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作者：Soderbery, Anson
作者单位：Purdue University System; Purdue University
摘要：Feenstra (1994) developed, and Broda and Weinstein (2006) refined, a structural estimator of import demand and supply elasticities. Working through the first principles of the methodology from Learner (1981), this paper analyzes and improves the technique to provide a unified estimator of import supply and demand elasticities. The proposed LIML routine corrects small sample biases and constrained search inefficiencies. Previously used estimates are shown to overestimate the median elasticity o...
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作者：Timoshenko, Olga A.
作者单位：George Washington University; George Washington University
摘要：New exporters add and drop products with much greater frequency than old exporters. This paper explains this behavior with a model of demand learning in which an exporter's profitability on the demand side is determined by a time-invariant firm-destination appeal index, and transient firm-destination-year preference shocks. New exporters must learn about their appeal indices in the presence of these shocks, and respond to fluctuations in demand by adding and dropping products more frequently t...
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作者：Lacovone, Leonardo; Javorcik, Beata; Keller, Wolfgang; Tybout, James
作者单位：The World Bank; University of Oxford; Centre for Economic Policy Research - UK; University of Colorado System; University of Colorado Boulder; National Bureau of Economic Research; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：This paper examines the effect of Walmart's entry into Mexico on Mexican manufacturers of consumer goods. Guided by firm interviews that suggested substantial heterogeneity across firms in how they responded to Walmart's entry, we develop a dynamic industry model in which firms decide whether to sell their products through Walmex (short for Walmart de Mexico), or use traditional retailers. Walmex provides access to a larger market, but it puts continuous pressure on its suppliers to improve th...
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作者：Cadot, Olivier; Fernandes, Ana M.; Gourdon, Julien; Mattoo, Aaditya
作者单位：University of Lausanne; The World Bank
摘要：This paper evaluates the effects of the FAMEX export promotion program in Tunisia on the performance of beneficiary firms. While most studies assess only the short-term impact of such programs, we consider also the longer-term impact. Our estimates suggest that the average beneficiary initially saw both higher overall export levels and greater diversification across destinations and products. However, three years after the intervention, beneficiaries' export levels and diversification were no ...
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作者：Evers, Michael P.
作者单位：Goethe University Frankfurt
摘要：In this paper, I provide a quantitative analysis of three different forms of fiscal federalism in monetary unions: fully decentralized regional fiscal authorities as the benchmark, fiscal equalization with nominal tax revenue sharing, and a common central fiscal authority. I assess the capability of the different arrangements to stabilize regional consumption, output, and employment over the business cycle. I also study the implications for interregional income, consumption risk sharing and we...
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作者：Artuc, Erhan; McLaren, John
作者单位：The World Bank; University of Virginia
摘要：A number of authors have argued that a worker's occupation of employment is at least as important as the worker's industry of employment in determining whether the worker will be hurt or helped by international trade. We investigate the role of occupational mobility on the effects of trade shocks on wage inequality in a dynamic, structural econometric model of worker adjustment Each worker in our specification can switch either industry, occupation, or both, paying a time-varying cost to do so...
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作者：Jaimovich, Esteban; Merella, Vincenzo
作者单位：University of Surrey; University of Cagliari
摘要：We propose a Ricardian trade model with horizontal and vertical differentiation, where willingness to pay for quality rises with income, and productivity differentials across countries are stronger for high-quality varieties of goods. Our theory predicts that the scope for trade widens and international specialisation intensifies as incomes grow and wealthier consumers raise the quality of their consumption baskets. This implies that comparative advantages strengthen gradually over the path of...
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作者：Callen, Michael; Imbs, Jean; Mauro, Paolo
作者单位：Harvard University; Centre National de la Recherche Scientifique (CNRS); Paris School of Economics
摘要：Suppose that international sharing risk worldwide or with large numbers of countries were costly. How much risk-sharing could be gained in small sets (or pools) of countries? To answer this question, we compute the means and variances of poolwide gross domestic product growth, for all possible pools of any size drawn from a sample of 74 countries, and compare them with the means and variances of consumption growth in each country individually. From the difference, we infer potential diversific...
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作者：Linnemann, Ludger; Schabert, Andreas
作者单位：Dortmund University of Technology; University of Cologne
摘要：Due to the US dollar's dominant role for international trade and finance, risk-free assets denominated in US currency not only offer a pecuniary return, but also provide transaction services, both nationally and internationally. Accordingly, the responses of bilateral US dollar exchange rates to interest rate shocks should differ substantially with respect to the (US or foreign) origin of the shock We demonstrate this empirically and apply a model of liquidity premia on US treasuries originati...
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作者：Antoniades, Alexis
作者单位：Georgetown University
摘要：We present a simple and tractable trade model of heterogeneous firms, endogenous quality choice, and endogenous markups. A key feature of the model is that competition not only lowers the cost cut-off between the firms that produce and those that exit, but it also raises the scope for quality differentiation. With both these channels present, the most productive firms respond to competition by raising quality, prices, and markups, while the least productive either exit or respond in the exact ...
