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Business Cycle Sychronization in the Enlarged EU

Darvas, Zsolt; Szapáry, György - C.E.P.R. Discussion Papers - 2005

This paper analyses the synchronization of business cycles between new and old EU members using various measures. The main findings are that Hungary, Poland and Slovenia have achieved a high degree of synchronization for GDP, industry and exports, but not for consumption and services. The other...

Persistent link: https://www.econbiz.de/10005792241

Are European Business Cycles Close Enough to be Just One?

Camacho, Maximo; Pérez-Quirós, Gabriel; Sáiz Matute, … - C.E.P.R. Discussion Papers - 2005

We propose a comprehensive methodology to characterize the business cycle comovements across European economies and some industrialized countries, always trying to ‘let the data speak’. Out of this framework, we propose a novel method to show that there is no ‘Euro economy’ that acts as...

Persistent link: https://www.econbiz.de/10005124454

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

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

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

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