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作者：Baler, Scott L.; Bergstrand, Jeffrey H.; Feng, Michael
作者单位：Clemson University; Federal Reserve System - USA; Federal Reserve Bank - Atlanta; University of Notre Dame; University of Notre Dame; Leibniz Association; Ifo Institut
摘要：One of the main policy sources of trade-cost changes is the formation of an economic integration agreement (ElA), which potentially affects an importing country's welfare. This paper: (i) provides the first evidence using gravity equations of both intensive and extensive (goods) margins being affected by ElAs employing a panel data set with a large number of country pairs, product categories, and ElAs from 1962 to 2000; (ii) provides the first evidence of the differential (partial) effects of ...
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作者：Braun, Sebastian; Kvasnicka, Michael
作者单位：Leibniz Association; Institut fur Weltwirtschaft an der Universitat Kiel (IFW); IZA Institute Labor Economics; Leibniz Association; Institut fur Weltwirtschaft an der Universitat Kiel (IFW); Otto von Guericke University
摘要：Does immigration accelerate sectoral change from low- to high-productivity sectors? This paper analyzes the effect of one of the largest population movements in history, the influx of millions of German expellees to West Germany after World War II, on Germany's speed of transition away from low-productivity agriculture. A simple two-sector specific factor model, in which moving costs prevent the marginal product of labor to be equalized across sectors, predicts that expellee inflows boost outp...
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作者：Bardozzetti, Alfredo; Dottori, Davide
作者单位：European Central Bank; Bank of Italy; European Central Bank; Bank of Italy
摘要：We study the effects of the adoption of collective action clauses (CACs) on government bond yields by exploiting secondary market data on sovereign bonds quoted in international markets from March 2007 to April 2011. CACs are assessed security by security. Using a panel data approach, we find a U-shaped effect of CACs on yields according to the credit rating of the issuer. While the impact is negligible for the highest ratings, a significant yield discount emerges for mid-range ratings, which ...
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作者：Bombardini, Matilde; Gallipoli, Giovanni; Pupato, German
作者单位：University of British Columbia; Canadian Institute for Advanced Research (CIFAR); National Bureau of Economic Research; Toronto Metropolitan University
摘要：This paper investigates a theoretical mechanism linking comparative advantage to the distribution of skills in the working population. We develop a tractable multi-country, multi-industry model of trade with unobservable skills in the labour market and show that comparative advantage derives from (i) cross-industry differences in the substitutability of workers' skills and (ii) cross-country differences in the dispersion of skills. We establish the conditions under which higher skill dispersio...
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作者：Kuttner, Kenneth N.
作者单位：Williams College
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作者：Cacciatore, Matteo
作者单位：Universite de Montreal; HEC Montreal
摘要：This paper studies how labor market frictions affect the consequences of trade integration in a two-country dynamic stochastic general equilibrium model with heterogeneous firms and endogenous producer entry. Two main results emerge. First, trade integration is beneficial for welfare by inducing higher productivity, but unemployment can temporarily rise during the transitional adjustment. labor market rigidities reduce gains from trade, even though they can mitigate short-run employment losses...
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作者：Colantone, Italo; Crino, Rosario
作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; Tinbergen Institute
摘要：We study the relationship between new imported inputs and the introduction of new domestic products. To this purpose, we assemble a novel data set covering 25 European countries over 1995-2007 and containing information on domestic production and bilateral trade for the universe of goods. We develop a procedure to identify new imported inputs and new domestic products, while dealing with the complications raised by the yearly changes in the commodity classifications. We augment these data with...
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作者：Kichko, Sergey; Kokovin, Sergey; Zhelobodko, Evgeny
作者单位：HSE University (National Research University Higher School of Economics); Russian Academy of Sciences; Sobolev Institute of Mathematics; Novosibirsk State University
摘要：We develop a two-factor, two-sector trade model of monopolistic competition with variable elasticity of substitution. Firms' profits and sizes may increase or decrease with market integration depending on the degree of asymmetry between countries. The country in which capital is relatively abundant is a net exporter of the manufactured good, although both firm sizes and profits are lower in this country than in the country where capital is relatively scarce. The pricing policy adopted by firms...
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作者：Di Comite, Francesco; Thisse, Jacques-Francois; Vandenbussche, Hylke
作者单位：Universite Catholique Louvain; Universite Catholique Louvain; HSE University (National Research University Higher School of Economics); Centre for Economic Policy Research - UK; European Central Bank; National Bank of Belgium; KU Leuven
摘要：Many trade models of monopolistic competition identify cost efficiency as the main determinant affirm performance in export markets. To date, the analysis of demand factors has received much less attention. We propose a new model where consumer preferences are asymmetric across varieties and heterogeneous across countries. The model generates new predictions and allows for an identification of horizontal differentiation (taste) clearly distinguished from vertical differentiation (quality). Dat...
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作者：Paz, Lourenco S.
作者单位：Syracuse University
摘要：Following trade liberalization, several developing countries experienced a sharp increase in the share of informal manufacturing employment. In this paper. I examine the impacts of trade liberalization on the labor markets of a small open economy, in an environment in which tariffs affect firms' payroll tax compliance decisions. I demonstrate that a reduction in domestic import tariffs reduces the average formal wage and show that the direction of the effect on the share of informal employment...
