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作者：Sampson, Thomas
作者单位：University of London; London School Economics & Political Science
摘要：This paper studies technology transfer when technology is embodied in human capital and learning requires on-the-job communication between managers and workers. Patterns of technology diffusion depend on where high knowledge managers work and how much time they allocate to training workers. Managers appropriate the surplus training creates and in the open economy managers face a cross-country trade-off between labor costs and the value of knowledge transfer. Complementarity between country lev...
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作者：Friedrich, Christian; Schnabel, Isabel; Zettelmeyer, Jeromin
作者单位：Johannes Gutenberg University of Mainz; Centre for Economic Policy Research - UK; Max Planck Society; European Bank of Reconstructon & Development
摘要：Using industry-level data, this paper tries to explain why financial integration raised growth differentials between externally dependent and less dependent industries in European transition countries, but not in other developing or advanced countries in the years preceding the current crisis. We argue that political integration with countries that have stronger political and economic institutions leads to growth-enhancing foreign investments because investors expect an improvement of institut...
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作者：Ghosal, Sayantan; Thampanishvong, Kannika
作者单位：University of Warwick
摘要：Does improving creditor coordination by strengthening CACs lead to efficiency gains in the functioning of sovereign bond markets? We address this question in a model featuring both debtor moral hazard and creditor coordination under incomplete information. Conditional on default, we characterize the interim efficient CAC threshold and show that strengthening CACs away from unanimity results in interim welfare gains. However, once the impact of strengthening CACs on debtor's incentives is taken...
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作者：Mion, Giordano; Zhu, Linke
作者单位：University of London; London School Economics & Political Science; Shanghai University of Finance & Economics
摘要：We use Belgian manufacturing firm-level data over the period 1996-2007 to analyze the impact of imports from different origins on firm employment growth, exit, and skill upgrading. For this purpose, we use both industry-level and firm-level imports by country of origin and further distinguish between firm-level offshoring of final versus intermediate goods. Results indicate that China is different from both other low-wage and OECD countries. Industry-level import competition from China reduces...
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作者：Brueckner, Markus; Gradstein, Mark
作者单位：National University of Singapore; Ben-Gurion University of the Negev
摘要：This paper provides instrumental variables estimates of the response of aggregate private consumption to transitory output shocks in poor countries. To identify exogenous, unanticipated, idiosyncratic and transitory variations in national output we use year-to-year variations in rainfall as an instrumental variable in a panel of 39 sub-Saharan African countries during the period 1980-2009. Our estimates yield a marginal propensity to consume out of transitory output of around 0.2. To explain t...
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作者：Baghdadi, Leila; Martinez-Zarzoso, Inmaculada; Zitouna, Habib
作者单位：Universite de Tunis; Universitat Jaume I; Universite de Carthage
摘要：This paper investigates whether RTAs with environmental provisions affect relative and absolute pollution levels. In order to do so, the determinants of carbon dioxide emissions convergence are estimated for a cross-section of 182 countries over the period 1980 to 2008. A propensity score matching approach is combined with difference-in-differences techniques to effectively isolate the effect of the Regional Trade Agreement (RTA) variable. The usual controls for scale, composition and techniqu...
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作者：Impullitti, Giammario; Irarrazabal, Alfonso A.; Opromolla, Luca David
作者单位：University of Cambridge; Norges Bank; Banco de Portugal; Universidade de Lisboa
摘要：This paper introduces idiosyncratic firm efficiency shocks into a continuous-time general equilibrium model of trade with heterogeneous firms. The presence of sunk export entry costs and efficiency uncertainty gives rise to hysteresis in export market participation. A firm will enter into the export market once it achieves a given size, reflecting its efficiency, but may keep exporting even after its efficiency has fallen below its initial entry level. Some exporters will not be selling as muc...
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作者：Jacob, Punnoose; Peersman, Gert
作者单位：Reserve Bank of New Zealand; Ghent University
摘要：In an estimated two-country DSGE model, we find that shocks to the marginal efficiency of investment account for more than half of the forecast variance of cyclical fluctuations in the US trade balance. Both domestic and foreign marginal efficiency shocks generate a strong effect on the variability of the imbalance, through shifts in international relative absorption. On the other hand, shocks to uncovered interest parity and foreign export prices, which transmit mainly via the terms of trade ...
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作者：Cavallari, Lilia
作者单位：Roma Tre University
摘要：This paper proposes a two-country monetary model with firm entry as a means for alleviating the comovement puzzles in international business cycle models. It shows that business formation can generate fluctuations in output, employment, investment and trade flows close to those in the data while at the same time providing positive international comovements. Simulations show that the presence of imported investment goods is essential for replicating these facts. (C) 2013 Elsevier B.V. All right...
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作者：Olney, William W.
作者单位：Williams College
摘要：A common critique of globalization is that it leads to a race to the bottom. Specifically, it is assumed that multinationals invest in countries with lower regulatory standards and that countries competitively undercut each other's standards in order to attract foreign capital. This paper tests this hypothesis and finds robust empirical support for both predictions. First, a reduction in employment protection rules leads to an increase in foreign direct investment (FDI). Furthermore, changes i...
