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No guarantees, no trade: how banks affect export patterns
Niepmann, Friederike - Federal Reserve Bank of New York - 2013
This study provides evidence that shocks to the supply of trade finance have a causal effect on U.S. exports. The … a U.S. bank’s share of the trade finance market in a country is, the larger should be the effect on exports to that … effects on export growth. A shock of one standard deviation to a country’s supply of trade finance decreases exports, on …
Persistent link: https://www.econbiz.de/10010739556
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An expanded, cointegrated model of U.S. trade
Hickok, Susan A.; Hung, Juann H.; Wulfekuhler, Kurt C. - Federal Reserve Bank of New York - 1991
Persistent link: https://www.econbiz.de/10005387358
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Micro, macro, and strategic forces in international trade invoicing
Goldberg, Linda S.; Tille, Cédric - Federal Reserve Bank of New York - 2009
We extend a standard New Keynesian model both to incorporate heterogeneity in spending opportunities along with two sources of (potentially time-varying) credit spreads and to allow a role for the central bank's balance sheet in determining equilibrium. We use the model to investigate the...
Persistent link: https://www.econbiz.de/10008636146
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The nature and growth of vertical specialization in world trade
Hummels, David; Ishii, Jun; Yi, Kei-Mu - Federal Reserve Bank of New York - 1999
market countries we estimate that vertical specialization accounts for up to 30 percent of world exports, and has grown as …
Persistent link: https://www.econbiz.de/10005526268
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Importers, exporters, and exchange rate disconnect
Amiti, Mary; Itskhoki, Oleg; Konings, Jozef - Federal Reserve Bank of New York - 2012
-through. Second, we test and quantify the theoretical mechanisms using Belgian firm-product-level data with information on exports by … destination and imports by source country. We confirm that import intensity and market share are the prime determinants of pass …
Persistent link: https://www.econbiz.de/10010599270
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Factors behind the shifting composition of U.S. manufactured goods trade
Hickok, Susan - Federal Reserve Bank of New York - 1990
Persistent link: https://www.econbiz.de/10005387327
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What determines the composition of international bank flows?
Niepmann, Friederike; Kerl, Cornelia - Federal Reserve Bank of New York - 2014
Several recent studies document that the extent to which banks transmit shocks across borders depends on the type of foreign activities these banks engage in. This paper proposes a model to explain the composition of banks’ foreign activities, distinguishing between international interbank...
Persistent link: https://www.econbiz.de/10010884927
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Subsidizing job creation in the Great Recession
Kitao, Sagiri; Sahin, Aysegül; Song, Joseph - Federal Reserve Bank of New York - 2010
the short term, but can cause a higher equilibrium unemployment rate in the long term. Employment subsidies succeed in …
Persistent link: https://www.econbiz.de/10008493878
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Merit aid, student mobility, and the role of college selectivity
Chakrabarti, Rajashri; Roy, Joydeep - Federal Reserve Bank of New York - 2013
policy implications. In particular, Peltzman had observed in his classic 1973 paper that in-kind subsidies can induce …
Persistent link: https://www.econbiz.de/10010699384
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The private premium in public bonds
Kovner, Anna; Wei, Chenyang - Federal Reserve Bank of New York - 2012
This paper is the first to document the presence of a private premium in public bonds. We find that spreads are 31 basis points higher for public bonds of private companies than for bonds of public companies, even after controlling for observable differences, including rating, financial...
Persistent link: https://www.econbiz.de/10010551296