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Exporting and Labor Demand: Micro-level Evidence from Germany

Lichter, Andreas; Peichl, Andreas; Siegloch, Sebastian - CESifo - 2014

It is widely believed that globalization affects the extent of employment and wage responses to economic shocks. To provide evidence for this, we analyze the effect of firms’ exporting behavior on the elasticity of labor demand. Using rich, German administrative linked employer-employee panel...

Persistent link: https://www.econbiz.de/10010877822

Does Innovation Cause Exports? Evidence from Exogenous Innovation Impulses and Obstacles

Lachenmaier, Stefan; Woessmann, Ludger - CESifo - 2004

Trade and growth theories predict a mutual causation of innovation and exports. We test empirically whether innovation … exogenous to firms’ export performance. We find that innovation attributable to this variation leads to an increase of roughly 7 … percentage points in the export share of German manufacturing firms. The evidence is robust to several alternative specifications …

Persistent link: https://www.econbiz.de/10005406266

Human Capital and the Feldstein-Horioka Puzzle

Katsimi, Margarita; Moutos, Thomas - CESifo - 2007

In this paper we reexamine the Feldstein-Horioka finding of limited international capital mobility by using a broader view (i.e., including human capital) of investment and saving. We find that the Feldstein-Horioka result is impervious to this change.

Persistent link: https://www.econbiz.de/10005765936

Trade Costs, Trade Balances and Current Accounts: An Application of Gravity to Multilateral Trade

Fazio, Giorgio; MacDonald, Ronald; Melitz, Jacques - CESifo - 2005

In this paper we test the well-known hypothesis of Obstfeld and Rogoff (2000) that trade costs are the key to … fundamental revision of Obstfeld and Rogoff’s argument. A further novelty of our work is in tying bilateral trade behavior to … desired aggregate trade balances and desired intertemporal trade. …

Persistent link: https://www.econbiz.de/10005765966

Japan's Imbalance of Payments

Müller-Plantenberg, Nikolas - CESifo - 2003

During the past three decades, Japan’s current account experienced five large swings. The yen appreciated considerably in periods when the current account boomed, and it depreciated whenever Japan’s external performance weakened. However, there has always been a certain lag in the adjustment...

Persistent link: https://www.econbiz.de/10005766057

A Stochastic Optimal Control Approach to International Finance and Foreign Debt

Fleming, Wendell; Stein, Jerome L. - CESifo - 1999

The recent financial crises, especially the debt crisis in Asia, have led to questions su ch as: what are their causes, what is an excessive debt and how vulnerable is an economy to external shocks? We develop an economic model of international finance and debt based upon two sources of...

Persistent link: https://www.econbiz.de/10005181596

Exchange-Rate Adjustment and Macroeconomic Interdependence between Stagnant and Fully Employed Countries

Ono, Yoshiyasu - CESifo - 2014

This paper presents a two-country two-commodity dynamic model with free international asset trade in which one country … stagnant country’s current account depreciate the home currency, expand home employment and improve the foreign terms of trade …

Persistent link: https://www.econbiz.de/10010747221

The Impact of Financial (De-)Regulation on Current Account Balances

Moral-Benito, Enrique; Röhn, Oliver - CESifo - 2014

Both global imbalances and financial market (de-)regulation feature prominently among the potential causes of the global financial crisis, but they have been largely discussed separately. In this paper, we take a different angle and investigate the relationship between financial market...

Persistent link: https://www.econbiz.de/10011082830

Trade Tariffs and Self-Enforcing Environmental Agreements

Eichner, Thomas; Pethig, Rüdiger - CESifo - 2013

international trade, self-enforcing - or stable - IEAs may comprise up to 60% of all countries (Eichner and Pethig 2013). But these … coalitions are Stackelberg leaders and set tariffs in addition to their cap-and-trade schemes. Surprisingly, these smaller IEAs …

Persistent link: https://www.econbiz.de/10010877766

Trade, Integration, and Interregional Inequality

Hirte, Georg; Lessmann, Christian - CESifo - 2014

We study the effect of international trade and freeness of trade (openness) on interregional inequality within … on weighted trade shares and trade costs. In addition to the standard trade-to-GDP ratio, we derive and propose an … aggregate freeness-of-trade measure based on phiness of trade. Both measures are instrumented by proxies constructed from …

Persistent link: https://www.econbiz.de/10010877821