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be hard to resist the eventual extension of existing EU mechanisms of income redistribution--a transfer union. We propose … an alternative strategy based on a relaxed stability pact, further strictures against central EU borrowing, labor market …
Persistent link: https://www.econbiz.de/10012471641
This paper studies two episodes where an exporting industry saw its sales plummet after importing countries banned their products to protect their citizens' health. The first case is the poisoned grapes crisis involving Chile and the United States in 1989. The second is the mad cows dispute...
Persistent link: https://www.econbiz.de/10012471848
This paper examines the distribution of the values of patent rights in the United Kingdom, France, and Germany during the post-1950 period. These values are inferred from the behavior of patentees with respect to payment of renewal fees on their patents. A simple economic model of renewal...
Persistent link: https://www.econbiz.de/10012477430
We show that the 2016 Brexit Referendum led American corporations to cut jobs and investment within US borders. Using establishment-level data, we document that these effects were modulated by the degree of reversibility of capital and labor. American job losses were particularly pronounced in...
Persistent link: https://www.econbiz.de/10012479238
We quantify the importance of non-monetary news in central bank communication. Using evidence from four major central banks and a comprehensive classification of events, we decompose news conveyed by central banks into news about monetary policy, economic growth, and separately, shocks to risk...
Persistent link: https://www.econbiz.de/10012480685
In the UK's 2016 referendum on EU membership, young voters were more likely than their elders to vote Remain. Applying …
Persistent link: https://www.econbiz.de/10012480870
trade policy risk across products and asymmetric for UK and EU exporters. We estimate that a persistent doubling of the … probability of Brexit at the average disagreement tariff of 4.5% lowers EU-UK bilateral export values by 15 log points on average …, and more so for EU than UK exporters. Neither believed a trade war was likely …
Persistent link: https://www.econbiz.de/10012480985