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作者：Gelos, R. Gaston; Sahay, Ratna; Sandleris, Guido
作者单位：Universidad Torcuato Di Tella; International Monetary Fund
摘要：What determines the ability of governments from developing countries to access international credit markets? We examine this question using detailed data on sovereign bond issuances and public syndicated bank loans between 1980 and 2000. A key finding of this paper is that the probability of market access is not influenced by a country's frequency of defaults, and that a default, if resolved quickly, does not reduce significantly the probability of tapping the markets. We also find that trade ...
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作者：Blonigen, Bruce A.
作者单位：University of Oregon; National Bureau of Economic Research
摘要：Past literature has found evidence that labor market attributes affect individuals' trade policy preferences in a manner consistent with theories of international trade. This paper shows that, with the exception of education, the relationships between labor market attributes and trade policy preferences are not robust in US survey data. This suggests that either our proxies of labor market attributes are poor or our theories for what drives trade policy preferences need to be revisited. (C) 20...
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作者：Durdu, C. Bora
作者单位：Federal Reserve System - USA
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作者：Ahn, JaeBin; Khandelwal, Amit K.; Wei, Shang-Jin
作者单位：Columbia University; Columbia University; National Bureau of Economic Research
摘要：This paper documents that intermediaries play an important role in facilitating international trade. We modify a heterogeneous firm model to allow for an intermediary sector. The model predicts that firms will endogenously select their mode of export - either directly or indirectly through an intermediary - based on productivity. The model also predicts that intermediaries will be relatively more important in markets that are more difficult to penetrate. We provide empirical confirmation for t...
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作者：Caballero, Ricardo J.; Yared, Pierre
作者单位：Columbia University; Massachusetts Institute of Technology (MIT)
摘要：The conventional wisdom is that politicians rent seeking motives increase public debt and deficits This is because myopic politicians face political risk and prefer to extract political rents as early as possible In this paper we study the determination of government debt and deficits in a dynamic political economy model We show that this conventional wisdom relies on economic volatility being low relative to political uncertainty If economic volatility is high relative to political uncertaint...
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作者：Chen, Maggie Xiaoyang; Joshi, Sumit
作者单位：George Washington University; George Washington University
摘要：The recent proliferation of free trade agreements (FTAs) has resulted in an increasingly complex network of preferential trading relationships The economics literature has generally examined the formation of FTAs as a function of the participating countries economic characteristics alone In this paper we show both theoretically and empirically that the decision to enter into an ETA is also crucially dependent on the participating countries existing FTA relationships with third countries Accoun...
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作者：Hellerstein, Rebecca; Villas-Boas, Sofia B.
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; University of California System; University of California Berkeley
摘要：A large share of international trade occurs through intra-firm transactions. We show that this common cross-border organization of the firm has implications for the well-documented incomplete transmission of shocks across such borders. We present new evidence of an inverse relationship between a firm's outsourcing of inputs and its rate of exchange-rate pass-through. We then develop a structural econometric model with final assemblers and upstream parts suppliers to quantify how firms' organiz...
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作者：Disdier, Anne-Celia; Head, Keith; Mayer, Thierry
作者单位：University of British Columbia; AgroParisTech; Universite Paris Saclay; INRAE; Institut d'Etudes Politiques Paris (Sciences Po); Centre for Economic Policy Research - UK
摘要：Free trade in audio-visual services has faced opposition on the grounds that foreign media undermine domestic culture, and ultimately, global diversity Using a long panel of French birth registries, we assess the media-culture link using name frequencies as a measure of tastes Controlling for the number of people who currently have a name and unobserved name effects, our regressions show that media influences choices via selective imitation Parents are much more likely to adopt media names tha...
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作者：Levich, Richard M.
作者单位：New York University
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作者：Hummels, David L.; Schaur, Georg
作者单位：National Bureau of Economic Research; Purdue University System; Purdue University; University of Tennessee System; University of Tennessee Knoxville
摘要：Purchasing goods from distant locations introduces a significant lag between when a product is shipped and when it arrives. These transit lags are trade barriers for firms facing volatile demand, who must place orders before knowing the resolution of demand uncertainty. We provide a model in which airplanes bring producers and consumers together in time. Fast transport allows firms to respond quickly to favorable demand realizations and to limit the risk of unprofitably large quantities during...
