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A Labour-Based Theory of International Trade

Minford, Patrick - C.E.P.R. Discussion Papers - 1988

. Second, country net exports in expensive and cheap labor commodity groups are regressed on country wages. Finally, country … net exports are regressed on an index of skilled-labor-intensiveness for high-wage, low-wage and intermediate …

Persistent link: https://www.econbiz.de/10005666823

Investment Liberalization and International Trade

Amiti, Mary; Wakelin, Katharine - C.E.P.R. Discussion Papers - 2002

This Paper estimates the cross-price elasticity of exports with respect to investment costs for bilateral relations … between 36 countries. We show that the effect of reducing foreign direct investment costs on exports depends on country … and trade costs are low, investment liberalization stimulates exports, whereas when countries are similar in terms of …

Persistent link: https://www.econbiz.de/10005666922

Towards a Legal Theory of Finance

Pistor, Katharina - C.E.P.R. Discussion Papers - 2012

This paper develops the building blocks for a legal theory of finance. LTF holds that financial markets are legally … self-destruction of the financial system. This law-finance paradox tends to be resolved by suspending the full force of law … finance is concentrated around ultimate lenders of last resort and why regulating finance’s core has become so elusive. It …

Persistent link: https://www.econbiz.de/10011084310

The Impact of Liquidity Regulation on Bank Intermediation

Bonner, Clemens; Eijffinger, Sylvester C W - C.E.P.R. Discussion Papers - 2012

We analyze the impact of non-compliance with a requirement similar to the Basel III Liquidity Coverage Ratio and its impact on bank intermediation applying Regression Discontinuity Designs. Using a unique dataset on Dutch banks, we show that non-compliance with a liquidity requirement causes...

Persistent link: https://www.econbiz.de/10011084639

The Argentina Paradox: Microexplanations and Macropuzzles

Taylor, Alan M. - C.E.P.R. Discussion Papers - 2014

The economic history of Argentina presents one of the most dramatic examples of divergence in the modern era. What happened and why? This paper reviews the wide range of competing explanations in the literature and argues that, setting aside deeper social and political determinants, the various...

Persistent link: https://www.econbiz.de/10011083510

Wages and Human Capital in the U.S. Financial Industry: 1909-2006

Philippon, Thomas; Reshef, Ariell - C.E.P.R. Discussion Papers - 2009

also shows that wages in finance were excessively high around 1930 and from the mid 1990s until 2006. For the recent period …

Persistent link: https://www.econbiz.de/10005000443

In Search of New Foundations

Zingales, Luigi - C.E.P.R. Discussion Papers - 2000

In this paper I argue that corporate finance theory, empirical research, practical applications, and policy … change the way we do corporate finance, both theoretically and empirically. …

Persistent link: https://www.econbiz.de/10005792089

A Framework for Cross-Country Comparisons of Public Infrastructure Constraints on Firm Growth

Carlin, Wendy; Schaffer, Mark E; Seabright, Paul - C.E.P.R. Discussion Papers - 2010

How should a policy-maker prioritize interventions to improve the public infrastructure with which firms operate and how large are the benefits from doing so likely to be? To address these questions we use survey data on the obstacles arising from poor quality public inputs that managers face in...

Persistent link: https://www.econbiz.de/10008468531

Where Are the Real Bottlenecks? Evidence from 20,000 Firms in 60 Countries About the Shadow Costs of Constraints to Firm Performance

Carlin, Wendy; Schaffer, Mark E; Seabright, Paul - C.E.P.R. Discussion Papers - 2006

We use data from over 20,000 firms in 60 countries to identify constraints on the growth of firms. We interpret managers’ answers to survey questions on the extent to which various aspects of their external environment inhibit the performance of their firm as measuring the shadow cost of...

Persistent link: https://www.econbiz.de/10005124336

A Stable International Monetary System Emerges: Bretton Woods, Reversed

Rose, Andrew K - C.E.P.R. Discussion Papers - 2006

A stable international monetary system has emerged since the early 1990s. A large number of industrial and a growing number of developing countries now have domestic inflation targets administered by independent and transparent central banks. These countries place few restrictions on capital...

Persistent link: https://www.econbiz.de/10005497858

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