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Where is the value added? : trade liberalization and production networks
Aichele, Rahel; Heiland, Inga - 2016
Fragmentation of the global value chain makes it difficult to assess the effects of trade liberalization on the global pattern of production. Gross bilateral trade ows no longer reveal a country's or a sector's value added contribution. Yet, it is value added that matters for employment and...
Persistent link: https://www.econbiz.de/10011517926
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The network origins of the gains from trade
Bosker, Maarten; Westbrock, Bastian - 2019
In this paper, we develop a network perspective on the welfare gains from trade in today's internationally fragmented supply chains. Towards this end, we study a Ricardian trade model featuring trade in final and intermediate products, and introduce a novel comparative statics approach to...
Persistent link: https://www.econbiz.de/10011986141
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Risk-sharing and contagion in networks
Cabrales, Antonio; Gottardi, Piero; Vega-Redondo, Fernando - 2014 - This version: January 15, 2014
We investigate the trade-off between the risk-sharing gains enjoyed by more interconnected firms and the costs … resulting from an increased risk exposure. We find that when the shock distribution displays "fat" tails, extreme segmentation …
Persistent link: https://www.econbiz.de/10010260030
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Fire sales and ex ante valuation of systemic risk : a financial equilibrium networks approach
Bougheas, Spiros P.; Spencer, Adam Hal - 2022
ante risk assessment and derive risk premia for every balance sheet item where liabilities are differentiated according to … priority rights. We find that risk premia reflect both idiosyncratic risk and risk of contagion (network risk). Moreover, we … show that network risk magnifies the gap between the risk premia of equity and debt. We also perform comparative statics …
Persistent link: https://www.econbiz.de/10013457674
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Financing costs and the efficiency of public-private partnerships
Avdiu, Besart; Weichenrieder, Alfons J. - 2020
advantage in building infrastructure. At the same time, hard budget constraints for PPPs introduce a bankruptcy risk and …
Persistent link: https://www.econbiz.de/10012316973
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Competition and trust : evidence from German car manufacturers
Felli, Leonardo; Koenen, Johannes; Stahl, Konrad - 2011
We explore the determinants and effects of trust relationships between upstream suppliers and downstream producers. Using unique survey data on individual supplier-buyer relationships in the German automotive industry, we show, by means of different measures of supplier-buyer trust, that higher...
Persistent link: https://www.econbiz.de/10009010507
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Who should pay for certification?
Stahl, Konrad; Strausz, Roland - 2011
Who does, and who should initiate costly certification by a third party under asymmetric quality information, the buyer or the seller? Our answer - the seller - follows from a nontrivial analysis revealing a clear intuition. Buyer-induced certification acts as an inspection device,...
Persistent link: https://www.econbiz.de/10009011365
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Competition and innovation in automobile markets
Ghosal, Vivek; Ni, Jiayao - 2015
Using data from the US automobile market, we empirically examine the link between competition and innovation. Consistent with a large literature, we use patent counts as a measure of innovation. The combination of the US market's economic importance, market dynamics, and the significant...
Persistent link: https://www.econbiz.de/10011342391
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What drives home market advantage?
Coşar, A. Kerem; Grieco, Paul L. E.; Li, Shengyu; … - 2015
In the automobile industry, as in many tradable goods markets, firms earn their highest market share within their domestic market. This home market advantage persists despite substantial integration of international markets during the past several decades. The goal of this paper is to quantify...
Persistent link: https://www.econbiz.de/10011346279
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Trust, competition and innovation : theory and evidence from German car manufacturers
Calzolari, Giacomo; Felli, Leonardo; Koenen, Johannes; … - 2015
We develop a simple theoretical model of a long term buyer-supplier relationship with non-contractible buyer specific R&D investment, and derive predictions on the effects of trust and competition on suppliers' investment and buyers' procurement strategies. We address these issues empirically...
Persistent link: https://www.econbiz.de/10010485523