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作者：Kalemli-Ozcan, S; Sorensen, BE; Yosha, O
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Kansas City; University of Houston System; University of Houston; Tel Aviv University
摘要：We show empirically that regions with a more specialized production structure exhibit output fluctuations that are less correlated with those of other regions (less 'symmetric' fluctuations). Combined with the causal relation running from capital market integration to regional specialization found in an earlier study, this finding supports the idea that higher capital market integration leads to less symmetric fluctuations. This mechanism counterbalances the effect of lower trade-barriers on t...
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作者：Slaughter, MJ
作者单位：Dartmouth College; National Bureau of Economic Research
摘要：In this paper I try to determine whether international trade has been increasing the own-price elasticity of demand for U.S. labor in recent decades. The empirical work yields three main results. First, from 1961 through 1991 demand for U.S. production labor became more elastic in manufacturing overall and in five of eight industries within manufacturing. Second, during this time U.S. nonproduction-labor demand did not become more elastic in manufacturing overall or in any of the eight industr...
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作者：Bacchetta, P; Rose, AK; van Wincoop, E
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作者：Clark, TE; van Wincoop, E
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; Federal Reserve System - USA; Federal Reserve Bank - Kansas City
摘要：We document that business cycles of U.S. Census regions are substantially more synchronized than those of European countries. Data from regions within European countries confirm a European border effect - within-country correlations are substantially larger than cross-country correlations. These results continue to hold after controlling for exogenous factors such as distance and size. We consider the role of four factors that have received attention in the debate about EMU: sectoral specializ...
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作者：Barrett, CB; Yang, YN
作者单位：Cornell University; Chung Yuan Christian University
摘要：International product standardization enables traditional, price-based competition. But the existence of redesign costs or network effects creates market frictions that diminish the incentive to standardize if there already exists a different technology in an established market. This leads to multi-attribute competition between products and will generally reduce trade flows. Not only do incumbent firms using a different technology have an incentive to deviate from an international standard, bu...
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作者：Fosfuri, A; Motta, M; Ronde, T
作者单位：Universidad Carlos III de Madrid; European University Institute; Pompeu Fabra University; University of Mannheim
摘要：We analyze a model where a multinational firm can use a superior technology in a foreign subsidiary only after training a local worker. Technological spillovers from foreign direct investment arise when this worker is later hired by a local firm. Pecuniary spillovers arise when the foreign affiliate pays the trained worker a higher wage to prevent her from moving to a local competitor. We study conditions under which these spillovers occur. We also show that the multinational firm might find i...
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作者：Baier, SL; Bergstrand, JH
作者单位：University of Notre Dame
摘要：In the 25th anniversary issue of the Brookings Papers on Economic Activity, Paul Krugman [Krugman, P, 1995. Growing world trade: Causes and consequences. Brookings Papers on Economic Activity (1), 327-377] stated that the answer to the fundamental question Why has world trade grown? remains surprisingly disputed. He noted that journalistic discussion tends to view the growth of world trade as due to technology-led declines in transportation costs, while economists argue that policy-led multila...
