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作者：Rabitsch, Katrin; Stepanchuk, Serhiy; Tsyrennikov, Viktor
作者单位：Vienna University of Economics & Business; Swiss Federal Institutes of Technology Domain; Ecole Polytechnique Federale de Lausanne; International Monetary Fund
摘要：We compare the performance of the perturbation-based (local) portfolio solution method of Devereux & Sutherland (2010a, 2011) with a global solution method. As a test suite we use model specifications that broadly capture features of international financial trade, between advanced economies, and between advanced and emerging economies. We consider both symmetric country setups and asymmetric setups, that capture important empirical facts such as differences in macroeconomic volatility, differe...
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作者：Forbes, Kristin; Fratzscher, Marcel; Straub, Roland
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Leibniz Association; DIW Berlin - Deutsches Institut fur Wirtschaftsforschung; Humboldt University of Berlin; Centre for Economic Policy Research - UK; European Central Bank
摘要：Are capital controls and macroprudential measures related to international exposures successful in achieving their objectives? Assessing their effectiveness is complicated by selection bias; countries which change their capital-flow management measures (CFMs) often share specific characteristics and are responding to changes in variables that the CFMs are intended to influence. This paper addresses these challenges by using a propensity-score matching methodology. We also create a new database...
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作者：Martincus, Christian Volpe; Carballo, Jeronimo; Graziano, Alejandro
作者单位：Inter-American Development Bank; University System of Maryland; University of Maryland College Park
摘要：All international trade transactions are processed by custom agencies and such processing takes time. Despite the fact that time is a key trade barrier, the time it takes for shipments to clear customs and how customs' processing times affect firms' exports remain largely unknown. In this paper, we precisely estimate the effects of custom-related delays on firms' exports. In so doing, we use a unique dataset that consists of the universe of Uruguay's export transactions over the period 2002-20...
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作者：Bas, Maria; Strauss-Kahn, Vanessa
作者单位：Institut d'Etudes Politiques Paris (Sciences Po); Institut d'Etudes Politiques Paris (Sciences Po); heSam Universite; ESCP Business School
摘要：This paper explores the impact of input trade liberalization on imported input and exported product prices. Using Chinese transaction data for 2000-2006, we capture causal effects between exogenous input tariff reductions and within firm changes in HS6-traded product prices. For identification, we make use of a natural control group of firms that are exempted from paying tariffs. Both imported input and export prices rise. The effect on export prices is specific to firms sourcing inputs from d...
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作者：Muuls, Mirabelle
作者单位：Imperial College London; University of London; London School Economics & Political Science; European Central Bank; National Bank of Belgium
摘要：This paper analyzes the interaction between credit constraints and trading behavior, decomposing trade in extensive and intensive margins. I construct a unique dataset containing firm-level trade transaction data, balance sheets and credit scores from an independent credit insurance company for Belgian manufacturing firms between 1999 and 2007. Firms are more likely to be exporting or importing if they enjoy lower credit constraints. Also, firms that have better credit rating export and import...
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作者：Bogmans, Christian
作者单位：University of Birmingham
摘要：This paper analyzes the impact of vertical linkages on the international effects of environmental policy. With vertical linkages, stricter environmental policy at home indirectly reduces pollution in the rest of the world. This spillback effect can reinforce the free-rider problem that arises under strategic interaction. When pollution is transboundaly a race to the bottom ensues, despite the fact that vertical linkages make it easier for national regulators to export the costs of environmenta...
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作者：Fracasso, Andrea; Vittucci Marzetti, Giuseppe
作者单位：University of Trento; University of Milano-Bicocca
摘要：Departing from the usual tenets of proportionality between cross-border trade flows and knowledge spillovers, we investigate whether relatively intense trade relationships are associated with particularly large international R&D spillovers. A nonlinear specification nesting the hypothesis of global and trade-unrelated R&D spillovers is estimated on a sample of 24 advanced countries over 1971-2004. We find evidence that trade patterns positively affect the international transmission of knowledg...
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作者：Lafortune, Jeanne; Tessada, Jose; Gonzalez-Velosa, Carolina
作者单位：Pontificia Universidad Catolica de Chile; Pontificia Universidad Catolica de Chile; IZA Institute Labor Economics; Pontificia Universidad Catolica de Chile; Inter-American Development Bank
摘要：We study the impact of immigration-induced changes in labor supply within agriculture in the US during early 20th century, a sector where shifting output mix may be easier than in previously studied industries (manufacturing), on output and production choices. We find evidence of output mix adjustments at the county-level in response to immigration as predicted by trade models. Moreover, that response is only visible in diversified counties. Counties with higher initial specialization, likely ...
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作者：Egger, Peter H.; Nigai, Sergey
作者单位：Swiss Federal Institutes of Technology Domain; ETH Zurich; Leibniz Association; Ifo Institut
摘要：The measurement of trade costs and their effects on outcome is at the heart of a large quantitative literature in international economics. The majority of the recent significant contributions on the matter assumes that trade is log-linear in exporter-specific factors, importer-specific factors, and log trade costs that are additively composed of a parameterized part and a residual part. We demonstrate that, under standard assumptions in the literature, the magnitude of unobservable, residual t...
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作者：Chu, Angus C.; Cozzi, Guido; Lai, Ching-Chong; Liao, Chih-Hsing
作者单位：University of Liverpool; University of St Gallen; Academia Sinica - Taiwan; Chinese Culture University; National Chengchi University; National Sun Yat Sen University
摘要：This study explores the long-run effects of inflation in a two-country Schumpeterian growth model with cash-in-advance constraints on consumption and R&D investment. We find that increasing domestic inflation reduces domestic R&D investment and the growth rate of domestic technology. Given that economic growth in a country depends on both domestic and foreign technologies, increasing foreign inflation also affects the domestic economy. When each government conducts its monetary policy unilater...
