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作者：Fasil, Cristiana Benedetti; Borota, Teodora
作者单位：European University Institute; Uppsala University
摘要：This paper analyzes the role of product quality and labor efficiency in shaping the trade patterns and trade intensities within and across two groups of countries, the developed and richer North and the developing South. Recent empirical literature identifies two groups of evidence - the product lines evidence on different export strategies and sources of competitiveness across product groups and countries, and the aggregate trade flows evidence on a positive relation between the income per ca...
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作者：Akinci, Oezge
作者单位：Federal Reserve System - USA
摘要：This paper uses a panel structural vector autoregressive (VAR) model to investigate the extent to which global financial conditions, i.e., a global risk-free interest rate and global financial risk, and country spreads contribute to macroeconomic fluctuations in emerging countries. The main findings are: (1) global financial risk shocks explain about 20% of movements both in the country spread and in the aggregate activity in emerging economies. (2) The contribution of global risk-free interes...
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作者：Hanson, Gordon H.; Xiang, Chong
作者单位：University of California System; University of California San Diego; National Bureau of Economic Research; Purdue University System; Purdue University
摘要：In this paper we build a model of market competition among religious denominations, using a framework that involves incomplete contracts and the production of club goods. We treat denominations akin to multinational enterprises, which decide which countries to enter based on local market conditions and their own productivity. The model guides us in estimating how a denomination's religious doctrine and governance structure affect its ability to attract adherents. Using data on the foreign oper...
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作者：Carriere-Swallow, Yan; Felipe Cespedes, Luis
作者单位：International Monetary Fund; Universidad Adolfo Ibanez
摘要：A recent strand of research proposes that sudden jumps in uncertainty generate rapid drops and recoveries in real macroeconomic variables that drive the business cycle. Using an empirical model, we find substantial heterogeneity in reactions to these shocks across countries. In comparison to the U.S. and other developed countries, emerging economies suffer much more severe falls in investment and private consumption following an exogenous uncertainty shock, take significantly longer to recover...
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作者：Bown, Chad P.; Crowley, Meredith A.
作者单位：The World Bank; Federal Reserve System - USA; Federal Reserve Bank - Chicago
摘要：This paper estimates the impact of macroeconomic fluctuations on import protection policies over 1988:Q1-2010:Q4 for five industrialized economies - the United States, European Union, Australia, Canada and South Korea. We find evidence of a strong countercyclical trade policy response in the pre-Great Recession period of 1988:Q1-2008:Q3 during which increases in domestic unemployment rates, real appreciations in bilateral exchange rates, and declines in the GDP growth rates of bilateral tradin...
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作者：Calderon, Cesar; Kubota, Megumi
作者单位：The World Bank; The World Bank
摘要：Our main goal is to characterize the determinants of sudden stops caused by domestic vis-a-vis foreign residents. Are the decisions of domestic investors to invest abroad or of foreign investors to cut off funds from the domestic economy governed by the same set of determinants? Given the distribution of different types of sudden stop episodes over time and its different macroeconomic consequences, we argue that their determinants may not be alike. One of the novel aspects of this paper is to ...
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作者：Kondo, Hiroki
作者单位：Sophia University
摘要：I construct a model with endogenous growth and new economic geography. Using this framework, I consider the outcomes of R&D subsidy competition among countries under different trade costs. When trade costs are higher, less industrialized countries are more eager to attract industries with vertical linkages. To prevent the industries from relocating, more industrialized countries choose much higher R&D subsidies. As a result, the industries never relocate and the growth rate is very high. When ...
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作者：Prusa, Thomas J.
作者单位：Rutgers University System; Rutgers University New Brunswick
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作者：Kumhof, Michael; Laxton, Douglas
作者单位：International Monetary Fund
摘要：This paper analyzes the scope for rules-based countercyclical fiscal policy in small open economies where a subset of households is liquidity-constrained. Relative to balanced budget rules, structural surplus rules significantly improve welfare. But they minimize fiscal instrument volatility rather than business cycle volatility. More aggressively countercyclical tax revenue gap rules (strong automatic stabilizers) increase welfare gains by around 50%, with only modest increases in fiscal inst...
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作者：McCalman, Phillip; Spearot, Alan
作者单位：University of Melbourne; University of California System; University of California Santa Cruz
摘要：In this paper, we study the role of vertical product differentiation in the decision to allocate production between domestic and foreign plants. To do so, we examine the first wave of light-truck offshoring to Mexico that occurred due to substantially lower post-NAFTA trade barriers and a coincident increase in US demand for light trucks. In contrast to the typical assumption, but similar to many other industries, the need for additional capacity was accommodated by investment in both the US a...
