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Managerial Incentives and Compensation in a Global Market
Wu, Yanhui - Centre for Economic Performance, LSE - 2011
This paper embeds a principal-agent firm in an otherwise standard trade model a la Melitz (2003) to investigate the impact of globalization on the provision of managerial incentives and on the distribution of managerial compensation. Facing contractual frictions due to limited liability, firms...
Persistent link: https://www.econbiz.de/10009220234
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Intermediaries in International Trade: Direct Versus Indirect Modes of Export
Bernard, Andrew B.; Grazzi, Marco; Tomasi, Chiara - Centre for Economic Performance, LSE - 2012
volumes. Export intermediaries such as wholesalers serve different markets and export different products than manufacturing … environment and product- specific factors play important roles in explaining the existence of export intermediaries. These … export intermediaries to overcome country and product fixed costs means that they can more easily respond along the extensive …
Persistent link: https://www.econbiz.de/10010535359
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A Model of Trade with Ricardian Comparative Advantage and Intra-sectoral Firm Heterogeneity
Fan, Haichao; Lai, Edwin L.-C.; Qi, Han Steffan - CESifo - 2011
In this paper, we merge the heterogenous firm trade model of Melitz (2003) with the Ricardian model of Dornbusch, Fisher and Samuelson (DFS 1977) to explain how the pattern of international specialization and trade is determined by the interaction of comparative advantage, economies of scale,...
Persistent link: https://www.econbiz.de/10009364732
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Trading Away Wide Brands for Cheap Brands
Dhingra, Swati - Centre for Economic Performance, LSE - 2011
Firms face competing needs to expand product variety and reduce production costs. Trade policy affects firm investments in product variety and production processes differently. Access to larger markets enables innovation to reduce costs. Although firm scale increases, foreign competition reduces...
Persistent link: https://www.econbiz.de/10009368610
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Explaining the Size Differences of Exporter Productivity Premia: Theory and Evidence
Geishecker, Ingo; Schröder, Philipp J.H.; Sörensen, Allan - CESifo - 2014
Why is it that exporter productivity premia (EPP) differ so widely in size? We take this question to the theory and to the data. We derive the sectoral EPP in a standard heterogeneous firms trade model and apply the insights from the model to 13 years of data for all Danish manufacturing firms....
Persistent link: https://www.econbiz.de/10010741313
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Trade Costs and Job Flows: Evidence from Establishment-Level Data
Groizard, Jose L.; Ranjan, Priya; Rodriguez-Lopez, Antonio - CESifo - 2014
Changes in the costs of trading inputs or final goods affect establishment-level job flows. Using a longitudinal database containing the universe of manufacturing establishments in California from 1992 to 2004, we find that a decline in input or final-good trade costs is associated with job...
Persistent link: https://www.econbiz.de/10010795342
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Why are Firms that Export Cleaner? International Trade and CO2 Emissions
Forslid, Rikard; Okubo, Toshihiro; Ulltveit-Moe, Karen … - CESifo - 2014
This paper develops a model of trade and CO2 emissions with heterogenous firms, where firms make abatement investments and thereby have an impact on their level of emissions. The model shows that investments in abatements are positively related to firm productivity and firm exports. Emission...
Persistent link: https://www.econbiz.de/10010779408
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The Extensive Margin of Exporting Products: A Firm-level Analysis
Arkolakis, Costas; Muendler, Marc-Andreas - CESifo - 2010
export their highest-sales products across multiple destinations. To account for these regularities, we develop a model of …
Persistent link: https://www.econbiz.de/10008833907