-
作者：Sembenelli, Alessandro; Siotis, Georges
作者单位：Universidad Carlos III de Madrid; University of Turin; Collegio Carlo Alberto
摘要：A review of the literature indicates that Foreign Direct Investment has the potential to increase the intensity of competition and to act as a channel for technology transfers. Using a Spanish firm level data set, we disentangle these effects by estimating a dynamic model of firm level performance, which we proxy by mark-ups. We find that FDI has a positive long-run effect on the mark-ups of targets, but this is limited to firms in R&D intensive sectors. In addition, we find weak evidence that...
-
作者：Aw, Bee Yan; Lee, Yi
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：This paper examines the extent to which production location decisions of Taiwanese multinationals reflect underlying patterns of firm productivity. In our theoretical model, heterogeneous firms in a middle-income country decide on the optimal production locations for serving three geographically separate markets: domestic, foreign high-income and foreign low-income. The model shows that the equilibrium decision of a firm depends on the fixed investment costs of establishing foreign subsidiarie...
-
作者：Friberg, Richard; Wilander, Fredrik
作者单位：Stockholm School of Economics
摘要：We report survey results on the currency choice of a random sample of Swedish exporters. We find that for an overwhelming share of exports, the price, invoice and settlement currency is the same. The currency of the customer is the most used, with Swedish kronor and vehicle currencies accounting for approximately equal shares. Currency choice is similar for intra-firm and between-firm trade. We also find that negotiations are important for both the price and for the currency choice. A minority...
-
作者：Cassing, James; To, Ted
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; United States Department of Labor
摘要：In the United States, there is evidence that domestic non-filing firms do not always support dumping/countervailing duty investigations. Absent other factors, domestic firms have an unambiguous incentive to support petitions filed by other domestic producers. We argue that in cases where the non-complainant firm is not a significant importer or exporter, the most plausible explanation is that non-support acts as a costly signal of private information. Extending the model to allow firms to enga...
-
作者：Clerides, Sofronis; Hadjiyiannis, Costas
作者单位：University of Cyprus
摘要：We construct a theoretical framework to study the impact of quality standards for used durable goods on trade flows, profits and consumer welfare. We show that asymmetric quality standards generate trade in used goods from high- to low-standard countries while at the same time reducing trade in new goods. Producers in the exporting country benefit from this change while consumers lose. In the importing country consumers are better off but domestic industry is hurt. These findings suggest that ...
-
作者：Haaland, Jan I.; Kind, Hans Jarle
作者单位：Norwegian School of Economics (NHH)
摘要：We set up a simple trade model with two countries hosting one firm each. The firms invest in cost-reducing R&D, and each government may grant R&D subsidies to the domestic firm. We show that it is optimal for a government to provide higher R&D subsidies the lower the level of trade costs, even if the firms are independent monopolies. If firms produce imperfect substitutes, policy competition may become so fierce that only one of the firms survives. International policy harmonization eliminates...
-
作者：Munch, Jakob Roland; Skaksen, Jan Rose
作者单位：University of Copenhagen; Copenhagen Business School
摘要：This paper studies the link between the education level of workers, export performance and wages. We argue that firms may escape intense competition in international markets by using high skilled workers to differentiate their products. This story is consistent with our empirical results. Using a very rich matched worker-firm longitudinal dataset, we find that there is a weak negative direct effect of exporting on wages, but an interaction term between export intensity and skill intensity has ...
-
作者：Egger, Hartmut; Egger, Peter; Greenaway, David
作者单位：University of Nottingham; University of Zurich; Leibniz Association; Ifo Institut; University of Munich; University of Nottingham
摘要：This paper formulates an empirical model to estimate the impact of endogenous new regional trade agreement (RTA) membership on trade structure. The likelihood of new RTA membership is influenced by economic fundamentals such as country size, factor endowments, and trade and investment costs. In a sample of country-pairs covering mainly the OECD economies we find a particularly strong effect of endogenous RTAs on intra-industry trade in a difference-in-difference analysis based on matching tech...
-
作者：Boileau, Martin; Normandin, Michel
作者单位：University of Colorado System; University of Colorado Boulder; University of Colorado System; University of Colorado Boulder; Universite de Montreal; HEC Montreal; Universite de Montreal; HEC Montreal
摘要：In contrast to earlier work, we study the relation between the current account and the interest rate differential. To do so, we document the relation for international data. We then interpret this relation from a two-country, dynamic, general equilibrium model, where a financial intermediary faces operating costs that are increasing and convex in the volume of internationally intermediated funds. We finally confront the relation predicted by the model to the relation observed in the data. We f...
-
作者：Desai, Mihir A.; Hines, James R., Jr.
作者单位：National Bureau of Economic Research; University of Michigan System; University of Michigan; Harvard University
摘要：This paper analyzes the economic impact of export subsidies by investigating stock price reactions to a critical event in 1997. On November 18, 1997, the European Union announced its intention to file a complaint before the World Trade Organization (WTO), arguing that the United States provided American exporters illegal subsidies by permitting them to use Foreign Sales Corporations to exempt a fraction of export profits from taxation. Share prices of American exporters fell sharply on this ne...
