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An Anatomy of International Trade: Evidence from French Firms
Eaton, Jonathan; Kortum, Samuel S; Kramarz, Francis - C.E.P.R. Discussion Papers - 2009
more than half of gross profits. We use our results to simulate the effects of a counterfactual decline in bilateral trade …
Persistent link: https://www.econbiz.de/10005124187
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Do Low-Income Countries Have a High-Wage Option?
Rodrik, Dani - C.E.P.R. Discussion Papers - 1994
Poor countries must specialize in standardized, labour-intensive commodities. Middle-income countries may have a richer menu of options available to them if their labour force is reasonably well-educated and skilled. This paper is motivated by the possibility that there may exist multiple...
Persistent link: https://www.econbiz.de/10005067410
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A Tractable Model of Precautionary Reserves, Net Foreign Assets, or Sovereign Wealth Funds
Carroll, Christopher D; Jeanne, Olivier - C.E.P.R. Discussion Papers - 2009
We model the motives for residents of a country to hold foreign assets, including the precautionary motive that has been omitted from much previous literature as intractable. Our model captures many of the principal insights from the existing specialized literature on the precautionary motive,...
Persistent link: https://www.econbiz.de/10008528533
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Green Policies in a Small Open Economy
Bovenberg, A Lans; van der Ploeg, Frederick - C.E.P.R. Discussion Papers - 1993
In this paper we develop techniques for measuring the trade policy equivalent of domestic distortions, using a distance … function approach. Our measure, the Trade Restrictiveness Index, is shown to equal the uniform tariff which is welfare … that our Index has considerable potential in empirical work and as an aid to trade negotiators. …
Persistent link: https://www.econbiz.de/10005123781
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Trade, FDI and Congestion - the Small and very Open Economy
Dascher, Kristof - C.E.P.R. Discussion Papers - 2000
Typically, a small and open economy trades goods at given world prices. Here, we present a model of a very open small economy, where capital and labour are internationally mobile, too. When investing into infrastructure, the economy’s government attracts not only mobile capital but mobile...
Persistent link: https://www.econbiz.de/10005497938
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Steepest Ascent Tariff Reforms
Raimondos-Møller, Pascalis; Woodland, Alan D - C.E.P.R. Discussion Papers - 2006
This paper introduces the concept of a steepest ascent tariff reform for a small open economy. By construction, it is locally optimal in that it yields the highest gain in utility of any feasible tariff reform vector of the same length. Accordingly, it provides a convenient benchmark for the...
Persistent link: https://www.econbiz.de/10005662058
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Monetary Policy and Exchange Rate Volatility in a Small Open Economy
Galí, Jordi; Monacelli, Tommaso - C.E.P.R. Discussion Papers - 2002
We lay out a small open economy version of the Calvo sticky price model, and show how the equilibrium dynamics can be reduced to a tractable canonical system in domestic inflation and the output gap. We employ this framework to analyse the macroeconomic implications of three alternative monetary...
Persistent link: https://www.econbiz.de/10005662120
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On the International Dimension of Fiscal Policy
Benigno, Gianluca; De Paoli, Bianca - C.E.P.R. Discussion Papers - 2009
equilibrium, the presence of a terms of trade externality lead to movements in the tax rate. Also in contrast with the closed …
Persistent link: https://www.econbiz.de/10005666758
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Risk Matters: The Real Effects of Volatility Shocks
Fernández-Villaverde, Jesús; Guerron-Quintana, Pablo A.; … - C.E.P.R. Discussion Papers - 2009
This paper shows how changes in the volatility of the real interest rate at which small open emerging economies borrow have a quantitatively important effect on real variables like output, consumption, investment, and hours worked. To motivate our investigation, we document the strong evidence...
Persistent link: https://www.econbiz.de/10005666783
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External Currency Pricing and the East Asian Crisis
Cook, David; Devereux, Michael B - C.E.P.R. Discussion Papers - 2004
greatly to the decline in regional trade flows. We construct a multicountry macroeconomic model with these two features, and …
Persistent link: https://www.econbiz.de/10005666904