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The Global Effects of COVID-19-Induced Uncertainty
Caggiano, Giovanni - 2020
We estimate a three-variate VAR using proxies of global financial uncertainty, the global financial cycle, and world industrial production to simulate the effects of the jump in financial uncertainty observed in correspondence of the Covid-19 outbreak. We predict the cumulative loss in world...
Persistent link: https://www.econbiz.de/10012834352
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The Better Route to Global Tax Coordination : Gradualism or Multilateralism?
Konrad, Kai A. - 2019
In the context of international tax coordination incomplete information is one of the well-known frictions that can lead to bargaining failure and might explain a lack of observed coordination. We consider international negotiations about tax coordination under complete and incomplete...
Persistent link: https://www.econbiz.de/10012892184
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Globalization, Time-Preferences, and Populist Voting
Aronsson, Thomas - 2020
Societies see growing support for populist politicians who advocate an end to globalization. Our behavioral economics … model links impatience to voters' appraisals of an income shock due to globalization that is associated with short-run costs … and delayed gains. The model shows that impatient individuals may reject further globalization if they are subject to …
Persistent link: https://www.econbiz.de/10012826005
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Backward Versus Forward Integration of Firms in Global Value Chains
Egger, Peter; Erhardt, Katharina; Masllorens, Gerard - 2021
model of vertical integration in a supplier-producer relationship that is rooted in the property-rights theory to learn …
Persistent link: https://www.econbiz.de/10013224089
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Firm Heterogeneity and the Labour Market Effects of Trade Liberalisation
Egger, Hartmut; Kreickemeier, Udo - 2021
This paper develops a model that incorporates workers' fair wage preferences into a general equilibrium framework with monopolistic competition between heterogeneous firms à la Melitz (2003). By assuming that the wage considered to be fair by workers depends on the productivity and thus the...
Persistent link: https://www.econbiz.de/10013317452
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Globalisation and the Slope of the Phillips Curve
Kohlscheen, Emanuel; Moessner, Richhild - 2021
We study the effects of globalisation on the slope of the New Keynesian Phillips curve for CPI inflation, based on a broad panel of 35 countries and controlling for possibly non-linear exchange rate effects. We find that the output gap generally has a significant positive effect on inflation,...
Persistent link: https://www.econbiz.de/10013322779
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Subsidizing national champions: an evolutionary perspective
Aubert, Cécile; Falck, Oliver; Heblich, Stephan - 2008
A national-champions-related industrial policy has become (again) en vogue among European politicians. Against this background, our work orders different types of national champions along the industry lifecycle. Different types of locally bound externalities appear along the lifecycle. In a...
Persistent link: https://www.econbiz.de/10010264424
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Globalization, redistribution, and the composition of public education expenditures
Baskaran, Thushyanthan; Hessami, Zohal - 2010
We analyze whether globalization affects the composition of public expenditures for education by integrating arguments … towards lower education. In industrialized countries, on the other hand, globalization has an ambiguous effect on the …
Persistent link: https://www.econbiz.de/10010267052
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International trade, factor mobility and the persistence of cultural-institutional diversity
Belloc, Marianna; Bowles, Samuel - 2009
Cultural and institutional differences among nations may result in differences in the ratios of marginal costs of goods in autarchy and thus be the basis of specialization and comparative advantage, as long as these differences are not eliminated by trade. We provide an evolutionary model of...
Persistent link: https://www.econbiz.de/10010271869
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The bazaar effect, unbundling of comparative advantage, and migration
Kohler, Wilhelm K. - 2007
Germany exhibits a strong reduction in domestic manufacturing production depth (bazaar effect). I argue that this reflects an unbundling of comparative advantage. Using a model where Ricardian plus Heckscher-Ohlin-type comparative advantage relates to fragments of production, I compare a trading...
Persistent link: https://www.econbiz.de/10010274459