-
作者：Casella, A; Rauch, JE
作者单位：Columbia University; University of California System; University of California San Diego
摘要：History provides many examples of cohesive groups dispersed over several countries who exploit the ties between their members to gain entry into foreign markets. The phenomenon is well-established empirically and noteworthy because it suggests the importance of informational barriers in international transactions, We present a simple model where output is produced through a joint venture, and agents have complete information domestically but are unable to judge the quality of their match abroa...
-
作者：Favero, CA; Giavazzi, F
作者单位：Bocconi University
摘要：This paper tests for the presence of non-linearities in the propagation of devaluation expectations among the countries that were members of the Exchange Rate Mechanism of the EMS. We show that whenever it is possible to estimate a model for financial interdependence, a full-information technique to detect such non-linearities is more efficient than the limited-information estimator proposed, in a similar context, by Rigobon (2000). This happens, in particular, when the periods of market turbu...
-
作者：Lundborg, P; Segerstrom, PS
作者单位：University of Gothenburg; Stockholm School of Economics
摘要：We analyze the effects of immigration quotas on growth and welfare in a North-South version of the quality ladders growth model. Quotas in the North increase the growth rate. However, they lower the static utility level and the discounted welfare of Northern workers. Also the discounted welfare of asset owners drops. Hence, unlike in the static migration model where the representative agent in the host country benefits from immigration, in our dynamic model, the representative agent loses desp...
-
作者：Dutt, P; Mitra, D
作者单位：State University System of Florida; Florida International University; University of Alberta
摘要：The median-voter approach to trade policy determination (within a Heckscher-Ohlin framework) as in Mayer [Am. Econ. Rev. 74(5) (1984) 9701 predicts that an increase in inequality, holding constant the economy's overall relative endowments, raises trade barriers in capital-abundant economies and lowers them in capital-scarce economies. We find support for this prediction using cross-country data on inequality, capital-abundance and diverse measures of protection. We perform certain robustness c...
-
作者：Hanson, GH; Slaughter, MJ
作者单位：University of California System; University of California San Diego; National Bureau of Economic Research; University of California System; University of California San Diego; Dartmouth College; Dartmouth College; National Bureau of Economic Research
摘要：In this paper we analyze whether regional economic integration across US states conditions local labor-market adjustment. We examine the mechanisms through which states absorb changes in labor supplies and whether industry production techniques are similar across states. There are two main findings. Firstly, states absorb changes in employment primarily through changes in production techniques that are common across states and through changes in the output of traded goods, with the former mech...
-
作者：Zhou, DS; Spencer, BJ; Vertinsky, I
作者单位：University of British Columbia; City University of Hong Kong; University of British Columbia
摘要：This paper examines strategic trade and joint welfare maximizing incentives towards investment in the quality of exports by an LDC and a developed country. Firms first compete in qualities and then export to an imperfectly competitive, third country market. Under Bertrand competition, unilateral policy involves an investment subsidy by the low-quality LDC and an investment tax by the developed country, whereas jointly optimal policy calls for the reverse so as to reduce price competition by in...
-
作者：Botman, DPJ; Jager, H
作者单位：University of Amsterdam; Tinbergen Institute
摘要：We extend the models of Krugman [Journal of Money, Credit and Banking, 11 (1979) 311] and Flood and Garber [Journal of International Economics, 17 (1984) 1] on balance of payments crises to a multi-country setting such that coordination among speculators is important for a focal point to emerge, The moment of successful coordination when the currency is devalued is shown to depend on initial beliefs, the degree of imperfect communication, the rate of domestic credit creation, and the number of...
-
作者：Davis, D
作者单位：Columbia University
-
作者：Galindo, AJ; Maloney, WF
作者单位：The World Bank; Inter-American Development Bank
摘要：The paper tests two popular asset-based models of speculative attacks and in particular, their emphasis on the second moments of monetary aggregates. Analyzing monthly panels of appropriate countries in three regions, it finds evidence for the importance of money/reserve ratios predicted by both models, as well as the variance of the ratio of M2 to reserves. (C) 2002 Elsevier Science B.V. All rights reserved.
-
作者：Head, K; Ries, J
作者单位：University of British Columbia
摘要：We investigate the influence of offshore production by Japanese multinationals on domestic skill intensity. Identifying relationships based on within variation in a panel of 1070 firms, we find that additional foreign affiliate employment in low-income countries raises skill intensity. The positive effect of FDI on domestic skill intensity, however, diminishes as investment shifts towards high-income countries. Increases in affiliate employment in low-income countries also raise a firm's relia...
