Showing 1 - 10 of 74
We construct a new linked data set with over one thousand offshoring events by matching Trade Adjustment Assistance … domestic firm-level aggregate employment, output, wages and productivity. Consistent with heterogenous firm models where … productivity measures for offshoring firms. These results are consistent across two separate difference-in-differences (DID …
Persistent link: https://www.econbiz.de/10011075150
While information technologies (IT) are credited with the recent acceleration in productivity in the United States …, many other industrial countries have not experienced a pickup in productivity growth. To explain this productivity … and slowed productivity growth in a number of industrial countries. We then develop a theoretical model with vintage …
Persistent link: https://www.econbiz.de/10005372583
Productivity growth in the U.S. economy jumped during the second half of the 1990s, a resurgence that many analysts …, leading to a lively debate about the connection between IT and productivity and about the sustainability of the faster growth … acceleration in labor productivity after 1995 was driven largely by the greater use of IT capital goods and by the more rapid …
Persistent link: https://www.econbiz.de/10005393720
We investigate the effects of U.S. unconventional monetary policies on sovereign yields, foreign exchange rates, and stock prices in emerging market economies (EMEs), and we analyze how these effects depend on country-specifc characteristics. We find that, although EME asset prices, mainly those...
Persistent link: https://www.econbiz.de/10010787059
Strategic interactions between policymakers arise whenever each policymaker has distinct objectives. Deviating from full cooperation can result in large welfare losses. To facilitate the study of strategic interactions, we develop a toolbox that characterizes the welfare-maximizing cooperative...
Persistent link: https://www.econbiz.de/10011075124
Micro- and macro-level evidence indicates that fluctuations in idiosyncratic uncertainty have a large effect on investment; the impact of uncertainty on investment occurs primarily through changes in credit spreads; and innovations in credit spreads have a strong effect on investment,...
Persistent link: https://www.econbiz.de/10010937972
Do firms use credit line drawdowns to finance investment? Using a unique dataset of 467 COMPUSTAT firms with credit lines, we study the purpose of drawdowns during the 2007-2009 financial crisis. Our data show that credit line drawdowns had already increased in 2007, precisely when disruptions...
Persistent link: https://www.econbiz.de/10011273700
environment that captures the effects of interregional and intersectoral trade in propagating disaggregated productivity changes …We study the impact of regional and sectoral productivity changes on the U.S. economy. To that end, we consider an … pairwise interregional trade across all 50 U.S. states, 26 traded and non-traded industries, labor as a mobile factor, and …
Persistent link: https://www.econbiz.de/10011027366
The absence of data has, until now, precluded virtually all research on trading volume in the foreign exchange market. This paper introduces a new high-frequency foreign exchange dataset from EBS (Electronic Broking Service) that includes trading volume in the global interdealer spot market. The...
Persistent link: https://www.econbiz.de/10005368281
Using consumer price indexes from cities in the U.S., Canada and Mexico, we estimate the "border effect" on U.S.-Mexican relative prices and find that it is nearly an order of magnitude larger than for U.S.-Canadian prices. However, during a very stable sub-period in Mexico (May 1988 to November...
Persistent link: https://www.econbiz.de/10005368355