquisition wage effect depending on the nationality of the foreign acquirer and the skill group of workers. We find sizable post acquisition wage effects on skilled and unskilled wages following an acquisition by a US firm. No such impacts r...
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作者：Bagwell, Kyle; Mavroidis, Petros C.; Staiger, Robert W.
作者单位：National Bureau of Economic Research; Columbia University; Columbia University; Stanford University; Columbia University; University of Neuchatel
摘要：We offer a first formal analysis of auctioning retaliation rights within the WTO. We show that the auctions exhibit externalities among bidders, and we characterize equilibrium bidder behavior under alternative auction formats. If the violating country is prevented from bidding to retire the right of retaliation against it, then the possibility of auction failure arises, whereby no bids are made despite positive valuation by bidders. If the violating country is instead permitted to bid, then a...
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作者：Saint-Paul, Gilles
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Hautes Etudes Commerciales (HEC) Paris
摘要：An increase in the range of tradable goods is analyzed in a two-country Dombusch-Fischer-Samuelson style model, where labor cannot relocate to another sector upon a non-expected increase in the range of goods that can be traded. The effect of liberalization on the terms of trade tend to favor the poorer country (the East), if (as assumed) the most sophisticated goods are tradable before reform. Second, under ex-post liberalization, there exists a class of workers in the West who are harmed bec...
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作者：Adolfson, Malin; Laseen, Stefan; Linde, Jesper; Villani, Mattias
作者单位：Sveriges Riksbank; Stockholm University
摘要：In this paper, we develop a dynamic stochastic general equilibrium (DSGE) model for an open economy, and estimate it on Euro area data using Bayesian estimation techniques. The model incorporates several open economy features, as well as a number of nominal and real frictions that have proven to be important for the empirical fit of closed economy models. The paper offers: i) a theoretical development of the standard DSGE model into an open economy setting, ii) Bayesian estimation of the model...
