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作者：Schmitt, N; Soubeyran, A
作者单位：Simon Fraser University; University of Geneva
摘要：This paper analyzes the allocation of two types of individuals differentiated by talent between two countries where they choose to be workers or entrepreneurs. An equilibrium with international migration exists when countries' talent endowments are sufficiently different. It is consistent with one-way or two-way migration whether individuals are entrepreneurs or workers. Although allowing migration increases domestic welfare in one country and decreases it in the other, it is always supported ...
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作者：Calvo, Guillermo A.; Izquierdo, Alejandro; Loo-Kung, Rudy
作者单位：Inter-American Development Bank; Inter-American Development Bank; National Bureau of Economic Research
摘要：Sudden Stops are associated with increased volatility in relative prices. We introduce a model based on information acquisition to rationalize this increased volatility. An empirical analysis of the conditional variance of the wholesale price to consumer price ratio using panel ARCH techniques confirms the relevance of Sudden Stops and potential balance sheet effects as key determinants of relative price volatility, where balance sheet effects are captured by the interaction of a proxy for pot...
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作者：Edmonds, Eric V.; Pavcnik, Nina
作者单位：Dartmouth College; National Bureau of Economic Research; Dartmouth College; Center for Economic & Policy Research (CEPR)
摘要：We consider the relationship between relative price changes and the allocation of labor between households and the formal wage labor market in the context of Vietnam's liberalization of its rice trade in the 1990s. Many individuals in poor economies work within their own household rather than in formal labor markets. We find that larger rice price increases in a community are associated with declines in hours adults devote to work within the household and increases in time spent in the wage la...
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作者：Mackowiak, Bartosz
作者单位：Humboldt University of Berlin
摘要：In recent policy debates some have argued that expansionary monetary policy in Japan can increase real output in Japan and in Japan's neighbors, while others have warned that it is a beggar-thy-neighbor policy. In this paper we estimate structural vector autoregressions to assess the effects of Japanese monetary policy shocks. We find that the effects of Japanese monetary policy shocks on macroeconomic variation in East Asia have been modest and difficult to reconcile with the beggar-thy-neigh...
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作者：Aguiar, M; Gopinath, G
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Boston; University of Chicago; National Bureau of Economic Research
摘要：World capital markets have experienced large scale sovereign defaults on a number of occasions. In this paper we develop a quantitative model of debt and default in a small open economy. We use this model to match four empirical regularities regarding emerging markets: defaults occur in equilibrium, interest rates are countercyclical, net exports are countercyclical, and interest rates and the current account are positively correlated. We highlight the role of the stochastic trend in emerging ...
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作者：Martinez Peria, Maria Soledad
作者单位：The World Bank
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作者：Kose, MA; Yi, KM
作者单位：International Monetary Fund; Federal Reserve System - USA; Federal Reserve Bank - Philadelphia
摘要：Recent empirical research finds that pairs of countries with stronger trade linkages tend to have more highly correlated business cycles. We assess whether the standard international business cycle framework can replicate this intuitive result. We employ a three-country model with transportation costs. We simulate the effects of increased goods market integration under two asset market structures, complete markets and international financial autarky. Our main finding is that under both asset m...
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作者：Peralta, S; Wauthy, X; van Ypersele, T
作者单位：Aix-Marseille Universite; Aix-Marseille Universite; Aix-Marseille Universite; Universite Catholique Louvain; Universite Catholique Louvain; University Saint-Louis - Bruxelles; Universite Catholique Louvain; Universidade Nova de Lisboa
摘要：We present a fiscal competition model with two policy instruments: the level of corporate taxation and the tightness of control of profit shifting by multinational firms (MNF). We show that a country may optimally decide not to monitor the MNF for two reasons. Firstly, this country becomes an attractive location for MNF activity despite a high corporate tax. Secondly, as the profits of the MNF become mobile, the focus of tax competition is shifted. Taxation then influences both an NMF's locati...
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作者：Molana, Hassan; Montagna, Catia
作者单位：University of Dundee; University of Nottingham
摘要：Using a two-sector-two-country model with aggregate scale economies and unionisation, we show that optimal welfare state policy entails positive levels of unemployment 'benefits under free-trade and capital mobility. In this setting, economic integration does not reduce the revenue raising capacity of governments and thus does not lead to a race-to-the-bottom in social standards. Instead, trade and capital flows interact with welfare state policies in increasing welfare even when each governme...
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作者：Gonzaga, G; Menezes, N; Terra, C
作者单位：Getulio Vargas Foundation; Pontificia Universidade Catolica do Rio de Janeiro; Universidade de Sao Paulo
摘要：Skilled labor earnings differentials decreased during the trade liberalization implemented in Brazil from 1988 to 1995. This paper investigates the role of trade liberalization in explaining these relative earnings movements. We perform several independent empirical exercises that check the traditional trade transmission mechanism,, using disaggregated data oil tariffs, prices, earnings, employment and skill intensity. We find that: i) employment shifted from skilled to unskilled intensive sec...
