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Stigma or Cushion? IMF Programs and Sovereign Creditworthiness
Gehring, Kai; Lang, Valentin F. - 2018
IMF programs are often considered to carry a “stigma” that triggers adverse market reactions. We show that such a negative IMF effect disappears when accounting for endogenous selection into programs. To proxy for a country’s access to financial markets, we use credit ratings and investor...
Persistent link: https://www.econbiz.de/10011932089
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Stigma or Cushion? IMF Programs and Sovereign Creditworthiness
Gehring, Kai - 2018
IMF programs are often considered to carry a “stigma” that triggers adverse market reactions. We show that such a negative IMF effect disappears when accounting for endogenous selection into programs. To proxy for a country's access to financial markets, we use credit ratings and investor...
Persistent link: https://www.econbiz.de/10012920590
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Migrants and Firms : Evidence from China
Imbert, Clément - 2019
price shocks. Following a migrant inflow, labor costs decline and employment expands. Labor productivity decreases sharply … migration mostly benefits low- productivity firms within locations. As migrants select into high-productivity destinations …, migration however strongly contributes to the equalization of factor productivity across locations …
Persistent link: https://www.econbiz.de/10012892144
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Intra- and Inter-Industry Productivity Spillovers in OECD Manufacturing : A Spatial Econometric Perspective
Badinger, Harald; Egger, Peter H. - 2021
We adopt a spatial econometric approach to estimate intra- and inter-industry productivity spillovers in total factor … productivity transmitted through input-output relations in a sample of 13 OECD countries and 15 manufacturing industries. Both R …
Persistent link: https://www.econbiz.de/10013316626
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An Analysis of the Impact of Public Infrastructure on Productivity Performance of Mexican Industry
Mamatzakis, Emmanuel C. - 2021
infrastructure on economic performance in terms of gains in profits, cost savings, as well as in terms of productivity growth … productivity growth reveals that the economic performance could be enhanced by investing in infrastructure capital …
Persistent link: https://www.econbiz.de/10013316826
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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
firms position themselves in global production lines and how this evolves with productivity and performance over the firm …
Persistent link: https://www.econbiz.de/10012501399
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The Penn effect within a country: Evidence from Japan
Cheung, Yin-Wong; Fujii, Eiji - 2012
within Japan, we find that the measures of sectoral productivity do not behave in the way suggested by the Balassa …
Persistent link: https://www.econbiz.de/10010288476
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Is there a Debt-Threshold Effect on Output Growth?
Chudik, Alexander; Mohaddes, Kamiar; Pesaran, M. Hashem; … - 2015
This paper studies the long-run impact of public debt expansion on economic growth and investigates whether the debt-growth relation varies with the level of indebtedness. Our contribution is both theoretical and empirical. On the theoretical side, we develop tests for threshold effects in the...
Persistent link: https://www.econbiz.de/10011307102
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External Debt and International Trade: Another Mismatch
Fujii, Eiji - 2015
Currency mismatch makes a debtor country suffer from domestic depreciation by magnifying the burden of its external debt. Since external debt can be paid back by exporting more than importing, a crucial channel for inducing recovery is net export. It is not warranted, however, that domestic...
Persistent link: https://www.econbiz.de/10011388196
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On the Roles of Different Foreign Currencies in European Bank Lending
Krogstrup, Signe; Tille, Cedric - 2015
We draw on a new data set on the use of Swiss francs and other currencies by European banks to assess the patterns of foreign currency bank lending. We show that the patterns differ sharply across foreign currencies. The Swiss franc is used predominantly for lending to residents, especially...
Persistent link: https://www.econbiz.de/10011388211