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Trade Liberalization and Shadow Prices in the Presence of Tariffs and Quotas
Neary, J Peter - C.E.P.R. Discussion Papers - 1989
This paper examines the welfare effects of partial trade liberalization when trade is restricted by tariffs, quotas or …
Persistent link: https://www.econbiz.de/10005792088
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Multi-product Firms and Product Turnover in the Developing World: Evidence from India
Goldberg, Pinelopi Koujianou; Khandelwal, Amit; … - C.E.P.R. Discussion Papers - 2008
detailed firm-level data from India, we provide the first evidence on the patterns of multi-product firm production in a large …-section, multi-product firms in India look remarkably similar to their U.S. counterparts, confirming the predictions of recent … churning - particularly product rationalization - is far less common in India. We thus find little evidence of "creative …
Persistent link: https://www.econbiz.de/10005123815
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Trade Adjustment and Human Capital Investments: Evidence from Indian Tariff Reform
Edmonds, Eric V; Pavcnik, Nina; Topalova, Petia - C.E.P.R. Discussion Papers - 2008
the context of India's 1991 tariff reforms. Overall, in the 1990s, rural India experienced a dramatic increase in … imply that roughly half of India's rise in schooling and a third of the fall in child labor during the 1990s can be …
Persistent link: https://www.econbiz.de/10005504597
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The Financial Crisis and the Geography of Wealth Transfers
Gourinchas, Pierre-Olivier; Rey, Hélène; Truempler, … - C.E.P.R. Discussion Papers - 2011
This paper studies the geography of wealth transfers during the 2008 global financial crisis. We construct valuation changes on bilateral external positions in equity, direct investment and portfolio debt at the height of the crisis to map who benefited and who lost on their external exposure....
Persistent link: https://www.econbiz.de/10009293659
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The Changing International Transmission of Financial Shocks: Evidence from a Classical Time-Varying FAVAR
Eickmeier, Sandra; Lemke, Wolfgang; Marcellino, Massimiliano - C.E.P.R. Discussion Papers - 2011
We study the changing international transmission of US financial shocks over the period 1971-2009. Financial shocks are defined as unexpected changes of a financial conditions index (FCI), recently developed by Hatzius et al. (2010), for the US. We use a time-varying factor-augmented VAR to...
Persistent link: https://www.econbiz.de/10009003376
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Global Banking and International Business Cycles
Enders, Zeno; Kollmann, Robert; Müller, Gernot - C.E.P.R. Discussion Papers - 2010
This paper incorporates a global bank into a two-country business cycle model. The bank collects deposits from households and makes loans to entrepreneurs, in both countries. It has to finance a fraction of loans using equity. We investigate how such a bank capital requirement affects the...
Persistent link: https://www.econbiz.de/10008611009
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International Currency Exposures, Valuation Effects and the Global Financial Crisis
Bénétrix, Agustín; Lane, Philip R.; Shambaugh, Jay C - C.E.P.R. Discussion Papers - 2015
We examine the evolution of international currency exposures, with a particular focus on the 2002-12 period. During the run up to the global financial crisis, there was a widespread shift towards positive net foreign currency positions, such that relatively few countries exhibited the archetypal...
Persistent link: https://www.econbiz.de/10011145434
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Understanding Financial Crises: Causes, Consequences, and Policy Responses
Claessens, Stijn; Kose, Ayhan; Laeven, Luc; Valencia, Fabian - C.E.P.R. Discussion Papers - 2013
The global financial crisis of 2007-09 has led to an intensive research program analyzing a wide range of issues related to financial crises. This paper presents a summary of a forthcoming book, Financial Crises: Causes, Consequences, and Policy Responses, that includes 19 contributions...
Persistent link: https://www.econbiz.de/10011083226
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Time Variation in Macro-Financial Linkages
Eickmeier, Sandra; Marcellino, Massimiliano; Prieto, Esteban - C.E.P.R. Discussion Papers - 2013
We analyze the contribution of credit spread, house and stock price shocks to GDP growth in the US based on a Bayesian VAR with time-varying parameters estimated over 1958-2012. Our main findings are: (i) The contribution of financial shocks to GDP growth fluctuates from about 20 percent in...
Persistent link: https://www.econbiz.de/10011083666
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Liquidity, Risk and the Global Transmission of the 2007-08 Financial Crisis and the 2010-11 Sovereign Debt Crisis
Chudik, Alexander; Fratzscher, Marcel - C.E.P.R. Discussion Papers - 2012
The paper analyses the transmission of liquidity shocks and risk shocks to global financial markets. Using a Global VAR methodology, the findings reveal fundamental differences in the transmission strength and pattern between the 2007-08 financial crisis and the 2010-11 sovereign debt crisis....
Persistent link: https://www.econbiz.de/10011083738