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Growth, Foreign Direct Investment and Urban Concentrations: Unbundling Spatial Lags

Poelhekke, Steven; Ploeg, Frederick Van der - CESifo - 2008

Cross-country regressions suggest that urbanization and FDI are important drivers of growth. However, it is not clear … that primacy eventually hurts growth performance. Since it is tough to interpret cross-country growth regressions, we … growth and unbundling spatial lags matters. Robustness is verified by re-estimating our regressions with fixed effects and …

Persistent link: https://www.econbiz.de/10005765950

Current Account Imbalances and Structural Adjustment in the Euro Area: How to Rebalance Competitiveness

Zemanek, Holger; Belke, Ansgar; Schnabl, Gunther - CESifo - 2009

Low international competitiveness of a set of euro area countries, which have become evident by large current account deficits and rising risk premiums on government bonds, is one of the most challenging economic policy issues for Europe. We analyse the role of private restructuring and public...

Persistent link: https://www.econbiz.de/10005051523

Inter-temporal Savings, Current Account Dynamics and Asymmetric Shocks in a Heterogeneous European Monetary Union

Schnabl, Gunther; Zemanek, Holger - CESifo - 2010

In the current debate on the reasons and implications of the Greek and Irish euro crisis, the intra-European current account imbalances have gained rising attention. Whereas Greece and Ireland struggle for austerity in private and public spending, Germany is urged to reduce its current account...

Persistent link: https://www.econbiz.de/10008833919

Natural Disasters and the Effect of Trade on Income: A New Panel IV Approach

Felbermayr, Gabriel J.; Gröschl, Jasmin - CESifo - 2011

Does trade openness cause higher GDP per capita? Since the seminal instrumental variables (IV) estimates of Frankel and Romer [F&R](1999) important doubts have surfaced. Is the correlation spurious and driven by omitted geographical and institutional variables? In this paper, we generalize...

Persistent link: https://www.econbiz.de/10009224870

Growth, Expectations, and Tariffs

Honkapohja, Seppo; Turunen-Red, Arja H.; Woodland, Alan D. - CESifo - 2011

We study a many country endogenous growth model in which decisions about innovation and new investment are influenced … by growth expectations. Adaptive learning dynamics determine country-specific short run transition paths. Countries … dynamic gains both in growth and utility and that such gains persist the longer the larger the structural advantages of the …

Persistent link: https://www.econbiz.de/10009020102

U.S. Multinationals and Preferential Market Access

Blanchard, Emily; Matschke, Xenia - CESifo - 2012

This paper examines the relationship between offshoring activity by U.S. multinational firms and the structure of U.S trade preferences. We combine firm level panel data on U.S. foreign affiliate activity from the U.S. Bureau of Economic Analysis (BEA) with detailed measures of U.S. trade...

Persistent link: https://www.econbiz.de/10010553272

Unionized Oligopoly, Trade Liberalization and Location Choice

Lommerud, Kjell Erik; Meland, Frode; Sørgard, Lars - CESifo - 2002

In a two-country reciprocal dumping model, with one country unionized, we analyze how wage setting and firm location are influenced by trade liberalization. We show that trade liberalization can induce FDI, which is at odds with conventional theoretical wisdom and cannot happen in a...

Persistent link: https://www.econbiz.de/10005765753

Tax Competition in a Simple Model with Heterogeneous Firms: How Larger Markets Reduce Profit Taxes

Haufler, Andreas; Stähler, Frank - CESifo - 2009

An important puzzle in corporate taxation is that effective tax rates have fallen significantly while tax revenue has simultaneously risen in most countries. Moreover, the gross profitability of firms seems to be lower in high-tax countries, even though standard models of international...

Persistent link: https://www.econbiz.de/10008534049

Does Financial Integration Spur EconomicGrowth? New Evidence from the First Era of Financial Globalization

Schularick, Moritz; Steger, Thomas - CESifo - 2006

Does international financial integration boost economic growth? The question has been discussed controversially for a … narrative evidence from economic history that highlights the contribution European capital made to economic growth ofperipheral … was indeed a significant and robust growth effect. Our theoretical explanation stresses property rights protection as a …

Persistent link: https://www.econbiz.de/10005406203

FDI, Trade Integration and the Border Effect: Evidence from the European Union

Román, Valeriano Martínez-San; Bengoa, Marta; … - CESifo - 2014

This paper intends to combine two fields in the economic literature by examining empirically the FDI pattern –horizontal versus vertical– within the European Union and the relevance of trade integration as a potential determinant of investment flows over the period 1995-2009. We capture...

Persistent link: https://www.econbiz.de/10010790167

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