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A Model for International Spillovers to Emerging Markets
Houssa, Romain - 2019
This paper develops a small open economy (SOE) dynamic stochastic general equilibrium (DSGE) model that helps to explain business cycle synchronization between an emerging market and advanced economies. The model captures the specificities of both economies (e.g. primary commodity,...
Persistent link: https://www.econbiz.de/10012866875
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The Effect of U.S. Stress Tests on Monetary Policy Spillovers to Emerging Markets
Liu, Emily - 2019
This paper shows that monetary policy and prudential policies interact. U.S. banks issue more commercial and industrial loans to emerging market borrowers when U.S. monetary policy eases. The effect is less pronounced for banks that are more constrained through the U.S. bank stress tests,...
Persistent link: https://www.econbiz.de/10012858696
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FDI Technology Spillovers and Wages
Urban, Dieter M. - 2021
This study distinguishes multinational firm (MNE) technology-spillover from learning effects. Whenever learning takes time, the model predicts that foreign investors deduct the economic value of learning from wages of inexperienced workers and add it to experienced ones to prevent them from...
Persistent link: https://www.econbiz.de/10013316795
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Institutions, Financial Development, and Small Business Survival : Evidence from European Emerging Markets
Iwasaki, Ichiro; Kočenda, Evžen; Shida, Yoshisada - 2021
In this paper, we traced the survival status of 94,401 small businesses in 17 European emerging markets from 2007–2017 and empirically examined the determinants of their survival, focusing on institutional quality and financial development. We found that institutional quality and the level of...
Persistent link: https://www.econbiz.de/10013315145
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Optimal Ownership and Firm Performance : An Analysis of China's FDI Liberalization
Eppinger, Peter; Ma, Hong - 2023
Seminal theories of the firm posit that firm ownership is allocated to minimize contractual inefficiencies. Yet, it remains unclear how much the optimal ownership choice affects firm performance in practice. This paper provides a first quantification of the gains from optimal ownership within...
Persistent link: https://www.econbiz.de/10014346399
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Growing like China : firm performance and global production line position
Chor, Davin; Manova, Kalina; Yu, Zhihong - 2020 - Version of August, 2020
Global value chains have fundamentally transformed international trade and development in recent decades. We use matched firm-level customs and manufacturing survey data, together with Input-Output tables for China, to examine how Chinese firms position themselves in global production lines and...
Persistent link: https://www.econbiz.de/10012501399
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Multinational Production and Global Shock Propagation During the Great Recession
Li, Haishi - 2023
Did multinational production (MP) exacerbate or mitigate the collapse of international trade during the Great Recession? What role did MP and trade links play in propagating economic shocks across countries? I resolve the “Multinationals’ Resilience Puzzle” during the Great Recession by...
Persistent link: https://www.econbiz.de/10014358332
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Barriers to Global Capital Allocation
Pellegrino, Bruno; Spolaore, Enrico; Wacziarg, Romain T. - 2021
We quantify the impact of barriers to international investment, using a novel multi-country dynamic general equilibrium model with heterogeneous investors and imperfect capital mobility. Our model yields a gravity equation for bilateral foreign asset positions. We estimate this gravity equation...
Persistent link: https://www.econbiz.de/10013226659
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Foreign Competition and Domestic Innovation : Evidence from U.S. Patents
Autor, David H. - 2019
emanating from China's economic ascent could in theory either augment or stifle U.S. innovation. Using three decades of U ….S. patents matched to corporate owners, we quantify how foreign competition affects domestic innovation. Rising import exposure …
Persistent link: https://www.econbiz.de/10012861408
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Financial integration, globalization, and real activity
De Nicolò, Gianni; Juvenal, Luciana - 2012
distinct impact of financial integration and globalization on several dimensions of real activity. We find that: (a) financial … financial integration predict better growth prospects; (c) both advances in financial integration and globalization are … financial integration and globalization indeed foster countries' growth, and there appears to be no trade-off between these …
Persistent link: https://www.econbiz.de/10010280851