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The Margins of Global Sourcing: Theory and Evidence from U.S. Firms
Antràs, Pol; Fort, Teresa C; Tintelnot, Felix - C.E.P.R. Discussion Papers - 2014
This paper studies the extensive and intensive margins of firms' global sourcing decisions. We develop a quantifiable multi-country sourcing model in which heterogeneous firms self-select into importing based on their productivity and country-specific variables. The model delivers a simple...
Persistent link: https://www.econbiz.de/10011145398
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Wages and International Trade
Kramarz, Francis - C.E.P.R. Discussion Papers - 2003
and the import behaviour of their employing firms. First, a model shows that the impact of firms’ imports on workers … the quasi-rent - a firm-level variable - and seniority - a person-level variable directly affected by import competition … pressures. Two effects are at play. In industries where firms actively import finished goods, workers’ wage is decreased. But …
Persistent link: https://www.econbiz.de/10005123663
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Is Monetary Policy in an Open Economy Fundamentally Different?
Monacelli, Tommaso - C.E.P.R. Discussion Papers - 2012
Openness per se requires optimal monetary policy to deviate from the canonical closed-economy principle of domestic price stability, even if domestic prices are the only ones to be sticky. I review this argument using a simple partial equilibrium analysis in an economy that trades in final...
Persistent link: https://www.econbiz.de/10011083335
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Who Profits from Trade Facilitation Initiatives?
Hoekman, Bernard; Shepherd, Ben - C.E.P.R. Discussion Papers - 2013
Extensive research has demonstrated the existence of large potential welfare gains from trade facilitation—measures to reduce the overall costs of the international movement of goods. From an equity perspective an important question is how those benefits are distributed across and within...
Persistent link: https://www.econbiz.de/10011083525
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Mapping prices into productivity in multisector growth models
Ngai, Liwa Rachel; Samaniego, Roberto - C.E.P.R. Discussion Papers - 2009
Two issues related to mapping a multi-sector model into a reduced-form value-added model are often neglected: the composition of intermediate goods, and the distinction between the productivity indices for value added and for gross output. We illustrate their significance for growth accounting...
Persistent link: https://www.econbiz.de/10005025514
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The Exchange Rate and Inflation in the UK
Kara, Amit; Nelson, Edward - C.E.P.R. Discussion Papers - 2003
The United Kingdom is a highly open economy, and has a monetary policy strategy of targeting inflation in consumer prices. In this Paper, we look at the evidence from the UK on inflation behaviour, and examine the propositions from several theoretical models about inflation dynamics in an open...
Persistent link: https://www.econbiz.de/10005662158
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Is the Washington Consensus Dead? Growth, Openness, and the Great Liberalization, 1970s-2000s
Estevadeordal, Antoni; Taylor, Alan M. - C.E.P.R. Discussion Papers - 2008
consistent with theory (about 1 percentage point per annum). Endogeneity problems are considered and other observations are …
Persistent link: https://www.econbiz.de/10005666812
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Lobbying competition over trade policy
Gawande, Kishore; Krishna, Pravin; Olarreaga, Marcelo - C.E.P.R. Discussion Papers - 2009
Competition between opposing lobbies is an important factor in the endogenous determination of trade policy. This paper investigates empirically the consequences of lobbying competition between upstream and downstream producers for trade policy. The theoretical structure underlying the empirical...
Persistent link: https://www.econbiz.de/10004991547
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Bilateral Oligopoly
Björnerstedt, Jonas; Stennek, Johan - C.E.P.R. Discussion Papers - 2001
In many intermediate goods markets buyers and sellers both have market power. Contracts are usually long-term and negotiated bilaterally, codifying many elements in addition to price. We model such bilateral oligopolies as a set of simultaneous Rubinstein-Ståhl bargainings between pairs of...
Persistent link: https://www.econbiz.de/10005789066
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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