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Foreign Ownership and Skillbiased Technological Change
Koch, Michael - 2019
We conduct an empirical investigation into the effects of foreign ownership on worker skills using firm-level data from … Spain. To control for endogeneity bias due to selection into foreign ownership, we combine a difference …-in-differences approach with a propensity score weighting estimator. Our results provide novel evidence that foreign-acquired firms actively …
Persistent link: https://www.econbiz.de/10012892251
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FDI Technology Spillovers and Wages
Urban, Dieter M. - 2021
time, the model predicts that foreign investors deduct the economic value of learning from wages of inexperienced workers …
Persistent link: https://www.econbiz.de/10013316795
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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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How to Limit the Spillover from an Inflation Surge to Inflation Expectations?
Dräger, Lena; Lamla, Michael J.; Pfajfar, Damjan - 2023
We study the effects of forward-looking communication in an environment of rising inflation rates on German consumers’ inflation expectations using a randomized control trial. We show that information about rising inflation increases short- and long-term inflation expectations. This initial...
Persistent link: https://www.econbiz.de/10014358863
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Euro Area House Prices and Unconventional Monetary Policy Surprises
Hülsewig, Oliver; Rottmann, Horst - 2021
This paper examines the reaction of house prices in a panel of euro area countries to monetary policy surprises over the period 2010-2019. Using Jordà’s (2005) local projection method, we find that real house prices rise in response to expansionary monetary policy shocks that can be related...
Persistent link: https://www.econbiz.de/10013229702
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Foreign takeovers and wage dispersion in Hungary
Csengődi, Sándor; Urban, Dieter M. - 2008
models by estimating the wage-premium of a foreign takeover. The technology spillover theory predicts a larger wage growth in … firms taken over by foreign investors than in local firms. However, this wage growth should be confined to high …
Persistent link: https://www.econbiz.de/10010272307
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International Trade and Social Connectedness
Bailey, Michael - 2020
We use anonymized data from Facebook to construct a new measure of the pairwise social connectedness between 180 countries and 332 European regions. We find that two countries trade more with each other when they are more socially connected and when they share social connections with a similar...
Persistent link: https://www.econbiz.de/10012834994
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The Intensive Margin in Trade
Fernandes, Ana M. - 2019
Is the variation in bilateral trade flows across countries primarily due to differences in the number of exporting firms (the extensive margin) or in the average size of an exporter (the intensive margin)? And how does this affect the estimation and quantitative implications of the Melitz (2003)...
Persistent link: https://www.econbiz.de/10012890632
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Arming in the Global Economy : The Importance of Trade with Enemies and Friends
Garfinkel, Michelle R. - 2019
We analyze how trade openness matters for interstate conflict over productive resources. Our analysis features a terms-of-trade channel that makes security policies trade-regime dependent. Specifically, trade between two adversaries reduces each one’s incentive to arm given the opponent’s...
Persistent link: https://www.econbiz.de/10012892081
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Global Value Chains, Trade Shocks and Jobs : An Application to Brexit
Vandenbussche, Hylke - 2019
We develop a network trade model with country-sector level input-output linkages. It includes (1) domestic and global value chain linkages between all country-sectors, (2) direct as well as indirect shipments (via other sectors and countries) to a final destination, (3) value added rather than...
Persistent link: https://www.econbiz.de/10012892112