2期

最新文章

• Global capitalism: Its fall and rise in the twentieth century AI翻译
  作者：Meissner, Christopher M.
  作者单位：University of Cambridge
• Auctioning countermeasures in the WTO AI翻译
  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...
• Bayesian estimation of an open economy DSGE model with incomplete pass-through AI翻译
  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...
• Emerging capital markets in turmoil AI翻译
  作者：Broda, Christian
  作者单位：University of Chicago
• The external wealth of nations mark II: Revised and extended estimates of foreign assets and liabilities, 1970-2004 AI翻译
  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 ...
• Free trade networks AI翻译
  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...
• Financial factors and exporting decisions AI翻译
  作者：Greenaway, David; Guariglia, Alessandra; Kneller, Richard
  作者单位：University of Nottingham
  摘要：Is financial health a determinant of export market participation? Is it an outcome? Using a panel of 9292 UK manufacturing firms over the period 1993-2003, we explore the links between firms' financial health and their export market participation decisions. We find that exporters exhibit better financial health than non-exporters. Yet, when we differentiate between continuous exporters and starters, we see that this result is driven by the former. Starters generally display low liquidity and h...
• Interacting factor endowments and trade costs: A multi-country, multi-good approach to trade theory AI翻译
  作者：Markusen, James R.; Venables, Anthony J.
  作者单位：University of Colorado System; University of Colorado Boulder; University of Oxford; National Bureau of Economic Research; University College Dublin
  摘要：We provide a synthetic analysis of the different ways in which countries participate in the world economy. Classic trade questions are reconsidered by generalizing a factor-proportions model to multiple countries, multiple goods or multi-stage production, and country-specific trade costs. Each country's production specialization, trade and welfare is determined by the interaction between its relative endowment and its trade costs. We consider the effects of allowing one good to 'fragment' into...
• International competition, downsizing and wage inequality AI翻译
  作者：Walde, Klaus; Weiss, Pia
  作者单位：University of Wurzburg; Technische Universitat Chemnitz; Universite Catholique Louvain
  摘要：A country with Cournot competition and free entry experiences an increase of its market size either due to economic growth or international integration of its goods markets. This implied increase in competition leads to shrinking mark-ups and forces firms to reduce overhead costs relative to output. This implies a reallocation at the aggregate level from administrative to productive activities. Relative factor rewards change and wage inequality increases. The factor which loses in relative ter...
• A knowledge-and-physical-capital model of international trade flows, foreign direct investment, and multinational enterprises AI翻译
  作者：Bergstrand, Jeffrey H.; Egger, Peter
  作者单位：University of Notre Dame; University of Notre Dame; Leibniz Association; Ifo Institut; University of Munich; Leibniz Association; Ifo Institut
  摘要：This paper addresses two important issues at the nexus of the literatures on international trade, foreign direct investment (FDI), foreign affiliate sales (FAS), and multinational enterprises (MNEs). First, the introduction of a third internationally-mobile factor (physical capital) to the standard 2 x 2 x 2 knowledge capital model of MNEs with skilled and unskilled labor allows us to resolve fairly readily the puzzle in the modem MNE literature that foreign affiliate sales among two identical...