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We build a heterogeneous-firms model with firm-specific wages and credit frictions to study the role of financial development for inequality in the global economy. If there are many small firms, better access to external funds reduces wage inequality and unemployment. In contrast, if there are...
Persistent link: https://www.econbiz.de/10012996265
High income growth in many countries in East Asia and the Middle East has been accompanied by increasing income inequality and widening gaps between rich and poor, and urban and rural. It is therefore it is important to examine the interrelationships between inequality and economic growth. This...
Persistent link: https://www.econbiz.de/10013099565
, the ability of the rest of the world to absorb Asia's exports has decreased. Export production in some Asian countries has …
Persistent link: https://www.econbiz.de/10013101411
The paper investigates the impact of exchange rate volatility on growth in Emerging Europe and East Asia. Exchange stability has been argued to affect growth negatively as it deprives countries from the ability to react in a flexible way to asymmetric real shocks and may enhance the probability...
Persistent link: https://www.econbiz.de/10013317017
stronger ties to French culture exhibit a more effective transplant even when controlling for institutional proximity. Our …
Persistent link: https://www.econbiz.de/10013000827
The empirical literature on economic growth and development has moved from the study of proximate determinants to the analysis of ever deeper, more fundamental factors, rooted in long-term history. A growing body of new empirical work focuses on the measurement and estimation of the effects of...
Persistent link: https://www.econbiz.de/10013105134
We study the effect of import competition on workers’ mental distress. To this purpose, we source information on the mental health of British workers from the British Household Panel Survey, and combine it with measures of import competition in more than 100 industries over 2001-2007. We find...
Persistent link: https://www.econbiz.de/10013315519
based on differences in average answers to questions from the World Values Survey. Using a simple theoretical model we …
Persistent link: https://www.econbiz.de/10013020583
In this paper, we provide evidence that expanding firms tend to serve new markets which are geographically close and culturally related to their prior export destinations. We quantify the impact of this spatial pattern using a Chinese firm-level data set. To ensure an exogenous set of potential...
Persistent link: https://www.econbiz.de/10013315943
The European sovereign debt crisis revived the discussion concerning the pros and cons of exchange rate adjustment in the face of asymmetric shocks. Exit from the euro area is to regain rapidly international competitiveness. Exchange rate stability with structural reforms could be beneficial for...
Persistent link: https://www.econbiz.de/10013089423