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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
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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
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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
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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
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
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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
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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
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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
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Unemployment and Inflation in Ireland: 1926-2012
Gerlach, Stefan; Lydon, Reamonn; Stuart, Rebecca - C.E.P.R. Discussion Papers - 2015
We study the determination of Irish inflation between 1926 and 2012. The difference between unemployment and the NAIRU …
Persistent link: https://www.econbiz.de/10011272719
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Firm Leverage and Unemployment during the Great Recession
Giroud, Xavier; Mueller, Holger M - C.E.P.R. Discussion Papers - 2015
We argue that firms’ balance sheets were instrumental in the propagation of shocks during the Great Recession. Using establishment-level data, we show that firms that tightened their debt capacity in the run-up (“high-leverage firms”) exhibit a significantly larger decline in employment in...
Persistent link: https://www.econbiz.de/10011252614
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What Explains the German Labor Market Miracle in the Great Recession?
Burda, Michael C; Hunt, Jennifer - C.E.P.R. Discussion Papers - 2011
Germany experienced an even deeper fall in GDP in the Great Recession than the United States, with little employment loss. Employers’ reticence to hire in the preceding expansion, associated in part with a lack of confidence it would last, contributed to an employment shortfall equivalent to...
Persistent link: https://www.econbiz.de/10009246610