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作者：Olivier, Jacques; Thoenig, Mathias; Verdier, Thierry
作者单位：Hautes Etudes Commerciales (HEC) Paris; University of Geneva; Paris School of Economics
摘要：This paper presents a simple model where micro-founded dynamics of cultural identity are endogenous and interact with an international trade equilibrium. This process generates a Strong home bias under autarky. We then show that goods market integration causes a phenomenon of cultural divergence, whereby the distributions of cultures become more dissimilar across countries and one of the cultures that existed under autarky ultimately disappears. By way of contrast, we show that social integrat...
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作者：Greenaway, David; Gullstrand, Joakim; Kneller, Richard
作者单位：University of Nottingham; Lund University
摘要：This paper investigates the effects of international trade on trims' strategies for industry exit, either via closedown, switching industry or being acquired. We use a rich dataset of Swedish firms that extends over two decades to track firm choices between alternative strategies. We find that higher levels of international competition increase the probability of exit by merger and closedown. If trade is more intra-industry in character, the effect of import penetration on the probability of e...
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作者：Clerides, Sofronis
作者单位：University of Cyprus
摘要：I investigate the welfare effects of trade liberalization by exploiting a natural policy experiment in the economy of Cyprus. A 1993 law relaxed import restrictions on used vehicles and enabled the importation of second-hand Japanese automobiles into the country. This led to a dramatic shift of consumer purchases from new to used cars and a substantial expansion of the overall market. Welfare gains computed from a structural demand system average $2000 per purchaser per year over a four-year p...
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作者：Hellerstein, Rebecca
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：Nominal exchange rates are remarkably volatile. They ordinarily appear disconnected from the fundamentals of the economies whose currencies they price. These facts make up a classic puzzle about the international economy. If prices do not respond fully to changes in the nominal exchange rate, who bears the cost of such large and unpredictable changes: foreign firms, domestic firms, or domestic consumers? This study presents a new analysis of the sources of incomplete pass-through and then uses...
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作者：Limao, Nuno; Saggi, Kamal
作者单位：National Bureau of Economic Research; Center for Economic & Policy Research (CEPR); University System of Maryland; University of Maryland College Park; Southern Methodist University
摘要：We analyze whether financial compensation is preferable to the WTO's current dispute settlement system that permits injured member countries to impose retaliatory tariffs. We show that, ex-post, monetary fines are more efficient than tariffs in terms of granting compensation to injured parties but fines suffer from an enforcement problem since they must be paid by the violating country. If fines must ultimately be supported by the threat of tariffs, they fail to yield a more cooperative outcom...
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作者：Kose, M. Ayhan; Otrok, Christopher; Whiteman, Charles H.
作者单位：International Monetary Fund; University of Virginia; University of Iowa
摘要：This paper studies the changes in world business cycles during the period 1960-2003. We employ a Bayesian dynamic latent factor model to estimate common and country-specific components in the main macroeconomic aggregates (output, consumption, and investment) of the G-7 countries. We then quantify the relative importance of the common and country components in explaining comovement in each observable aggregate over three distinct time periods: the Bretton Woods (BW) period (1960: 1 1972:2), th...
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作者：di Giovanni, Julian; Shambaugh, Jay C.
作者单位：International Monetary Fund; Dartmouth College
摘要：It is often argued that many economies are affected by conditions in foreign countries. This paper explores the connection between interest rates in major industrial countries and annual real output growth in other countries. The results show that high foreign interest rates have a contractionary effect on annual real GDP growth in the domestic economy, but that this effect is centered on countries with fixed exchange rates. The paper then examines the potential channels through which major-co...
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作者：Ederington, Josh; McCalman, Phillip
作者单位：University of Kentucky; University of California System; University of California Santa Cruz
摘要：In this paper, we build a dynamic model with endogenous firm-level productivity that involves ex ante identical firms behaving differently in equilibrium. Heterogeneity arises in equilibrium as firms choose different dates to adopt a new technology. We investigate the effects of international trade on technological diffusion and show that trade has a generally positive impact on the equilibrium rate of adoption (and hence on firm-level productivity). In addition, the model can replicate the st...
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作者：Ornelas, Emanuel
作者单位：University of London; London School Economics & Political Science
摘要：Recent research shows that the GATT/WTO negotiating rules are capable of delivering a politically efficient equilibrium. Such an equilibrium is, however, economically inefficient. Global free trade, in particular, is unattainable even in a fully cooperative world, if governments have political motivations. In such a context, we show that regional trade agreements can help move the world towards a welfare-superior equilibrium. The reason is that, when members of regional trade agreements lower ...
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作者：Essaji, Azim
作者单位：Wilfrid Laurier University
摘要：it is widely acknowledged that while technical regulations can improve welfare and facilitate markets, they can also impede trade. The trade impeding effects of technical regulations are especially worrisome for developing countries: they frequently lack the human and capital resources necessary to satisfy technical measures, and thus are more likely to be excluded from markets by technical measures. This paper uses highly disaggregated US data on agricultural, mining and manufacturing imports...
