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Evaluating the law of one price using micro panel data

Gobillon, Laurent; Guillotreau, Patrice; Wolff, … - C.E.P.R. Discussion Papers - 2013

This paper investigates spatial variations in product prices using an exhaustive micro dataset on fish transactions. The data record all transactions between vessels and wholesalers that occur on local fish markets in France during the year 2007. Spatial disparities in fish prices are sizable,...

Persistent link: https://www.econbiz.de/10011083488

Financial constraints and innovation: Why poor countries don't catch up

Gorodnichenko, Yuriy; Schnitzer, Monika - C.E.P.R. Discussion Papers - 2010

level of income and export intensity. Specifically, the paper investigates theoretically and empirically how financial … constraints affect a firm's innovation and export activities. Theoretical predictions are tested using unique firm survey data … constraints strongly adversely affect the ability of domestically owned firms to innovate and to export and hence to catch up to …

Persistent link: https://www.econbiz.de/10008468676

Cross-Country Causes and Consequences of the 2008 Crisis: International Linkages and American Exposure

Rose, Andrew K; Spiegel, Mark - C.E.P.R. Discussion Papers - 2009

This paper models the causes of the 2008 financial crisis together with its manifestations, using a Multiple Indicator Multiple Cause (MIMIC) model. Our analysis is conducted on a cross-section of 85 countries; we focus on international linkages that may have allowed the crisis to spread across...

Persistent link: https://www.econbiz.de/10008528523

Why do within firm-product export prices differ across markets?

Görg, Holger; Halpern, László; Muraközy, Balázs - C.E.P.R. Discussion Papers - 2010

In this paper we analyse the relationship between gravity variables and f.o.b. export unit values using Hungarian firm …-product-destination data. By taking firm-product level selection into account we show that export unit values increase with distance even for … relationship between unit values and market size. We propose two possible explanations: first, firms may export different quality …

Persistent link: https://www.econbiz.de/10008530371

An Anatomy of International Trade: Evidence from French Firms

Eaton, Jonathan; Kortum, Samuel S; Kramarz, Francis - C.E.P.R. Discussion Papers - 2009

adopt a model of firm heterogeneity and export participation which we estimate to match moments of the French data using the …

Persistent link: https://www.econbiz.de/10005124187

Exports and Information Spillovers

Olarreaga, Marcelo - C.E.P.R. Discussion Papers - 2000

information spillovers across markets on the export patterns of four developing countries (Egypt, Korea, Malaysia and Tunisia). A …

Persistent link: https://www.econbiz.de/10005497848

The Margins of Multinational Production and the Role of Intra-firm trade

Irarrazabal, Alfonso; Moxnes, Andreas; Opromolla, Luca David - C.E.P.R. Discussion Papers - 2009

In this paper we ask why the gravity model of international trade also work well for foreign direct investment (FDI) flows or multinational production (MP). We propose a model of trade and horizontal FDI, where the subsidiary is allowed to source inputs from the headquarters. Under certain...

Persistent link: https://www.econbiz.de/10005114237

How Trade Credits Foster International Trade

Eck, Katharina; Engemann, Martina; Schnitzer, Monika - C.E.P.R. Discussion Papers - 2012

Internationally active firms rely intensively on trade credits even though they are considered particularly expensive. This phenomenon has been little explored so far. Our theoretical analysis shows that trade credits can alleviate financial constraints arising from asymmetric information...

Persistent link: https://www.econbiz.de/10011083260

Crash Risk in Currency Markets

Farhi, Emmanuel; Fraiberger, Samuel P.; Gabaix, Xavier; … - C.E.P.R. Discussion Papers - 2009

How much of carry trade excess returns can be explained by the presence of disaster risk? To answer this question, we propose a simple structural model that includes both Gaussian and disaster risk premia and can be estimated even in samples that do not contain disasters. The model points to a...

Persistent link: https://www.econbiz.de/10005016245

Dollar Illiquidity and Central Bank Swap Arrangements During the Global Financial Crisis

Rose, Andrew K; Spiegel, Mark - C.E.P.R. Discussion Papers - 2011

While the global financial crisis was centered in the United States, it led to a surprising appreciation in the dollar, suggesting global dollar illiquidity. In response, the Federal Reserve partnered with other central banks to inject dollars into the international financial system. Empirical...

Persistent link: https://www.econbiz.de/10009293988