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作者：Hakura, DS
作者单位：International Monetary Fund
摘要：This paper examines the role of international differences in production techniques in explaining the empirical failure of the Heckscher-Ohlin-Vanek (HOV) model. It develops a modified HOV model that relaxes the assumption of identical production techniques across countries and can be estimated using input-output data of individual countries. The contribution of international differences in techniques to net factor trade patterns is then isolated by comparing the performance of the strict and m...
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作者：Branstetter, LG
作者单位：University of California System; University of California Davis
摘要：In this paper, I provide new estimates of the relative impact of intranational and international knowledge spillovers on innovation and productivity at the firm level, using previously unexploited panel data from the U.S. and Japan. My estimates suggest that knowledge spillovers are primarily intranational in scope, providing empirical confirmation of an important assumption in much of the theoretical literature. The implications of this finding are discussed in the conclusion. (C) 2001 Elsevi...
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作者：Skaksen, MY; Sorensen, JR
作者单位：University of Southern Denmark; Aarhus University
摘要：It is often argued that FDI hurts workers in the home country because jobs are moved abroad. Contrary to that view, businessmen often argue that FDI benefits home workers because there will be an expansion in the firm. We show that both views may be corrects and whether home workers gain or lose on FDI depends on which kinds of activities the firm moves to the host country. If there is a big degree of substitutability (complementarity) between activities in the home country and activities in t...
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作者：Rodrik, D; van Ypersele, T
作者单位：University of Namur; University of Namur; Universite Catholique Louvain; Harvard University
摘要：Basic economic theory identifies a number of efficiency gains that derive from international capital mobility. But just as with free trade in goods, there is no guarantee that capital mobility makes everyone better off. Consequently, capital mobility may be politically unsustainable even though it enhances efficiency. This paper discusses how such a dilemma might arise, and suggests that international tax coordination might serve as a way out under some circumstances. (C) 2001 Published by Els...
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作者：Peek, J; Rosengren, ES
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Boston
摘要：Since August 1995, Japanese banks have had to pay a premium on Eurodollar and Euroyen interbank loans relative to their U.S. and U.K. competitors. This so-called Japan premium provides a market indicator of investor anxiety about the ability of Japanese banks to repay loans. We examine the determinants of the Japan premium and find that government announcements not associated with concrete actions had little impact. On the other hand, announcements of concrete actions by the Japanese governmen...
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作者：Fatás, A; Mihov, I
作者单位：INSEAD Business School
摘要：This paper documents a strong negative correlation between government size and output volatility both for the OECD countries and across US states. This correlation is robust to the inclusion of a large set of controls as well as to alternative methods of detrending and estimation. In the international sample, a one percentage point increase in government spending relative to GDP reduces output volatility by eight basis points. Whereas in the US states the reduction in volatility is significant...
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作者：Feenstra, RC
作者单位：University of California System; University of California Davis; National Bureau of Economic Research
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作者：Markusen, JR
作者单位：University of Colorado System; University of Colorado Boulder
摘要：The policy debate between multinational firms favoring strong contract law, and host-country governments who often oppose such protection motivates the paper. Local agents (managers) learn the multinational's technology and can defect to start a rival firm. Contract enforcement, including binding the multinational itself, makes the multinational better off. Outcomes for the host country are more complex, depending on mode switches induced by enforcement. If enforcement induces the multinationa...
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作者：Popper, H; Montgomery, JD
作者单位：Santa Clara University
摘要：This paper develops a model of information sharing among heterogeneously informed agents and it uses the model to examine a rationale for intervention in the foreign exchange market. The model shows that in a partially revealing rational expectations equilibrium, some agents can gain by sharing among themselves private information about transitory exchange rate disturbances. In this setting, a central bank can affect the exchange rate by aggregating and disseminating agents' information. The p...
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作者：Zhao, LX
作者单位：Hokkaido University
摘要：This paper offers an explanation for multinationals that are both horizontally and vertically related. Specifically, when labor is unionized, the conventional incentives for merger may disappear in industries of successive (or bilateral) monopoly, due to 'double marginalization', which limits the amount of surplus that can be bargained between labor and the firms. We show that vertical integration raises both union employment and the negotiated wage, but may reduce total industry profits. As s...
