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作者：Singh, Rahul; Chanda, Rupa
作者单位：Ahmedabad University; Indian Institute of Management (IIM System); Indian Institute of Management Bangalore
摘要：We estimate the consequences of maintaining restrictive Technical Barriers to Trade (TBT) measures on markups for manufacturing firms in India. We combine firm-product level data from Prowess with the data on TBTs that have been raised as a concern by member countries against India in the TBT committee of WTO. We find that higher TBT incidence on intermediate inputs to the industry leads to a decrease in markups for importers relative to non-importers. Firms absorb the increase in marginal cos...
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作者：Bai, Xue; Chatterjee, Arpita; Krishna, Kala; Ma, Hong
作者单位：Brock University; University of New South Wales Sydney; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; National Bureau of Economic Research; Tsinghua University
摘要：This paper develops a new model with heterogeneous firms under perfect competition in a Heckscher-Ohlin setting. We derive a novel prediction regarding the effect of minimum wages on selection, namely that a binding minimum wage will raise (or lower) TFP at the firm and industry level depending on whether the capital intensity of entry costs exceeds (falls short of) that of production. Exploiting rich regional variation in minimum wages across Chinese counties and using firm level production d...
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作者：Kohn, David; Leibovici, Fernando; Szkup, Michal
作者单位：Pontificia Universidad Catolica de Chile; Federal Reserve System - USA; Federal Reserve Bank - St. Louis; University of British Columbia
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作者：Ferrara, Laurent; Metelli, Luca; Natoli, Filippo; Siena, Daniele
作者单位：SKEMA Business School; Universite Cote d'Azur; European Central Bank; Bank of Italy; Polytechnic University of Milan; European Central Bank; Bank of France; European Central Bank
摘要：The paper re-investigates the effects of government spending shocks on the real exchange rate and inflation, using US data. In opposition to some previous puzzling results, we find that an increase in government spending appreciates the real exchange rate and generates inflationary pressures. Positive spending shocks also induce a trade balance deficit and an increase in the nominal interest rate. The discrepancy with the existing literature lies in the identification of fiscal shocks: embeddi...
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作者：Flach, Lisandra; Irlacher, Michael; Unger, Florian
作者单位：University of Munich; Leibniz Association; Ifo Institut; Centre for Economic Policy Research - UK; Johannes Kepler University Linz; Leibniz Association; Ifo Institut; University of Gottingen; Johannes Kepler University Linz; University of Gottingen
摘要：This paper analyzes how exporters are affected by corporate tax reforms in destination markets. We introduce tax policy in a trade model of multi-product firms and show that producers face tougher competition in export markets with lower corporate tax rates. This competitive effect induces firms to reduce the number of exported products and to skew their export sales towards the better performing varieties. We estimate the effects of corporate taxes on trade dynamics by exploiting policy refor...
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作者：Ehrmann, Michael
作者单位：European Central Bank; Centre for Economic Policy Research - UK
摘要：Inflation targeting is implemented in different ways - typically by adopting point targets, with or without tolerance bands, or by specifying target ranges. Using data for 20 economies (half of which are advanced and emerging market economies, respectively), this paper tests whether the various target types anchor inflation expectations differently. By studying to what extent inflation expectations are responsive to past inflation and how much forecasters disagree, it tests two contradictory h...
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作者：Al-Karablieh, Yazan; Koumanakos, Evangelos; Stantcheva, Stefanie
作者单位：Harvard University; Hellenic Open University; Center for Economic & Policy Research (CEPR); National Bureau of Economic Research
摘要：We use a new dataset of the universe of Greek corporate tax returns to study a voluntary tax compliance program for small firms. This self-assessment program prescribed target taxable profit margins (the ratio of taxable profits to revenues) for different types of activities. Firms that reported profit margins above these targets in a given year were exempt from audits in that year. We find that the firms that take up the program report significantly larger taxable profits than non-eligible fi...
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作者：Malgouyres, Clement; Mayer, Thierry; Mazet-Sonilhac, Clement
作者单位：Paris School of Economics; IZA Institute Labor Economics; Institut d'Etudes Politiques Paris (Sciences Po); European Central Bank; Bank of France
摘要：In this paper, we document the presence of technology-induced trade in France between 1997 and 2007 and assess its impact on consumer welfare. We use the staggered roll-out of broadband internet to estimate its causal effect on the importing behavior of affected firms. Using an event-study design, we find that broadband expansion increases firm-level imports by around 25%. The effect on domestic sales is positive but smaller, suggesting that the impact on trade is not limited to a scale effect...
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作者：Schumacher, Julian; Trebesch, Christoph; Enderlein, Henrik
作者单位：European Central Bank; Leibniz Association; Institut fur Weltwirtschaft an der Universitat Kiel (IFW); Hertie School
摘要：For centuries, defaulting governments were immune from legal action by foreign creditors. This paper shows that this is no longer the case. Building a dataset covering four decades, we find that creditor lawsuits have become an increasingly common feature of sovereign debt markets. The legal developments have strengthened the hands of creditors and raised the cost of default for debtors. We show that legal disputes in the US and the UK disrupt government access to international capital markets...
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作者：Jeon, Doh-Shin; Jullien, Bruno; Klimenko, Mikhail
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Centre National de la Recherche Scientifique (CNRS); University System of Georgia; Georgia Institute of Technology
摘要：The dominance of English language content on the Internet raises a question of how consumer bilingualism in a given country affects the amount of home language content and the country's welfare. We address this question by studying two-sided market competition between a foreign and a domestic content distribution platform in a small open economy. On the one hand, bilingualism has the benefit of increasing cross-side network externalities by increasing consumer concentration on the foreign plat...
