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Novy, Dennis - 2014

combines the uncertainty shock idea of Bloom (2009) with a model of international trade, extending the idea to the open economy …. Firms import intermediate inputs from home or foreign suppliers, but with higher costs in the latter case. Due to fixed … costs of ordering firms hold an inventory of intermediates. We show that in response to an uncertainty shock firms optimally …

Persistent link: https://www.econbiz.de/10012458725

How Much of Chinese Exports is Really Made In China? Assessing Domestic Value-Added When Processing Trade is Pervasive

Koopman, Robert - 2008

The rise of China in world trade has brought both benefits and anxiety to other economies. For many policy questions, it is crucial to know the extent of domestic value added (DVA) in exports, but the computation is more complicated when processing trade is pervasive. We propose a method for...

Persistent link: https://www.econbiz.de/10012464536

Networked FDI : Sales and Sourcing Patterns of Japanese Foreign Affiliates

Baldwin, Richard - 2012

This paper applies a novel empirical approach to characterising the horizontal-ness and vertical-ness of affiliates based on Yeaple's complex FDI concept. In its simplest form, horizontal-ness is measured as affiliates' local sales share while their vertical-ness is measures as their share of...

Persistent link: https://www.econbiz.de/10012460576

Commodity Booms and Busts in Emerging Economies

Drechsel, Thomas - 2017

Emerging economies, particularly those dependent on commodity exports, are prone to highly disruptive economic cycles. This paper proposes a small open economy model for a net commodity exporter to quantitatively study the triggers of these cycles. The economy consists of two sectors, one of...

Persistent link: https://www.econbiz.de/10012453995

The Great Trade Collapse of 2008-09 : An Inventory Adjustment?

Alessandria, George - 2010

This paper examines the role of inventories in the decline of production, trade, and expenditures in the US in the economic crisis of late 2008 and 2009. Empirically, we show that international trade declined more drastically than trade-weighted production or absorption and there was a sizeable...

Persistent link: https://www.econbiz.de/10012462596

Trade Wedges, Inventories, and International Business Cycles

Alessandria, George - 2012

The large, persistent fluctuations in international trade that can not be explained in standard models by changes in expenditures and relative prices are often attributed to trade wedges. We show that these trade wedges can reflect the decisions of importers to change their inventory holdings....

Persistent link: https://www.econbiz.de/10012460469

Monetary Non-Neutrality in a Multi-Sector Menu Cost Model

Nakamura, Emi - 2008

Empirical evidence suggests that as much as 1/3 of the U.S. business cycle is due to nominal shocks. We calibrate a multi-sector menu cost model using new evidence on the cross-sectional distribution of the frequency and size of price changes in the U.S. economy. We augment the model to...

Persistent link: https://www.econbiz.de/10012464646

Trade-in-goods and trade-in-tasks : An Integrating Framework

Baldwin, Richard - 2010

Our paper integrates results from trade-in-task theory into mainstream trade theory by developing trade-in-task analogues to the four famous theorems (Heckscher-Ohlin, factor price equalisation, Stolper-Samuelson, and Rybczynski) and showing the standard gains-from-trade theorem does not hold...

Persistent link: https://www.econbiz.de/10012462768

Persistent Trade Effects of Large Exchage Rate Shocks

Baldwin, Richard - 1986

This paper presents a theoretical basis fcr the srgunent that large exchange rate shocks - such as the rise of the dollar from 1980 to 1985 - may shift historical relationships between exchange rates and trade flows. We begin with partial models in which large exchange rate fluctuations lead to...

Persistent link: https://www.econbiz.de/10012477053

Exporting and Firm Performance : Chinese Exporters and the Asian Financial Crisis

Park, Albert - 2009

We ask how export demand shocks associated with the Asian financial crisis affected Chinese exporters. We construct firm-specific exchange rate shocks based on the pre-crisis destinations of firms' exports. Because the shocks were unanticipated and large, they are a plausible instrument for...

Persistent link: https://www.econbiz.de/10012464017

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