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作者：Liu, Qing; Lu, Yi
作者单位：University of International Business & Economics; National University of Singapore
摘要：This paper contributes to the literature by identifying the causal effect of firm investment on exporting behavior. The identification hinges on regional variations in the 2004 value-added tax pilot reform in China, which generated positive investment shocks. The instrumental variable estimation results show that firm investment significantly and substantially increases the likelihood of exporting, and this effect is largely due to the positive effect of firm investment on firm productivity. F...
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作者：Hornok, Cecilia; Koren, Miklos
作者单位：Central European University; HUN-REN; HUN-REN Centre for Economic & Regional Studies; Centre for Economic Policy Research - UK
摘要：We build a model of administrative barriers to trade to understand how they affect trade volumes, shipping decisions and welfare. Because administrative costs are incurred with every shipment, exporters have to decide how to break up total trade into individual shipments. Consumers value frequent shipments, because they enable them to consume close to their preferred dates. Hence per-shipment costs create a welfare loss. We derive a gravity equation in our model and show that administrative co...
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作者：Martin, Julien; Mayneris, Florian
作者单位：University of Quebec; University of Quebec Montreal; Universite Catholique Louvain
摘要：We develop a new methodology to identify high-end variety exporters in French firm-level data. We find that they do not export to more countries, but they export to more distant destinations than low-end ones. We also show that in contrast to low-end exporters, distance has almost no effect on high-end variety export(er)s. Because of this lower sensitivity to distance at the micro-level, specializing in the production of high-end varieties has implications for the geography of aggregate export...
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作者：Yu, Changhua
作者单位：University of International Business & Economics
摘要：Does opening up capital markets facilitate risk diversification across borders? Are all countries gradually better off in the process of international financial integration? This paper explores welfare implications for various countries in a center-periphery framework with endogenous portfolio choice. Financial integration is divided into four stages: financial autarky, two-country integration, center-periphery integration and global integration. Two effects from financial integration emerge: ...
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作者：Dolores Guillo, Maria; Perez-Sebastian, Fidel
作者单位：Universitat d'Alacant; Universitat d'Alacant; University of Hull
摘要：We advance a novel mechanism that helps to explain the puzzling evidence on the natural resource curse. The new channel arises in a standard dynamic Heckscher-Ohlin model composed of small-open economies that take international output prices as given. Within this framework, a more capital-intensive primary sector implies that natural-resource abundant economies grow more slowly along the adjustment path. This effect might be only temporary because the natural input also affects long-run income...
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作者：Bosetti, Valentina; Cattaneo, Cristina; Verdolini, Elena
作者单位：Fondazione Mattei; Bocconi University
摘要：This paper analyzes the effect of skilled migration on two measures of innovation, patenting and bibliometric data, in a panel of 20 European countries between 1995 and 2008. The empirical findings show that a larger pool of migrants in the skilled professions is associated with higher levels of knowledge creation. Skilled migrants contribute both to the creation of private knowledge, measured by the number of patent applications through the Patent Cooperation Treaty, and to more public basic ...
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作者：Pappa, Evi; Sajedi, Rana; Vella, Eugenia
作者单位：European University Institute
摘要：Cross-country evidence highlights the importance of tax evasion and corruption in determining the size of fiscal multipliers. We introduce these two features in a New Keynesian model and revisit the effects of fiscal consolidations. VAR evidence for Italy suggests that spending cuts reduce tax evasion, while tax hikes increase it. In the model, spending cuts induce a reallocation of production towards the formal sector, thus reducing tax evasion. Tax hikes increase the incentives to produce in...
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作者：Havranek, Tomas; Horvath, Roman; Irsova, Zuzana; Rusnak, Marek
作者单位：Czech National Bank; Charles University Prague; Leibniz Institut fur Ost und Sudosteuropaforschung
摘要：We collect 2735 estimates of the elasticity of intertemporal substitution in consumption from 169 published studies that cover 104 countries during different time periods. The estimates vary substantially from country to country, even after controlling for 30 aspects of study design. Our results suggest that income and asset market participation are the most effective factors in explaining the heterogeneity: households in rich countries and countries with high stock market participation substi...
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作者：Liu, Dan; Meissner, Christopher M.
作者单位：Shanghai University of Finance & Economics; University of California System; University of California Davis; National Bureau of Economic Research
摘要：Today's globalization, driven by lower barriers to trade, has increased market potential for many nations and led to gains in GDP per capita. We test whether this was true in the first wave of globalization by constructing market potential measures for a sample of 27 countries in 1900 and 1910 based on a general equilibrium model of production and trade. Cross-sectional estimates suggest that market potential was an economically significant determinant of GDP per capita at this time. To assess...
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作者：Zymek, Robert
作者单位：University of Edinburgh
摘要：Most of the expansion of global trade since 1980 has been of the North-South kind between capital-abundant developed and labour-abundant developing countries. Based on this observation, I argue that the recent growth of world trade is best understood from a factor-proportions perspective. Using data on trade barriers and estimates of capital-labour ratios for a group of 45 economies between 1980 and 2008, I find that a calibrated factor-proportions model can generate significant trade growth d...
