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The Surprisingly Swift Decline of U.S. Manufacturing Employment

Pierce, Justin R.; Schott, Peter K. - Federal Reserve Board (Board of Governors of the … - 2013

This paper finds a link between the sharp drop in U.S. manufacturing employment beginning in 2001 and a change in U.S. trade policy that eliminated potential tariff increases on Chinese imports. Industries where the threat of tariff hikes declines the most experience more severe employment...

Persistent link: https://www.econbiz.de/10010784166

Offshoring, Mismatch, and Labor Market Outcomes

Arseneau, David M.; Epstein, Brendan - Federal Reserve Board (Board of Governors of the … - 2014

We study the role of labor market mismatch in the adjustment to a trade liberalization that results in the offshoring …-intuitively--this type of job displacement is actually beneficial for the labor market in the country doing the offshoring. Mismatch allows …

Persistent link: https://www.econbiz.de/10010937979

Cash flows and discount rates, industry and country effects, and co-movement in stock returns

Ammer, John; Wongswan, Jon - Federal Reserve Board (Board of Governors of the … - 2004

This paper examines the relative importance of global, country-specific, and industry-specific factors in both the cash flow and discount rate components of equity returns between 1995 and 2003. Our framework draws upon previously separate literatures on country versus industry effects and...

Persistent link: https://www.econbiz.de/10005368137

Is the corporate loan market globally integrated? a pricing puzzle

Carey, Mark; Nini, Greg - Federal Reserve Board (Board of Governors of the … - 2004

We offer evidence that interest rate spreads on syndicated loans to corporate borrowers are economically significantly smaller in Europe than in the U.S., other things equal. Differences in borrower, loan and lender characteristics associated with equilibrium mechanisms suggested in the...

Persistent link: https://www.econbiz.de/10005368403

Some simple tests of the globalization and inflation hypothesis

Ihrig, Jane; Kamin, Steven B.; Lindner, Deborah; … - Federal Reserve Board (Board of Governors of the … - 2007

This paper evaluates the hypothesis that globalization has increased the role of international factors and decreased … globalization and inflation hypothesis. Our results provide little support for that hypothesis. First, the estimated effect of … countries owes to globalization. Finally, and most surprisingly, our econometric results indicate no increase over time in the …

Persistent link: https://www.econbiz.de/10005368445