Showing 1 - 10 of 1,250
Natural resources account for 20% of world trade, and dominate the exports of many countries. Policy is used to …
Persistent link: https://www.econbiz.de/10009518238
Suppose that when addressing the question of "what’s left for the WTO?," negotiators relied not on the agenda established in 2001 but instead on the terms-of-trade theory of trade agreements to identify tariff negotiating priorities. This paper uses the lens of the terms-of-trade theory to...
Persistent link: https://www.econbiz.de/10011415258
The debate on trade and growth increasingly focuses on the composition of exports. Exports of more "sophisticated" products appear to be positively correlated with growth, and upgrading the quality of exports is high on the policy agenda of many countries. This study presents evidence suggesting...
Persistent link: https://www.econbiz.de/10003922581
We study how financial frictions affect firm-level heterogeneity and trade. We build a model where productivity differences across monopolistically competitive firms are endogenous and depend on investment decisions at the entry stage. By increasing entry costs, financial frictions lower the...
Persistent link: https://www.econbiz.de/10011447515
Historical data for over hundred years and 14 countries is used to estimate the long-run effect of productivity on the real exchange rate. We find large variations in the productivity effect across four distinct monetary regimes in the sample period. Although the traditional Balassa-Samuelson...
Persistent link: https://www.econbiz.de/10010374513
offshoring plays for domestic volatility of employment. Offshoring is modeled as in Antràs & Helpman (2004), but we assume … has a pro-offshoring effect. And 2), under this same condition, offshoring increases volatility in domestic employment of … offshoring firms and the volatility of offshore employment of these same firms is larger than volatility of domestic employment. …
Persistent link: https://www.econbiz.de/10011497799
exert a large and persistent effect on the volatility of stock returns of acquirers and that this response is crucially … - engender a positive response in acquirers' volatility. Our results suggest that acquisitions affect uncertainty because they …
Persistent link: https://www.econbiz.de/10012158166
Persistent link: https://www.econbiz.de/10003641741
The volatility of unanticipated output growth in income per capita is detrimental to long-run development, controlling …. This effect is significant and robust over a wide range of specifications. We unravel the effects of volatility by opening … dependence, physical and institutional barriers to trade and associated policy shocks increase volatility sharply and harm growth …
Persistent link: https://www.econbiz.de/10003832092
direction. Interventions increase volatility in the short run as they are regarded as information; but they can reduce … volatility overall. Ways of transmission may reach beyond the signaling channel and also include the portfolio balance and a …
Persistent link: https://www.econbiz.de/10003790983