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Carter, Paddy; Postel-Vinay, Fabien; Temple, Jonathan - C.E.P.R. Discussion Papers - 2013

This paper introduces a framework for studying the optimal dynamic allocation of foreign aid among multiple recipients. We pose the problem as one of weighted global welfare maximization. A donor in the North chooses an optimal path for international transfers, anticipating that consumption and...

Persistent link: https://www.econbiz.de/10011084466

Euro Area Government Bonds—Integration and Fragmentation During the Sovereign Debt Crisis

Ehrmann, Michael; Fratzscher, Marcel - C.E.P.R. Discussion Papers - 2015

tests for contagion (i.e., an intensification in the transmission of shocks across countries), fragmentation (a reduction in … substantial fragmentation from 2010 onward. Flight to quality was present at the height of the crisis, but has largely dissipated … in yields following the OMT announcement, the high current degree of fragmentation poses difficult challenges for policy …

Persistent link: https://www.econbiz.de/10011276387

State Capacity and Military Conflict

Gennaioli, Nicola; Voth, Hans-Joachim - C.E.P.R. Discussion Papers - 2011

's initial level of domestic political fragmentation. We emphasize the role of the 'Military Revolution', which raised the cost …

Persistent link: https://www.econbiz.de/10009385769

The impact of dark trading and visible fragmentation on market quality

de Jong, Frank; Degryse, Hans; van Kervel, Vincent - C.E.P.R. Discussion Papers - 2011

paper evaluates the impact of dark trading and fragmentation in visible order books on liquidity. We consider global … traditional market only. We find that fragmentation in visible order books improves global liquidity, whereas dark trading has a … detrimental effect. In addition, local liquidity is lowered by fragmentation in visible order books, which suggests that the …

Persistent link: https://www.econbiz.de/10009359491

Expansion of Trade at the Extensive Margin: A General Gains-from-Trade Result and Illustrative Examples

Markusen, James R. - C.E.P.R. Discussion Papers - 2010

paper is motivated by recent evidence that trade has greatly expanded on the extensive margin (aka fragmentation, offshoring … understood, a sufficient condition for all countries to gain from fragmentation is that the relative world prices of initially … results in interesting subtleties as initially-traded goods change their trade status following fragmentation. I illustrate …

Persistent link: https://www.econbiz.de/10008468576

International Vertical Specializations, Imperfect Competition and Welfare

Goh, Ai Ting; Olivier, Jacques - C.E.P.R. Discussion Papers - 2004

This Paper looks at the impact of international vertical specialization when the final good industry is imperfectly competitive. Final goods are assembled out of different fragments. In the absence of international vertical specialization all fragments required to produce a given final good must...

Persistent link: https://www.econbiz.de/10005497923

Spiders and Snakes: Offshoring and Agglomeration in the Global Economy

Baldwin, Richard; Venables, Anthony J - C.E.P.R. Discussion Papers - 2010

stages is bounded only by the fragmentation of the underlying engineering process, and lower frictions monotonically increase …

Persistent link: https://www.econbiz.de/10008784697

Supply-chain trade: A portrait of global patterns and several testable hypotheses

Baldwin, Richard; Lopez-Gonzalez, Javier - C.E.P.R. Discussion Papers - 2013

The trade linked to international production networks – supply-chain trade for short – is associated with momentous global economic changes. This paper presents a portrait of the global pattern of supply-chain trade and how it has evolved since 1995. The paper draws on a variety of data...

Persistent link: https://www.econbiz.de/10011083297

A Fragmenting Global Economy: A Weakened WTO, Mega FTAs, and Murky Protectionism

Aggarwal, Vinod K; Evenett, Simon J - C.E.P.R. Discussion Papers - 2013

Although the global economy has begun to recover from the 2008-2011 financial crisis, challenges to the world trading system have increased. Several trends are taking public policies further away from the core WTO disciplines of non-discrimination, namely MFN and national treatment. This has...

Persistent link: https://www.econbiz.de/10011084204

Trade in Business Services in General Equilibrium

Markusen, James R.; Strand, Bridget - C.E.P.R. Discussion Papers - 2007

paper, we adapt a general model of fragmentation of production activities to try to capture the specific features of …

Persistent link: https://www.econbiz.de/10005662176