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作者：Bastos, Paulo; Kreickemeier, Udo
作者单位：University of Nottingham
摘要：We develop a two-country, multi-sector model of oligopoly in which unionised and non-unionised sectors interact in general equilibrium. The model is used to study the impact of trade liberalisation, deunionisation and firm entry on wages in unionised and non-unionised sectors, and on welfare. We find that a shift from autarky to free trade increases non-union wages and welfare, whereas the effect oil union wages is ambiguous. We also show that partial deunionisation leads to higher wages in bo...
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作者：Bjornland, Hilde C.
作者单位：BI Norwegian Business School; Norges Bank
摘要：Dornbusch's exchange rate overshooting hypothesis is a central building block in international macroeconomics. Yet, empirical studies of monetary policy have typically found exchange rate effects that are inconsistent with overshooting. This puzzling result has been viewed by some researchers as a stylized fact to be reckoned with in policy modelling. However, many of these studies, in particular those using vector autoregressive (VARs) approaches, have disregarded the strong contemporaneous i...
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作者：Choi, Yo Chul; Hummels, David; Xiang, Chong
作者单位：Purdue University System; Purdue University; Bank of Korea
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作者：Neiman, Brent; Swagel, Phillip
作者单位：University of Chicago
摘要：American and foreign businesses, politicians, and media have all pointed to post-9/11 changes in visa policies as being responsible for the sharp decline in travel to the United States following the attacks. Using an empirical model which distinguishes the impact of visa policy from economic and country-specific factors, we find that changes in visa policy were not important contributors to the decrease in travel to the United States. Rather, the reduction in entries was largest among traveler...
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作者：Boulhol, Herve
作者单位：heSam Universite; Universite Pantheon-Sorbonne
摘要：Over the past decades, product market deregulation has typically preceded labor market reforms in OECD countries. Ibis paper incorporates labor market rigidities in a model of footloose capital in order to study how globalization might affect the trade-offs generated by labor market regulation and put pressure on labor market institutions. In this two-sector model, globalization ultimately reduces labor market rigidities through either one of two channels: capital mobility triggers a re-alloca...
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作者：Opp, Marcus M.; Sonnenschein, Hugo F.; Tombazos, Christis G.
作者单位：University of Chicago; University of California System; University of California Berkeley; Monash University
摘要：We demonstrate that Rybczynski's classic comparative statics can be reversed in a Heckscher-Ohlin world when preferences in each country favor the exported commodity. This taste bias has empirical support. An increase in the endowment of a factor of production can lead to an absolute curtailment in the production of the commodity using that factor intensively, and an absolute expansion of the commodity using relatively little of the same factor. This outcome - which we call Reverse Rybczynski ...
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作者：Enders, Zeno; Mueller, Gernot J.
作者单位：University of Bonn
摘要：Using vector autoregressions on U.S. time series and an aggregate of industrialized countries, we find that technology shocks appreciate the terms of trade and lower the trade balance; they induce an 'S'-shaped cross-correlation function for both variables (the S-curve). In calibrating a prototypical international business cycle model under complete and incomplete financial markets, we find two distinct sets of parameter values. While both model specifications deliver the S-curve, the underlyi...
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作者：Mejean, Isabelle; Schwellnus, Cyrille
作者单位：Institut Polytechnique de Paris; Ecole Polytechnique; Organisation for Economic Co-operation & Development (OECD); Organisation for Economic Co-operation & Development (OECD)
摘要：In this paper we use data on French export prices at the disaggregated firm and product level to evaluate the effect of economic integration on price convergence. We use the European integration 'experiment' and firm-level data on export prices to distinguish between two possible margins of adjustment: At the intensive margin economic integration induces different pricing strategies within the firm, whereas at the extensive margin it affects the composition of firms with different pricing stra...
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作者：Chernyshoff, Natalia; Jacks, David S.; Taylor, Alan M.
作者单位：University of California System; University of California Davis; University of California System; University of California Irvine; Simon Fraser University; National Bureau of Economic Research
摘要：Did the gold standard diminish macroeconomic volatility? Supporters thought so, critics thought not, and theory offers ambiguous messages, Hard regimes like the gold standard limit monetary shocks by tying policymakers' hands: but exchange-rate inflexibility compromises shock absorption in a world of real disturbances and nominal stickiness. A model shows how lack of flexibility affects the transmission of terms-of-trade shocks. Evidence from the late nineteenth and early twentieth century exp...
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作者：Sener, Fuat; Zhao, Laixun
作者单位：Kobe University; Union College
摘要：This paper constructs a dynamic scale-free North-South model of trade with endogenous innovation. In the North a local-sourcing-targeted race and an outsourcing-targeted R&D race take place simultaneously within each industry. The former results in the winner firm manufacturing in the North, while the latter culminates in the winner firm's immediate outsourcing to the South, generating the iPod cycle. We study three aspects of globalization: reductions in the resource-requirement in outsourcin...
