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globalized world has become, again, en vogue among European politicians. The only apparent controversy about the idea revolves …
Persistent link: https://www.econbiz.de/10013316793
This paper analyzes the impact of financial development on export concentration. I incorporate credit constraints into a trade model with heterogeneous exporters and endogenous quality choice. The model predicts that financial development increases innovation activity and export shares of larger...
Persistent link: https://www.econbiz.de/10014255423
We use transaction-level data to study changes in the concentration of US imports. Concentration has fallen in the typical industry, while it is stable by industry and origin country. The fall in concentration is driven by the extensive margin: the number of exporting firms has grown, and the...
Persistent link: https://www.econbiz.de/10013235106
This paper studies structural change in production networks for intermediate inputs (input-output network) and new capital (investment network). For each network, we document a declining fraction of production by goods sectors and a rising fraction of production by services sectors. We develop a...
Persistent link: https://www.econbiz.de/10014348090
’s level of integration in the world economy through the full architecture of its second, third, and all other higher …-order connections in the world trade network. We apply our methodology to a sample of 204 countries spanning the period from 1962 to …
Persistent link: https://www.econbiz.de/10013211116
The nexus between corruption and economic growth has been examined for a long time. Many empirical studies measured corruption by the reversed Transparency International's Perception of Corruption Index (CPI) and ignored that the CPI was not comparable over time. The CPI is comparable over time...
Persistent link: https://www.econbiz.de/10012861457
We estimate Okun's law, the negative relationship between output and the unemployment rate, at the sector level for the US, the UK, Japan, and Switzerland to test several hypotheses that may explain why the aggregate Okun's coeffcients are different across countries. Specifically, we show that...
Persistent link: https://www.econbiz.de/10012841145
growth across the globe. In a large sample of countries, equality in the distribution of income as measured by the World Bank … and by The Standardized World Income Inequality Database are seen to be correlated with economic diversification, the rule … in the World Values Survey, and democracy, all of which are good for growth as reflected in the purchasing power of per …
Persistent link: https://www.econbiz.de/10012892099
The commonly-used satellite images of nighttime lights fail to capture the true brightness of most cities. We show that night lights are a reliable proxy for economic activity at the city level, provided they are first corrected for top-coding. We present a stylized model of urban luminosity and...
Persistent link: https://www.econbiz.de/10012892172
We investigate the sources of the great changes in GDP volatility observed from 1966 to 2000. We develop a general equilibrium model and calibrate it to US data in order to characterize the contribution of micro level productivity shocks, inter-sectoral linkages and households' behavior to...
Persistent link: https://www.econbiz.de/10012892302