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作者：Fajnzylber, P; Maloney, WF
作者单位：The World Bank
摘要：Trade liberalization is thought to result in higher own-wage elasticities of labor demand, particularly for unskilled labor, with adverse implications for both labor market volatility and wage dispersion. The paper first argues that theoretically the link between liberalization and labor-demand elasticities is less clear than has previously been asserted. It then uses dynamic panel techniques to estimate labor-demand relations for manufacturing establishments in Chile, Colombia, and Mexico acr...
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作者：Mark, NC
作者单位：University of Notre Dame
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作者：Melitz, MJ
作者单位：Harvard University; National Bureau of Economic Research; Harvard University; Center for Economic & Policy Research (CEPR)
摘要：This paper develops and analyzes a welfare maximizing model of infant industry protection. The domestic infant industry is competitive and experiences dynamic learning effects that are external to firms. The competitive foreign industry is mature and produces a good that is an imperfect substitute for the domestic good. A government planner can protect the infant industry using domestic production subsidies, tariffs, or quotas in order to maximize domestic welfare over time. As protection is n...
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作者：Bagwell, K; Staiger, RW
作者单位：University of Wisconsin System; University of Wisconsin Madison; Columbia University
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作者：Albuquerque, R; Loayza, N; Servén, L
作者单位：University of Rochester; The World Bank
摘要：This paper is motivated by the unparalleled increase in foreign direct investment to emerging market economies of the last 25 years. Using a large cross-country time-series data set, we evaluate the dependence of foreign direct investment on global factors, or worldwide sources of risk (i.e., factors that drive foreign direct investment across several countries). We construct a globalization measure that equals the share of explained variation in direct investment attributable to global factor...
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作者：Chaboud, AP; Wright, JH
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors
摘要：if an investor borrows in a low interest currency and invests in a high interest currency, the interest differential accrues in a lumpy manner, formally just like the dividend payments on a stock. The investor will receive the interest differential discretely at the point when a position is rolled over from one day to the next. A position that is not held open overnight receives no interest differential because intradaily interest rates are zero. Using a large data set of intradaily exchange r...
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作者：Edmonds, EV; Pavcnik, N
作者单位：Dartmouth College; National Bureau of Economic Research
摘要：The question of how trade liberalization affects the employment of children in developing economies is at the core of the debate on globalization. Trade theory predicts that an increase in the price of an exported good could either increase or decrease child labor depending on the magnitudes of the substitution and income effects. In this paper, we study the relationship between changes in the relative price of an exported commodity and child labor using household-level data from within a poor...
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作者：Abe, K; Zhao, LX
作者单位：Kobe University; University of Osaka
摘要：This paper examines the welfare effects of emission taxes under a choice between an international joint venture (JV) and a full-ownership FDI (Foreign Direct Investment) by parent firms from a developed country (the North) and a developing country (the South), as well as their location and share decisions. If the South has a poor abatement technology, its best policy is to impose a relatively high emission tax to attract a full-ownership FDI. If it has a good abatement technology, the best pol...
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作者：Weinschelbaum, F; Wynne, J
作者单位：Duke University; Universidad de San Andres Argentina
摘要：Collective action clauses (CACs) are provisions specifying that a supermajority of bondholders can change the terms of a bond. We study how CACs determine goventments' fiscal incentives, sovereign bond prices, and default probabilities in environments with and without contingent debt and IMF presence. We claim that CACs are likely to be an irrelevant dimension of debt contracts in current sovereign debt markets because of the variety of instruments utilized by sovereigns and the implicit IMF g...
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作者：Magee, CSP; Davidson, C; Matusz, SJ
作者单位：Michigan State University; Bucknell University; University of Nottingham
摘要：This paper examines the hypothesis that turnover affects trade preferences. High turnover industries are similar to the Stolper-Sarnuelson assumption of perfect factor mobility, so factor of production drives trade preferences. Among low turnover industries, as in the specific factors model, net export position determines trade preferences. We show that PAC contribution patterns are consistent with this hypothesis. In high turnover industries, capital groups give significantly larger shares of...
