Journal of International Economics

最新文章

• Product quality and the direction of trade AI翻译
  作者：Hallak, JC
  作者单位：University of Michigan System; University of Michigan
  摘要：A substantial amount of theoretical work predicts that quality plays an important role as a determinant of the global patterns of bilateral trade. This paper develops an empirical framework to estimate the empirical relevance of this prediction. In particular, it identifies the effect of quality operating on the demand side through the relationship between per capita income and aggregate demand for quality. The model yields predictions for bilateral flows at the sectoral level and is estimated...
• Country spreads and emerging countries: Who drives whom? AI翻译
  作者：Uribe, M; Yue, VZ
  作者单位：Duke University; National Bureau of Economic Research; New York University
  摘要：This paper attempts to disentangle the intricate relation linking the world interest rate, country spreads, and emerging-market fundamentals. It does so by using a methodology that combines empirical and theoretical elements. The main findings are: (1) US interest rate shocks explain about 20% of movements in aggregate activity in emerging economies. (2) Country spread shocks explain about 12% of business cycles in emerging economies. (3) In response to an increase in US interest rates, countr...
• The mystery of economic growth AI翻译
  作者：Kalemli-Ozcan, S
  作者单位：University of Houston System; University of Houston; National Bureau of Economic Research
• Fair wages, unemployment and technological change in a global economy AI翻译
  作者：Kreickemeier, Udo; Nelson, Douglas
  作者单位：University of Nottingham; Tulane University
  摘要：This paper analyzes the effects of global and national technological change on employment and relative wages in an integrated two-country world (Europe and America), where both countries are characterized by equilibrium unemployment due to fair wage constraints. The asymmetry between the countries arises from country-specific preferences towards wage inequality, with Europe's preferences being more egalitarian. Furthermore, we look at integration between this two-country world and a third coun...
• Competition regimes and air transport costs: The effects of open skies agreements AI翻译
  作者：Micco, Alejandro; Serebrisky, Tomas
  作者单位：Inter-American Development Bank; The World Bank
  摘要：The relevance of transport costs has increased as liberalization continues to reduce artificial barriers to trade. Is it worthwhile to implement policies designed to increase competition in transport markets? Focusing on air transport, this paper quantifies the effects of liberalization of air cargo markets on transport costs. Between 1990 and 2003, the United States implemented a series of Open Skies Agreements, providing a unique opportunity to assess the effect that a change in the competit...
• When in peril, retrench: Testing the portfolio channel of contagion AI翻译
  作者：Broner, Fernando A.; Gelos, R. Gaston; Reinhart, Carmen M.
  作者单位：Pompeu Fabra University; Centre de Recerca en Economia Internacional (CREI); International Monetary Fund; University System of Maryland; University of Maryland College Park; National Bureau of Economic Research
  摘要：The impact of past gains and losses on international investors' risk aversion is an important factor in the propagation of financial shocks across countries. We first present a stylized model illustrating how changes in investors' risk aversion affect portfolio decisions and stock prices. We then examine empirically the behavior of international mutual funds. When funds' returns are below average, they reduce their exposure to countries in which they were overweight and vice versa. An index of...
• External currency pricing and the East Asian crisis AI翻译
  作者：Cook, David; Devereux, Michael B.
  作者单位：Hong Kong University of Science & Technology; University of British Columbia
  摘要：This paper provides a quantitative investigation of the East Asian crisis of 1997-1999. We stress two essential features of the crisis. First, the crisis was a regional phenomenon; the depth and severity of the crisis were exacerbated by a large decline in regional demand. Second, the predominance of the US dollar in the pricing of export goods in Asia (which we document empirically) led to a powerful internal propagation effect of the crisis within the region, contributing greatly to the decl...
• Emerging markets and macroeconomic volatility:: Lessons from a decade of financial debacles, a symposium for the Journal of International Economics AI翻译
  作者：Devereux, Michael B.; Mendoza, Enrique G.
  作者单位：University System of Maryland; University of Maryland College Park
• Global production sharing and trade in the services of factors AI翻译
  作者：Reimer, JJ
  作者单位：Oregon State University
  摘要：This article develops an approach to measuring the factor content of trade when intermediate inputs are traded, and techniques differ for reasons such as factor price differences. An empirical section documents the importance of intermediates and shows that they mitigate cross-country differences in the factor content of finished goods. The performance of recent models of factor service trade is also evaluated. Existing approaches impute the factor content of imported intermediates with domest...
• International mergers: Incentives and welfare AI翻译
  作者：Qiu, LD; Zhou, W
  作者单位：Hong Kong University of Science & Technology
  摘要：Information asymmetry creates incentives for firms from different countries to merge. To demonstrate this point, we develop a model of international oligopolistic competition under demand uncertainty and asymmetric information. We show that when domestic firms but not foreign firms are completely informed of local market demands, information sharing enhances the profitability of a merger between a domestic firm and a foreign firm. We also examine how such a merger affects the non-merging firms...