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Do inventors talk to strangers? On proximity and collaborative knowledge creation

Crescenzi, Riccardo; Nathan, Max; Rodriguez-Pose, Andres - C.E.P.R. Discussion Papers - 2013

inventors shape their collaboration decisions. Using a new panel of UK inventors and a novel identification strategy, this paper … show that physical proximity is an important influence on collaboration, but is mediated by organisational and ethnic …

Persistent link: https://www.econbiz.de/10011084309

Globalization and the Evolution of the Supply Chain: Who Gains and Who Loses?

Fujita, Masahisa; Thisse, Jacques-François - C.E.P.R. Discussion Papers - 2003

This Paper focuses on two distinct facets of globalization: the decrease in the trade costs of goods and the decline of communication costs between headquarters and production facilities within firms. When the unskilled have about the same wage in the two regions, the decrease of these costs...

Persistent link: https://www.econbiz.de/10005498045

Trade linkages and the globalisation of inflation in Asia and the Pacific

Auer, Raphael; Mehrotra, Aaron - C.E.P.R. Discussion Papers - 2014

Some observers argue that increased real integration has led to greater co-movement of prices internationally. We examine the evidence for cross-border price spillovers among economies participating in the pan-Asian cross-border production networks. Starting with country-level data, we find that...

Persistent link: https://www.econbiz.de/10011083958

Demand learning and firm dynamics: evidence from exporters

Berman, Nicolas; Rebeyrol, Vincent; Vicard, Vincent - C.E.P.R. Discussion Papers - 2015

This paper provides evidence that learning about demand is an important driver of firms' dynamics. We present a simple model with Bayesian learning in which firms are uncertain about their idiosyncratic demand parameter in each of the markets they serve, and update their beliefs as noisy...

Persistent link: https://www.econbiz.de/10011213311

Fiscal Volatility Shocks and Economic Activity

Fernández-Villaverde, Jesús; Guerron-Quintana, Pablo A.; … - C.E.P.R. Discussion Papers - 2011

We study the effects of changes in uncertainty about future fiscal policy on aggregate economic activity. Fiscal … consolidation inevitable, there is considerable uncertainty about the policy mix and timing of such budgetary adjustment. To … evaluate the consequences of this increased uncertainty, we first estimate tax and spending processes for the U.S. that allow …

Persistent link: https://www.econbiz.de/10009246602

Fiscal Union Consensus Design under the Risk of Autarky

Luque, Jaime; Morelli, Massimo; Tavares, José - C.E.P.R. Discussion Papers - 2011

Inspired by the current debate over the future of the monetary union in Europe, this paper provides a simple model for the determination of the conditions of survival of the common good, which requires the creation of an effective fiscal union. We highlight the importance of institutional design...

Persistent link: https://www.econbiz.de/10009283396

Political Uncertainty and Risk Premia

Pástor, Luboš; Veronesi, Pietro - C.E.P.R. Discussion Papers - 2011

We study the pricing of political uncertainty in a general equilibrium model of government policy choice. We find that … political uncertainty commands a risk premium whose magnitude is larger in poorer economic conditions. Political uncertainty …

Persistent link: https://www.econbiz.de/10009320399

The Political Cost of Reforms

Bonfiglioli, Alessandra; Gancia, Gino A - C.E.P.R. Discussion Papers - 2011

, uncertainty makes reforms more politically viable and may, under some conditions, increase social welfare. The model is then used … uncertainty is associated to more reforms in a panel of 20 OECD countries. …

Persistent link: https://www.econbiz.de/10009644031

Sequential Exporting

Albornoz-Crespo, Facundo; Calvo Pardo, Hector F.; … - C.E.P.R. Discussion Papers - 2010

Many new exporters give up exporting very shortly, despite substantial entry costs; others shoot up foreign sales and expand to new destinations. We develop a model based on experimentation to rationalize these and other dynamic patterns of exporting firms. We posit that individual export...

Persistent link: https://www.econbiz.de/10008692316

Real-Time Model Uncertainty in the United States: the Fed from 1996-2003

Ironside, Brian; Tetlow, Robert J. - C.E.P.R. Discussion Papers - 2005

compare these optimal rules against plausible alternatives. Model uncertainty is shown to be a substantial problem; the … rules are robust to model uncertainty may be an overly sanguine conclusion. …

Persistent link: https://www.econbiz.de/10005662266