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作者：Broda, Christian
作者单位：University of Chicago
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作者：Lane, Philip R.; Milesi-Ferretti, Gian Maria
作者单位：Trinity College Dublin; International Monetary Fund
摘要：We construct estimates of external assets and liabilities for 145 countries for 1970-2004. We describe our estimation methods and key features of the data at the country and global level. We focus on trends in net and gross external positions, and the composition of international portfolios. We document the increasing importance of equity financing and the improvement in the external position for emerging markets, and the differing pace of financial integration between advanced and developing ...
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作者：Aghion, Philippe; Antras, Pol; Helpman, Elhanan
作者单位：Harvard University; National Bureau of Economic Research; Centre for Economic Policy Research - UK; Canadian Institute for Advanced Research (CIFAR)
摘要：We develop a dynamic bargaining model in which a leading country endogenously decides whether to sequentially negotiate free trade agreements with subsets of countries or engage in simultaneous multilateral bargaining with all countries at once. We show how the structure of coalition externalities shapes the choice between sequential and multilateral bargaining, and we identify circumstances in which the grand coalition is the equilibrium outcome, leading to worldwide free trade. A model of in...
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作者：Corsetti, Giancarlo; Martin, Philippe; Pesenti, Paolo
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; European University Institute; Centre for Economic Policy Research - UK; heSam Universite; Universite Pantheon-Sorbonne; Paris School of Economics; National Bureau of Economic Research
摘要：This paper analyzes the international transmission and welfare implications of productivity gains and changes in market size when macroeconomic adjustment occurs both along the intensive margin of trade (changes in the relative price of existing varieties of tradable goods) and the extensive margin (creation and destruction of varieties). We draw a distinction between productivity gains that enhance manufacturing efficiency and gains that lower the cost of firms' entry and of product different...
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作者：Biscourp, Pierre; Kramarz, Francis
摘要：We use the French Customs files, an exhaustive account of the international trade transactions carried out by firms across the period 1986-1992, to analyze the link between imports, exports, employment, and skill structure of French manufacturing firms. Our data allow us to distinguish between imports of finished goods and imports of intermediate inputs. Our results show that there is a strong correlation between increasing imports, in particular imports of finished goods, and job destruction,...
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作者：Bown, Chad P.; Crowley, Meredith A.
作者单位：Brandeis University; Brandeis University; Federal Reserve System - USA; Federal Reserve Bank - Chicago
摘要：This is the first paper to empirically examine whether a country's use of an import restricting trade policy distorts a foreign country's exports to third markets. We first develop a theoretical model of worldwide trade in which the imposition of antidumping and safeguard tariffs, or trade remedies, by one country causes significant distortions in world trade flows. We then empirically test this model by investigating the effect of the United States' use of such import restrictions on Japanese...
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作者：Furusawa, Taiji; Konishi, Hideo
作者单位：Hitotsubashi University; Boston College
摘要：The paper examines the formation of free trade agreements (FTAs) as a network formation game. We consider an n-country model in which (possibly asymmetric) countries trade differentiated industrial commodities. We show that if all countries are symmetric, the complete FTA network is pairwise stable and it is the unique stable network if industrial commodities are not highly substitutable. We also compare FTAs and customs unions (CUs) as to which of these two regimes facilitates global trade li...
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作者：Subramanian, Arvind; Wei, Shang-Jin
作者单位：University System of Maryland; University of Maryland College Park; National Bureau of Economic Research
摘要：This paper furnishes robust evidence that the WTO has had a strong positive impact on trade, amounting to about 120% of additional world trade (or US$ 8 trillion in 2000 alone). The impact has, however, been uneven. This, in many ways, is consistent with theoretical models of the GATT/WTO. The theory suggests that the impact of a country's membership in the GATT/WTO depends on what the country does with its membership, with whom it negotiates, and which products the negotiation covers. Using a...
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作者：Miyagiwa, Kaz; Ohno, Yuka
作者单位：Emory University; Deloitte Touche Tohmatsu Limited
摘要：In the R&D-intensive industries, where technologies change rapidly, an innovative foreign firm may need to export greater than normal quantities to signal the level of the new technology it possesses. We find that such actions lead to sales below cost if the foreign firm has a relatively poor reputation for innovation, has a sufficiently high discount factor or possesses a new technology that significantly cuts its cost. We also show that antidumping reduces the costs of signaling, benefits th...
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作者：Alfaro, Laura; Hammel, Eliza
作者单位：Harvard University
摘要：Studying the relation between equity market liberalization and imports of capital goods, we examine one channel through which international financial integration can promote growth. For the period 1980-1997, we find that after controlling for other policies and fundamentals, stock market liberalizations are associated with a significant increase in the share of imports of machinery and equipment. We hypothesize this can be attributed to the consequences of financial integration, which allows a...
