-
作者：HARRISON, AE
摘要：Research on productivity often examines the relationship between productivity increases and structural changes in an economy, such as trade policy reform. If, however, policy reforms affect the nature of competition, then the productivity changes associated with trade reform may be mismeasured. Using a panel of manufacturing firms in the Cote d'Ivoire, this paper measures changing profit margins and productivity following a 1985 trade reform. The paper also exploits cross-section differences i...
-
作者：WELLISZ, S
-
作者：DUMAS, B; SVENSSON, LEO
作者单位：Stockholm University; Hautes Etudes Commerciales (HEC) Paris
摘要：We examine the expected survival time of a unilateral exchange rate target zone, when constraints on monetary policy prevent the central bank from exclusively focusing on defending the target zone. Generally the width of the target zone has a negligible effect on the expected survival time, and the dominant determinants are reserve levels and the degree of real and monetary divergence between the country in question and the rest of the world. For seemingly realistic parameters, the expected su...
-
作者：HINDLEY, B
-
作者：DIXIT, A; ROB, R
作者单位：University of Pennsylvania; Princeton University
摘要：We consider a dynamic model of labor mobility in a small open economy with stochastic terms of trade. Migration is costly and markets for labor income risk are absent. Risk-aversion slows down the movement of the most productive workers into the risky sector, and speeds up that of the least productive ones. The effect of tariffs and autarky on risk-bearing is examined. A given policy may improve social welfare for some initial conditions and lower it for others. Thus policy design for such an ...
-
作者：FENDER, J; YIP, CK
作者单位：University System of Georgia; Georgia State University
摘要：This paper constructs a two country macroeconomic model where prices are set by imperfectly competitive firms and wages by trade unions. Unemployment benefit is nominally rigid in at least one country. The effects of monetary expansion under both fixed and flexible exchange rates, and exchange rate changes under fixed rates, are considered. The results change significantly if it is assumed that in one country unemployment benefit is fully indexed.
-
作者：KRUEGER, AO
-
作者：KASHYAP, AK
-
作者：THOMPSON, AJ
作者单位：University of Toronto
摘要：The Canada-United States Free Trade Agreement (FTA) provides an excellent opportunity to analyze the impact of a comprehensive trade liberalization- In this paper, a stock market event study is employed to capture investors' expectations about the consequences of this agreement for manufacturing firms in Canada. The primary question addressed is whether abnormal stock market returns corresponding to news about the FTA are consistent with hypotheses based on comparative advantage and economies ...
-
作者：KENEN, PB
