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作者：di Giovanni, Julian; Levchenko, Andrei A.
作者单位：International Monetary Fund; University of Michigan System; University of Michigan; National Bureau of Economic Research
摘要：Firm size follows Zipf's Law, a very fat-tailed distribution that implies a few large firms account for a disproportionate share of overall economic activity. This distribution of firm size is crucial for evaluating the welfare impact of economic policies such as barriers to entry or trade liberalization. Using a multi-country model of production and trade calibrated to the observed distribution of firm size, we show that the welfare impact of high entry costs is small. In the sample of the 50...
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作者：Fugazza, Marco; Nicita, Alessandro
摘要：The proliferation of preferential trade agreements has resulted in a complex system of preferences in which market access conditions are often discriminatory. In this paper we investigate how market access conditions have evolved between 2000 and 2009, and how this has affected international trade. Our results show that the proliferation of preferential access has increased bilateral trade not only due to lower tariffs but also because preferential access often resulted in higher preferential ...
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作者：Kalemli-Ozcan, Sebnem; Papaioannou, Elias; Perri, Fabrizio
作者单位：Koc University; Harvard University; Dartmouth College; National Bureau of Economic Research; Centre for Economic Policy Research - UK; University of Minnesota System; University of Minnesota Twin Cities; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
摘要：We study the effect of financial integration (through banks) on the transmission of international business cycles. In a sample of 18/20 developed countries between 1978 and 2009 we find that, in periods without financial crises, increases in bilateral banking linkages are associated with more divergent output cycles. This relation is significantly weaker during financial turmoil periods, suggesting that financial crises induce co-movement among more financially integrated countries. We also sh...
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作者：Ahsan, Reshad N.
作者单位：University of Melbourne
摘要：This paper extends the literature on trade liberalization and firm productivity (TFP) by examining the complementarities between the speed of contract enforcement and the productivity gains from input tariff liberalization. It does so by using firm-level panel data from India along with an objective measure of judicial efficiency at the state level. The results suggest that for a 10 percentage point decline in input tariffs, firms in the state at the 75th percentile of judicial efficiency gain...
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作者：Balke, Nathan S.; Ma, Jun; Wohar, Mark E.
作者单位：Southern Methodist University; Federal Reserve System - USA; Federal Reserve Bank - Dallas; University of Alabama System; University of Alabama Tuscaloosa; University of Nebraska System
摘要：Starting from the asset pricing approach of Engel and West, we examine the degree to which fundamentals can explain exchange rate fluctuations. We show that it is not possible to obtain sharp inferences about the relative contribution of fundamentals using only data on observed monetary fundamentals-money minus output differentials across countries-and exchange rates. We use additional data on interest rate and price differentials along with the implications of the monetary model of exchange r...
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作者：Bruelhart, Marius; Carrere, Celine; Trionfetti, Federico
作者单位：University of Lausanne; Centre for Economic Policy Research - UK; University of Geneva; Aix-Marseille Universite
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作者：Felbermayr, Gabriel; Jung, Benjamin; Larch, Mario
作者单位：Leibniz Association; Ifo Institut; University of Munich; Eberhard Karls University of Tubingen; University of Bayreuth
摘要：This paper characterizes analytically the optimal tariff of a large one-sector economy with monopolistic competition and firm heterogeneity in general equilibrium, thereby extending the small-country results of Demidova and Rodriguez-Clare (JIE, 2009) and the homogeneous firms framework of Gros (JIE, 1987). The optimal tariff internalizes a mark-up distortion, an entry distortion, and a terms-of-trade externality. It is larger when the dispersion of firm-level productivities is higher, and the...
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作者：Mrazova, Monika; Vines, David; Zissimos, Ben
作者单位：University of Surrey; University of Oxford; University of Oxford; Australian National University; University of Exeter
摘要：The GATT/WTO Article XXIV prevents a customs union (CU) from raising its common external tariff. In this paper, we compare CU formation with and without this Article XXIV constraint. We show, in a multi-country oligopoly model, that for a given CU structure, Article XXIV improves world welfare by lowering trade barriers. However, we also show that Article XXIV has a composition effect on CU formation: it affects the endogenous choice of CUs. By encouraging more symmetric CUs, Article XXIV caus...
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作者：Dutt, Pushan; Mihov, Ilian; Van Zandt, Timothy
作者单位：INSEAD Business School; INSEAD Business School
摘要：We use 6-digit bilateral trade data to document the effect of WTO/GATT membership on the extensive and intensive product margins of trade. We construct gravity equations for the two product margins motivated by Chaney (2008). The empirical results show that standard gravity variables provide good explanatory power for bilateral trade on both margins. Importantly, we show that the impact of the WTO is concentrated almost exclusively on the extensive product margin of trade, i.e. trade in goods ...
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作者：Imai, Susumu; Katayama, Hajime; Krishna, Kala
作者单位：University of Technology Sydney; Waseda University; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：This paper proposes a new test of the Protection for Sale (PFS) model by Grossman and Helpman (1994). Unlike existing methods in the literature, our approach does not require any data on political organization. We use quantile and IV quantile regressions in our tests, using the data from Gawande and Bandyopadhyay (2000). Surprisingly, the results do not provide any evidence favoring the PFS model. We also explain why previous work may have found support for it. (C) 2013 Published by Elsevier B...
