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Trade Booms, Trade Busts, and Trade Costs

Jacks, David S. - 2009

frictions from leading trade theories and use it to gauge the importance of bilateral trade costs in determining international …

Persistent link: https://www.econbiz.de/10012463384

Capital Market Integration and Wages

Chari, Anusha - 2009

For three years after the typical emerging economy opens its stock market to inflows of foreign capital, the average annual growth rate of the real wage in the manufacturing sector increases by a factor of three. No such increase occurs in a control group of countries. The temporary increase in...

Persistent link: https://www.econbiz.de/10012463445

World Markets for Mergers and Acquisitions

Erel, Isil - 2009

Despite the fact that one-third of worldwide mergers involve firms from different countries, the vast majority of the academic literature on mergers studies domestic mergers. What little has been written about cross-border mergers has focused on public firms, usually from the United States. Yet,...

Persistent link: https://www.econbiz.de/10012463518

Transmission of the U.S. Subprime Crisis to Emerging Markets : Evidence on the Decoupling-Recoupling Hypothesis

Dooley, Michael P. - 2009

global financial developments proved inadequate in the face of the credit crunch and decline in international trade that …

Persistent link: https://www.econbiz.de/10012463530

The Finnish Great Depression : From Russia with Love

Gorodnichenko, Yuriy - 2009

During the period 1991-93, Finland experienced the deepest economic downturn in an industrialized country since the 1930s. We argue that the culprit behind this Great Depression was the collapse of Finnish trade with the Soviet Union, because it induced a costly restructuring of the...

Persistent link: https://www.econbiz.de/10012463774

The Value of Making Commitments Externally : Evidence from WTO Accessions

Tang, Man-Keung - 2008

This paper studies the value of external commitment to policy reforms in the case of WTO/GATT accessions. The accessions often entail reforms that go beyond narrowly defined trade liberalization, and have to overcome fierce resistance in the acceding countries, as reflected in protracted...

Persistent link: https://www.econbiz.de/10012464067

Can Structural Small Open Economy Models Account for the Influence of Foreign Disturbances?

Justiniano, Alejandro - 2008

This paper demonstrates that an estimated, structural, small open economy model of the Canadian economy cannot account for the substantial influence of foreign-sourced disturbances identified in numerous reduced-form studies. The benchmark model assumes uncorrelated shocks across countries and...

Persistent link: https://www.econbiz.de/10012464100

Capital Flow Bonanzas : An Encompassing View of the Past and Present

Reinhart, Carmen M. - 2008

A considerable literature has examined the causes, consequences, and policy responses to surges in international … earlier studies, global factors, such as commodity prices, international interest rates, and growth in the world's largest …

Persistent link: https://www.econbiz.de/10012464327

Current Account Sustainability and Relative Reliability

Curcuru, Stephanie E. - 2008

being confronted by international macroeconomists. Some very plausible theories suggest that the substantial global … the most accurate component of the entire set of international accounts. Similarly, the best data currently available … up questions about potential inconsistencies in the international accounts, which we address by providing rough estimates …

Persistent link: https://www.econbiz.de/10012464352

Foreign Influence and Welfare

Antràs, Pol - 2008

How do foreign interests influence the policy determination process? What are the welfare implications of such foreign influence? In this paper we develop a model of foreign influence and apply it to the study of optimal tariffs. We develop a two-country voting model of electoral competition,...

Persistent link: https://www.econbiz.de/10012464516