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作者：Ekholm, Karolina; Moxnes, Andreas; Ulltveit-Moe, Karen Helene
作者单位：Dartmouth College; University of Oslo
摘要：Using a new and extensive micro data set we investigate the impact of a change in international competitive pressure on industrial performance and restructuring. Unlike previous studies we are able to account for the heterogeneity across firms in their exposure to foreign competition. We focus on a situation akin to a natural experiment, and examine the impact of a sharp real appreciation of the Norwegian Krone in the early 2000s on Norwegian manufacturing firms which differ substantially in t...
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作者：Kim, Yun Jung; Zhang, Jing
作者单位：University of Michigan System; University of Michigan; Sogang University
摘要：In the past, foreign borrowing by developing countries was comprised almost entirely of government borrowing. However, private firms and individuals in developing countries now borrow substantially from foreign lenders. It is often asserted that this surge in private sector borrowing generates excessive borrowing and frequent sovereign defaults in developing countries. This paper analyzes the impact of decentralized borrowing using a quantitative model in which private agents decide how much t...
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作者：Limao, Nuno
作者单位：University System of Maryland; University of Maryland College Park
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作者：Roy, Santanu; Saggi, Kamal
作者单位：Vanderbilt University; Southern Methodist University
摘要：In a North-South vertically differentiated duopoly we analyze (i) the effects of parallel import (PI) policies on price competition and (ii) the interdependence of national PI policies. Prices can be higher in the North if both countries permit PIs relative to when only the South does. If governments maximize national welfare and demand asymmetry across countries is sufficiently large, the North forbids PIs to ensure its firm sells in the South and international price discrimination the South'...
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作者：Popov, Alexander; Udell, Gregory F.
作者单位：European Central Bank; Indiana University System; Indiana University Bloomington
摘要：We study the sensitivity of credit supply to bank financial conditions in 16 emerging European countries before and during the financial crisis. We use survey data on 10,701 applicant and non-applicant firms that enable us to disentangle effects driven by positive and negative shocks to the banking system from demand shocks that may vary across lenders. We find strong evidence that firms' access to credit was affected by changes in the financial conditions of their banks. During the crisis fir...
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作者：Bagwell, Kyle; Staiger, Robert W.
作者单位：Stanford University; National Bureau of Economic Research; University of Wisconsin System; University of Wisconsin Madison
摘要：Existing theories of trade agreements suggest that GATT/WTO efforts to reign in export subsidies represent an inefficient victory for exporting governments that comes at the expense of importing governments. Building on the Cournot delocation model first introduced by Venables (1985), we derive new results from this model and use these results to develop a more benign interpretation of efforts to restrain export subsidies in trade agreements. And we suggest that the gradual tightening of restr...
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作者：Rose, Andrew K.; Spiegel, Mark M.
作者单位：Federal Reserve System - USA; Federal Reserve Bank - San Francisco; University of California System; University of California Berkeley
摘要：While the global financial crisis was centered in the United States, it led to a surprising appreciation in the dollar, suggesting global dollar illiquidity. In response, the Federal Reserve partnered with other central banks to inject dollars into the international financial system. Empirical studies of the success of these efforts have yielded mixed results, in part because their timing is likely to be endogenous. In this paper, we examine the cross-sectional impact of these interventions. T...
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作者：Chisik, Richard
作者单位：Toronto Metropolitan University
摘要：Recent work demonstrates the importance of developing high quality output in order to compete in export markets and other recent studies verify the prevalence of fixed and ongoing trade costs while participating in those markets. I consider the joint choice of quality and export promotion costs when trade relationships are subject to temporary disputes. When transparency is low and macroeconomic instability is high, disputes arrive more frequently and, therefore, firms may inefficiently choose...
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作者：Nishioka, Shuichiro
作者单位：West Virginia University
摘要：This paper examines how production techniques differ across countries, factors, and industries and considers its implications for previous empirical evidence on the Vanek prediction. I find that production techniques differ substantially across countries and factors, but differ much less across industries within a country. Davis and Weinstein (2001) argue that modeling cross-industry differences (multiple-cone specialization) improves the fit of the Vanek prediction: however, their test statis...
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作者：Fratzscher, Marcel
作者单位：European Central Bank
摘要：The causes of the 2008 collapse and subsequent surge in global capital flows remain an open and highly controversial issue. Employing a factor model coupled with a dataset of high-frequency portfolio capital flows to 50 economies, the paper finds that common shocks - key crisis events as well as changes to global liquidity and risk - have exerted a large effect on capital flows both in the crisis and in the recovery. However, these effects have been highly heterogeneous across countries, with ...
