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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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Hoarding of International Reserves : Mrs Machlup's Wardrobe and the Joneses
Cheung, Yin-Wong; Qian, Xingwang - 2021
Motivated by the observed international reserve hoarding behavior in the post-1997 crisis period, we explore the Mrs Machlup's wardrobe hypothesis and the related keeping-up-with-the-Joneses argument. It is conceived that, in addition to psychological reasons, holding a relatively high level of...
Persistent link: https://www.econbiz.de/10013316903
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Transportation Costs and the Great Divergence
Azarnert, Leonid V. - 2014
This work shows the asymmetric effect of the reduction in transportation costs across different sectors in the process of the Great Divergence. Specifically, the analysis indicates that reductions in transportation costs of industrial goods enhance convergence of the growth rates of trading...
Persistent link: https://www.econbiz.de/10010352350
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Capacity investment under demand uncertainty: An empirical study of the US cement industry, 1994-2006
Ponssard, Jean-Pierre; Thomas, Catherine - 2010
Uncertainty about the level of demand is thought to influence irreversible capacity decisions. This paper examines some … this sector have the ability to deliver cement either from domestic plants or from imports. Since cement is costly to … transport via land, the difference in marginal cost between local production and imports varies across local markets. The …
Persistent link: https://www.econbiz.de/10010274906
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Natural Resource Dependence and Monopolized Imports
Arezki, Rabah; Fernandes, Ana Margarida; Merchán, Federico - 2021
This paper explores the effect of natural resource dependence on market concentration of imports. Using a new panel … dependence is associated with larger market concentration of imports and with higher tariffs. The effect on the concentration of … imports is found to be more pronounced for exporters of 'point-based' resources, imports of primary and consumption goods than …
Persistent link: https://www.econbiz.de/10012657960
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The Dominant Currency Financing Channel of External Adjustment
Casas, Camila; Meleshchuk, Sergii; Timmer, Yannick - 2023
currency debt maturity structure around a large depreciation in Colombia, we show that debt revaluation compresses imports due …
Persistent link: https://www.econbiz.de/10014377488
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The Dynamics of Automation Adoption: Firm-Level Heterogeneity and Aggregate Employment Effects
Bisio, Laura; Cuzzola, Angelo; Grazzi, Marco; … - 2023
We investigate the impact of investment in automation-related goods on adopting and non-adopting firms in the Italian economy during 2011-2019. We integrate datasets on trade activities, firms', and workers' characteristics for the population of Italian importing firms and estimate the effects...
Persistent link: https://www.econbiz.de/10014469504
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Reproducing the Stylized Facts that Motivate Models of International Trade with Heterogeneous Firms Using the World Bank Enterprise Surveys
Riaño, Alejandro - 2023
This article shows how to use the publicy-available firm-level surveys produced by the World Bank Enterprise Surveys (WBES) to reproduce the stylized facts that characterize firm heterogeneity and its relationship with global engagement, as established by Bernard et al. (2007) for manufacturing...
Persistent link: https://www.econbiz.de/10014469855
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Trade and Uncertainty
Novy, Dennis; Taylor, Alan M. - 2014
We offer a new explanation as to why international trade is so volatile in response to economic shocks. Our approach combines the uncertainty shock idea of Bloom (2009) with a model of international trade, extending the idea to the open economy. Firms import intermediate inputs from home or...
Persistent link: https://www.econbiz.de/10010398680
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Import Competition, Heterogeneous Preferences of Managers, and Productivity
Chen, Cheng - 2020
When managers have objectives beyond maximizing monetary profits, inefficiencies may arise. An increase in competition may then force managers to improve the productivity of the firm in order to ensure survival. While this hypothesis has received ample theoretical attention, empirical evidence...
Persistent link: https://www.econbiz.de/10012843433