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Gains from Offshoring? Evidence from U.S. Microdata

Monarch, Ryan; Park, Jooyoun; Sivadasan, Jagadeesh - Federal Reserve Board (Board of Governors of the … - 2014

We construct a new linked data set with over one thousand offshoring events by matching Trade Adjustment Assistance program petition data to confidential data on U.S. firm operations. We exploit these data to assess how offshoring affects domestic firm-level aggregate employment, output, wages...

Persistent link: https://www.econbiz.de/10011075150

Trade Reforms, Foreign Competition, and Labor Market Adjustments in the U.S.

Kondo, Illenin O. - Federal Reserve Board (Board of Governors of the … - 2013

Using data on trade-induced displacements, this paper documents that locations facing more foreign competition in the U.S. have: higher job destruction rates, lower job creation rates, and thereby lower employment rates. In contrast to standard trade theory, a model with variable markups and...

Persistent link: https://www.econbiz.de/10010728890

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 …

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

The Energy Boom and Manufacturing in the United States

Melick, William R. - Federal Reserve Board (Board of Governors of the … - 2014

price of natural gas. I estimate the response of various measures of manufacturing activity using panel regression methods … entire manufacturing sector, with much larger effects of 30 percent or more for the most energy intensive industries. …

Persistent link: https://www.econbiz.de/10010787057

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 of high-tech production. Our model features two-sided heterogeneity in the labor market: high- and low-skilled workers are matched in a frictional labor market with high- and...

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

Reflections on globalization and policies: a speech at the European Economics and Financial Centre Seminar, House of Commons, London, England, July 6, 2006

Kohn, Donald L. - Federal Reserve Board (Board of Governors of the … - 2006

Persistent link: https://www.econbiz.de/10010725116

Globalization: evidence and policy implications : a speech to the Association for Financial Professionals Global Corporate Treasurers Forum, San Francisco, California (via videocon...

Roger W. Ferguson, Jr. - Federal Reserve Board (Board of Governors of the … - 2005

Persistent link: https://www.econbiz.de/10010725233