Journal of International Economics

最新文章

• The internal of firms AI翻译
  作者：Bartelme, Dominick; Ziv, Oren
  作者单位：Michigan State University
  摘要：We document that plants belonging to small and mid -sized firms are geographically concentrated, while large firms are much more dispersed. These differences are sizable; firms with 2 plants have a dispersion that is 5 log points lower than predicted by industry location patterns, while the corresponding figure is less than 2 log points for firms with 40 plants and less than a half log point for firms with 100 or more plants. These patterns are qualitatively robust across industries, time peri...
• The dark side of the boom: Dutch disease, competition with China, and technological upgrading in Colombian manufacturing AI翻译
  作者：Branstetter, Lee G.; Laverde-Cubillos, N. Ricardo
  作者单位：Carnegie Mellon University; Insper
  摘要：The natural resource boom of the 2000s spurred growth in income and consumption in many commodity-exporting nations. However, this paper brings together a previously unused combination of data sets from Colombia to document evidence of a downside - the currency appreciation associated with this boom led to a significant and persistent decline in R&D spending and in investment in technological upgrading by Colombian manufacturing firms. Our empirical strategy exploits differences in firms' sale...
• Sovereign risk and intangible investment AI翻译
  作者：Deng, Minjie; Liu, Chang
  作者单位：Simon Fraser University; State University of New York (SUNY) System; Stony Brook University
  摘要：This paper measures the output and TFP losses from sovereign risk, considering firm-level intangible investment. Using Italian firm-level data, we show that firms reallocated from intangible assets to tangible assets during the 2011-2012 Italian sovereign debt crisis. This asset reallocation is more pronounced among small firms and high-leverage firms. This reallocation affects aggregate output and TFP. To explain the reallocation pattern and quantify the output and TFP losses, we build a sove...
• Imports and the CO2 emissions of firms AI翻译
  作者：Akerman, Anders; Forslid, Rikard; Prane, Ossian
  作者单位：Universitetet i Stavanger; Stockholm University
  摘要：We explore how importing of intermediate goods affects the carbon intensity of firms in the Swedish manufacturing sector. By exploiting exogenous shocks to foreign export supply of intermediate goods, we estimate that a 10 percent increase in imports causes a 5.6 percent reduction in carbon intensity. Average carbon intensity among the firms in our sample between 2004 and 2016 decreased by around 50 percent, and our results suggest that import growth accounted for about a third of this decline...
• Clustered sovereign defaults AI翻译
  作者：Singh, Anurag
  作者单位：Instituto Tecnologico Autonomo de Mexico
  摘要：Clustered sovereign default is a recurring phenomenon, but there is a lack of quantitative models to study it. This paper introduces a quantitative framework aimed at untangling latent shocks and examining the mechanisms that precipitate clustered defaults. The model incorporates financial frictions into a sovereign default framework and accommodates global shocks that impact both borrowing countries and lenders. By jointly estimating structural parameters governing the output process of multi...
• Financial crises and the global supply network: Evidence from multinational enterprises AI翻译
  作者：Basco, Sergi; Felice, Giulia; Merlevede, Bruno; Mestieri, Marti
  作者单位：University of Barcelona; Polytechnic University of Milan; Ghent University; Pompeu Fabra University; Barcelona School of Economics; Federal Reserve System - USA; Federal Reserve Bank - Chicago; Centre for Economic Policy Research - UK
  摘要：This paper empirically examines the effects of financial crises on the organization of production of multinational enterprises. We construct a panel of European multinational networks from 2003 through 2015. We compute a multinational-specific shock based on the geographical structure of the network and the extent of the financial crisis in the countries belonging to the network. We document that multinationals facing a larger shock to their network experience lower growth in their number of a...
• From carry trades to trade credit: Financial intermediation by non-financial corporations AI翻译
  作者：Hardy, Bryan; Saffie, Felipe
  作者单位：Bank for International Settlements (BIS); University of Virginia; National Bureau of Economic Research
  摘要：We use detailed firm-level data from Mexico to document that non-financial corporations engage in carry trades by borrowing in foreign currency (FX) and lending in domestic currency, largely in the form of trade credit, accumulating currency risk in the process. Firms are more active in carry-trades when FX borrowing is relatively cheaper and build currency risk by accumulating peso assets. We use the 2009 Mexican peso depreciation to show that firms that were more active in carry trades exper...
• Taking stock of trade policy uncertainty: Evidence from China's pre-WTO accession AI翻译
  作者：Alessandria, George; Khan, Shafaat Yar; Khederlarian, Armen
  作者单位：University of Rochester; National Bureau of Economic Research; The World Bank
  摘要：We study the effects on international trade from the annual tariff uncertainty about China's MFN status renewal in the U.S. prior to joining the WTO. We have four main findings. First, in the monthly data, trade increases significantly in anticipation of uncertain future increases in tariffs and falls upon renewal. The peak -to -trough swings in trade are 62 percent of the possible tariff change. Second, the probability of a tariff increase was perceived to be relatively small, with an average...
• International migration and illegal costs: Evidence from Africa-to-Europe smuggling routes AI翻译
  作者：Friebel, Guido; Manchin, Miriam; Mendola, Mariapia; Prarolo, Giovanni
  作者单位：Goethe University Frankfurt; Centre for Economic Policy Research - UK; IZA Institute Labor Economics; Polytechnic University of Milan; University of Milano-Bicocca; University of Bologna
  摘要：The 2011 Arab Spring marked the opening of the Central Mediterranean Route for irregular border crossings between Libya and Italy, which produced heterogeneous reductions of bilateral smuggling distances between country pairs in the Mediterranean region. We exploit this source of spatial and temporal variation in bilateral distance along land and sea routes to estimate the elasticity of irregular migration intentions for African and Near East countries. We estimate an elasticity of migration i...
• The network origins of trade comovement AI翻译
  作者：Dainauskas, Justas
  作者单位：Reed College - Portland
  摘要：I develop a production network model of the world economy that features Transcendental Logarithmic (a.k.a. translog) aggregators of varieties. This gives rise to variable substitution elasticities that consistent with the evidence are inversely related to the importer expenditure shares per exporter at the country-sector level. I quantify the model using data for 1970-2018 from 19 OECD economies and 30 sectors. Compared to the analogous constant elasticity version of the model, I find that the...