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作者：Kuralbayeva, Karlygash; Stefanski, Radoslaw
作者单位：University of Oxford; Laval University
摘要：Macro cross-country data and micro US county data indicate that resource-rich regions have small but relatively productive manufacturing sectors and large but relatively unproductive non-manufacturing sectors. We suggest a process of specialization to explain these facts. Windfall revenue induces labor to move from the (traded) manufacturing to the (non-traded) non-manufacturing sector. A self-selection of workers takes place. Only those most skilled in manufacturing sector work remain in manu...
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作者：Chaney, Thomas; Ossa, Ralph
作者单位：University of Chicago; University of Chicago
摘要：We generalize Krugman's (1979) 'new trade' model by allowing for an explicit production chain in which a range of tasks is performed sequentially by a number of specialized teams. We demonstrate that an increase in market size induces a deeper division of labor among these teams which leads to an increase in firm productivity. The paper can be thought of as a formalization of Smith's (1776) famous theorem that the division of labor is limited by the extent of the market. It also sheds light on...
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作者：Swenson, Deborah L.
作者单位：University of California System; University of California Davis
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作者：Smeets, Valerie; Warzynski, Frederic
作者单位：Aarhus University
摘要：In this paper, we analyze the relationship between exports, imports and firm productivity taking into account pricing heterogeneity and multi-product firms. We use a rich firm-product level dataset providing both revenue and quantities of all products produced, exported and imported for a large panel of Danish manufacturing firms over the period 1999-2006. With this detailed information, we compute a firm level price index to deflate our measure of output and compare our productivity measures ...
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作者：Araujo, Aloisio; Leon, Marcia; Santos, Rafael
摘要：We modify the Cole and Kehoe model by including domestic debt. According to the original model, a speculative attack on a high debt level issued abroad triggers external debt default. Here, it is possible to inflate away the domestic debt to avoid the external debt default. We consider two possibilities for domestic debt denomination: (i) local currency and (ii) common currency. In the second case, inflation depends on a monetary union decision. Our numerical results show that to have a debt s...
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作者：Giordani, Paolo E.; Ruta, Michele
作者单位：World Trade Organization
摘要：We propose a theoretical framework for analyzing the problems associated to unilateral immigration policy in receiving countries and for evaluating the grounds for reform of international institutions governing immigration. We build a model with multiple destination countries and show that immigration policy in one country is influenced by measures adopted abroad as migrants choose where to locate (in part) in response to differences in immigration policy. This interdependence gives rise to a ...
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作者：Reinhardt, Dennis; Ricci, Luca Antonio; Tressel, Thierry
作者单位：International Monetary Fund
摘要：Does capital flow from rich to poor countries? We revisit the Lucas paradox to account for the role of capital account openness. We find that, when accounting for such openness, the prediction of the neoclassical theory is empirically confirmed: among financially open economies, less developed countries tend to experience net capital inflows and more developed countries tend to experience net capital outflows. The results hold also when taking into account private flows, institutions, and nume...
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作者：Durdu, C. Bora; Nunes, Ricardo; Sapriza, Horacio
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors
摘要：This paper builds a unified model of sovereign debt, default risk, and news shocks. News shocks improve the quantitative performance of the sovereign default model in a number of empirically-relevant dimensions. First, with news shocks, not all defaults occur during downturns. Second, the news shocks help account for key differences between developing and more developed economies: as the precision of news improves, the model predicts lower variability of consumption, less countercyclical trade...
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作者：Bastos, Paulo; Straume, Odd Rune; Urrego, Jaime A.
作者单位：The World Bank; Universidade do Minho; University of Bergen; Inter-American Development Bank
摘要：We examine whether and how rainfall shocks affect tariff setting in the agricultural sector. In a model of strategic trade policy, we show that the impact of a negative rainfall shock on optimal import tariffs is generally ambiguous, depending on the weight placed by the domestic policy maker on tariff revenue, profits and the consumer surplus. The more weight placed on domestic profits, the more likely it is that the policy maker will respond to a rainfall shortage by reducing import tariffs....
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作者：Ederington, Josh; McCalman, Phillip
作者单位：University of Kentucky; University of Melbourne
摘要：We integrate trade policy into an open-economy model of technology adoption to investigate the impact of alternate trade barriers on the equilibrium diffusion of a cost-saving technology. It is shown that even when ad-valorem tariffs have a neutral impact on technology adoption, non-tariff barriers such as quotas can be used to affect the speed of technology diffusion in both the home and foreign countries. In addition, we demonstrate how, in an open-economy setting, tariffication (i.e., the c...
