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Effects of Unilateral Climate Policy on Terms of Trade, Capital Accumulation, and Welfare in a World Economy
Farmer, Karl - 2013
We present a two-good, two-country overlapping generations model where emissions arise from production and each country has a domestic emission permit system. When one country unilaterally reduces her cap on emissions, her output available for domestic and foreign consumption diminishes more...
Persistent link: https://www.econbiz.de/10012753478
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Incomplete Contracts and the Impact of Globalization on Consumer Welfare
Defever, Fabrice - 2014
We embed a North-South trade model into an incomplete contracts setting where the production of heterogeneous firms can be geographically separated. When a Northern headquarter contracts with a Southern supplier instead of a Northern supplier, the presence of international incomplete contracts...
Persistent link: https://www.econbiz.de/10013067873
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Workers without Borders? Culture, Migration and the Political Limits to Globalization
Jain, Dr. Sanjay; Majumdar, Sumon; Mukand, Sharun - 2021
This paper examines the role of cultural factors in driving the politics and shape of migration policy. We show that there exists a broad political failure that results in inefficiently high barriers restricting the import of temporary foreign workers and also admitting an inefficiently large...
Persistent link: https://www.econbiz.de/10013316248
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Globalization, Jobs, and Welfare : The Roles of Social Protection and Redistribution
Ranjan, Priya - 2015
This paper studies the welfare and policy implications of globalization when risk averse workers face the risk of … unemployment. If the jobs performed by domestic workers can be easily substituted by imports, then globalization reduces wages and … increases unemployment. In this situation, in the absence of any government intervention globalization not only reduces the …
Persistent link: https://www.econbiz.de/10013028782
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Trade and Investment in the Global Economy
Anderson, James E. - 2017
We develop a dynamic multi-country trade model with foreign direct investment (FDI) in the form of non-rival technology …
Persistent link: https://www.econbiz.de/10012947623
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The Political Economy of International Finance Corporation Lending
Dreher, Axel - 2019
The bulk of International Finance Corporation (IFC) lending benefits companies from rich countries, and projects in countries with middle income. Large conglomerates such as Lidl or Mövenpick have been among its direct beneficiaries. This contrasts to some extent with the IFC's official...
Persistent link: https://www.econbiz.de/10012900790
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Intercompany Loans and Profit Shifting - Evidence from Company-Level Data
Buettner, Thiess; Wamser, Georg - 2021
This paper is concerned with tax-planning strategies of multinational corporations. A theoretical analysis discusses the choice of the capital structure in a setting where intercompany loans can be used to shift profits to low-tax countries. Empirical evidence is provided using micro-level panel...
Persistent link: https://www.econbiz.de/10013317154
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Foreign-Law Bonds : Can They Reduce Sovereign Borrowing Costs?
Chamon, Marcos - 2018
Governments often issue bonds in foreign jurisdictions, which can provide additional legal protection vis-à-vis domestic bonds. This paper studies the effect of this jurisdiction choice on bond prices. We test whether foreign-law bonds trade at a premium compared to domestic-law bonds. We use...
Persistent link: https://www.econbiz.de/10012912664
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Commodity Tax Structure Under Uncertainty in a Perfectly Competitive Market
Goerke, Laszlo - 2011
In a partial equilibrium setting without price uncertainty, the balanced-budget substitution of an ad valorem tax on output for a specific (unit) tax can enhance welfare in imperfectly competitive markets and is without impact in a competitive world. This paper demonstrates that a substitution...
Persistent link: https://www.econbiz.de/10013130099
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Skilled Worker Migration and Trade : Inequality and Welfare
Bougheas, Spiros - 2011
We develop a two-sector, two-country model where trade is driven by technological differences. Each country is populated by large number of heterogeneous workers distinguished by their level of skills. Given that one country has a technological advantage in the skilled intensive good when we...
Persistent link: https://www.econbiz.de/10013132017