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Trade Costs, Market Access and Economic Geography : Why the Empirical Specification of Trade Costs Matters
Bosker, Erik Maarten; Garretsen, Harry - 2021
Trade costs are crucial in new economic geography (NEG) models. The unavailability of actual trade costs data requires the approximation of trade costs. Most NEG studies do not deal with the ramifications of the particular trade costs specification used. This paper shows that the specification...
Persistent link: https://www.econbiz.de/10013316892
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Price equalization does not imply free trade
Mutreja, Piyusha; Ravikumar, B.; Riezman, Raymond; … - 2013
In this paper we show that price equalization alone is not sufficient to determine the barriers to international trade. There are many barrier combinations that deliver price equalization, but each combination implies a different volume of trade. We demonstrate this first theoretically in a...
Persistent link: https://www.econbiz.de/10010291497
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Arming in the Global Economy : The Importance of Trade with Enemies and Friends
Garfinkel, Michelle R. - 2019
between enemies versus trade between friends to provide some evidence that is consistent with the theory …
Persistent link: https://www.econbiz.de/10012892081
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International Trade and Stable Resolutions of Resource Disputes
Garfinkel, Michelle R.; Syropoulos, Constantinos - 2022
We consider a dynamic setting in which two sovereign states with overlapping ownership claims on a resource/asset first arm and then choose whether to resolve their dispute violently through war or peacefully through settlement. Both approaches depend on the states’ military capacities, but...
Persistent link: https://www.econbiz.de/10014243081
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The Falling Elasticity of Global Trade to Economic Activity : Testing the Demand Channel
Auboin, Marc - 2018
Since the recovery from the great financial crisis in 2010, global real trade flows grew much slower than pre-crisis, in both absolute terms (growth rates) and relative terms (relative to GDP, from 2:1 in the great 1990’s to 1:1 since 2012) A debate has arisen as to whether this global trade...
Persistent link: https://www.econbiz.de/10012908674
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The Impact of Product and Labour Market Reform on Growth : Evidence for OECD Countries Based on Local Projections
de Haan, Jakob - 2020
This paper examines the impact of labour and product market reforms on economic growth in 25 OECD countries between 1985 and 2013, and tests whether this impact is conditioned by the fiscal policy stance, i.e. whether there are fiscal expansions or adjustments. Our local projection results...
Persistent link: https://www.econbiz.de/10012829322
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Firm Heterogeneity, Capital Misallocation and Optimal Monetary Policy
González, Beatriz; Nuno, Galo; Thaler, Dominik; … - 2021
equilibrium, general-equilibrium effects overturn this result: a monetary expansion increases the investment of high-productivity … their productivity and net worth and face collateral constraints that cause capital misallocation. TFP endogenously depends … firms relatively more than that of low-productivity ones, crowding out the latter and increasing TFP. We provide empirical …
Persistent link: https://www.econbiz.de/10013311708
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The Devil is in the Shadow : Do Institutions Affect Income and Productivity or Only Official Income and Official Productivity?
Dreher, Axel; Meon, Pierre-Guillaume; Schneider, Friedrich - 2021
This paper assesses the relationship between institutions, output, and productivity, when official output is corrected … output and total factor productivity, and its negative impact on the size of the underground economy. However, once output is … total ("corrected") factor productivity even becomes insignificant. Differences in corrected output must then be attributed …
Persistent link: https://www.econbiz.de/10013316690
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Real-Time Forecasting Using Mixed-Frequency Vars with Time-Varying Parameters
Heinrich, Markus - 2020
This paper provides a detailed assessment of the real-time forecast accuracy of a wide range of vector autoregressive models (VAR) that allow for both structural change and indicators sampled at different frequencies. We extend the literature by evaluating a mixed-frequency time-varying...
Persistent link: https://www.econbiz.de/10012842676
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Non-Linearities and Persistence in US Long-Run Interest Rates
Caporale, Guglielmo Maria; Gil-Alana, Luis A.; … - 2021
-August 2020, the other from the ECB reporting average monthly values over the period January 1900-August 2020. The estimation …
Persistent link: https://www.econbiz.de/10013314848