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作者：Hajzler, Christopher
作者单位：University of Otago
摘要：Globally, foreign direct investment (FDI) assets are expropriated more in resource extraction industries compared to other sectors. Despite the higher apparent risk of expropriation in resources, countries more likely to expropriate also have a larger share of FDI in the resource sector. An incomplete markets model of FDI is developed to account for this puzzle. The type of government regime is stochastic, with low penalty regimes facing a relatively low, exogenous cost of expropriating FDI, a...
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作者：Alessandria, George; Choi, Horag
作者单位：University of Rochester; Federal Reserve System - USA; Federal Reserve Bank - Philadelphia; Monash University
摘要：We study empirically and theoretically the growth of U.S. manufacturing exports from 1987 to 2007. We use plant-level data on exporters' export intensity to identify the changes in iceberg costs over this period. Given this change in iceberg costs, we find that a GE model with heterogeneous establishments and dynamic exporting decision from a sunk cost of starting to export is consistent with both aggregate U.S. export growth and the changes in the number and size of U.S. exporters. The model ...
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作者：Blonigen, Bruce A.; Piger, Jeremy; Sly, Nicholas
作者单位：University of Oregon; National Bureau of Economic Research
摘要：It has long been recognized that business cycle comovement is greater between countries that trade more intensively with one another. However, nations face shocks to both the cyclical and trend components of their GDP series. Contrary to the result for cyclical fluctuations, we find comovement of shocks to the trend component of real GDP is weaker among countries that trade more intensively with one another. We simulate changes in ten-year output growth correlations corresponding to the estima...
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作者：Marin, Dalia; Verdier, Thierry
作者单位：University of Munich; Paris School of Economics; Institut Polytechnique de Paris; Ecole des Ponts ParisTech
摘要：Corporate organization varies within countries and between countries. We develop a theory which explains the variation in levels of decentralization across firms and links it to the trade environment that firms face. We introduce firms with internal hierarchies in a Melitz and Ottaviano (2008) model of international trade. We show that international trade increases the conflict of interest between CEO/owners and middle managers within firms and these eventually lead to decentralized corporate ...
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作者：Sequeira, Sandra; Djankov, Simeon
作者单位：University of London; London School Economics & Political Science; The World Bank
摘要：This paper investigates how corruption affects firm behavior. Using an original and unusually rich dataset on bribe payments at ports matched to firm-level data, we observe how firms adapt to different types of corruption by adjusting their transport strategies. Our results suggest that firms respond to the price effects of corruption, organizing production in a way that increases or decreases demand for the public service. (C) 2014 Elsevier B.V. All rights reserved.
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作者：Handley, Kyle
作者单位：University of Michigan System; University of Michigan
摘要：I provide novel evidence for the impact of trade policy uncertainty on exporters. In a dynamic, heterogeneous firms model, trade policy uncertainty will delay the entry of exporters into new markets and make them less responsive to applied tariff reductions. Policy instruments that reduce or eliminate uncertainty, such as binding trade policy commitments at the WTO, increase entry. The predictions are tested on disaggregated, product-level Australian imports with model-consistent measures of u...
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作者：Van Biesebroeck, Johannes; Zhang, Lijun
作者单位：KU Leuven; University of Victoria
摘要：We analyze a firm that produces a final good from multiple intermediates, each of which can be sourced domestically or from a low-wage country. Offshoring an intermediate is only profitable when it has matured sufficiently and the savings in production cost outweigh the underinvestment due to incomplete contracts abroad. We derive how equilibrium sourcing decisions of different intermediates depend on one another. In particular, we demonstrate that the maturity threshold to offshore additional...
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作者：Bahar, Dany; Hausmann, Ricardo; Hidalgo, Cesar A.
作者单位：Harvard University; Harvard University; Massachusetts Institute of Technology (MIT)
摘要：The literature on knowledge diffusion shows that knowledge decays strongly with distance. In this paper we document that the probability that a product is added to a country's export basket is, on average, 65% larger if a neighboring country is a successful exporter of that same product. For existing products, growth of exports in a country is 1.5% higher per annum if it has a neighbor with comparative advantage in these products. While these results could be driven by a common third factor th...
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作者：Baldwin, Richard; Robert-Nicoud, Frederic
作者单位：University of Geneva; National Bureau of Economic Research
摘要：We introduce a simple but flexible analytical framework in which both trade in goods and trade in tasks arise. We use this framework to provide versions of the gains-from-trade and the famous four HO theorems (Heckscher-Ohlin, factor-price-equalisation, Stolper-Samuelson, and Rybczynski) that apply to this environment. We extend our framework to accommodate monopolistic competition and two-way offshoring and to integrate theoretical results of the early offshoring literature. (C) 2013 Elsevier...
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作者：Barattieri, Alessandro
作者单位：University of Quebec; University of Quebec Montreal
摘要：The large current account deficit of the U.S. is the result of a large deficit in the goods balance and a modest surplus in the service balance. The opposite is true for Japan, Germany, and China. Moreover, I document the emergence from the mid-nineties of a strong negative relation between specialization in the export of services and the current account balances of a large sample of OECD and developing countries. Starting from these new stylized facts, I propose in this paper a service hypoth...
