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We test whether financial fluctuations affect firms' decisions, through their impact on banks' cost of funding. We exploit two shocks to Italian bank CDS spreads and equity valuations: the 2007-2009 financial crisis and the 2010-2012 sovereign debt crisis. Using newly available data linking over...
Persistent link: https://www.econbiz.de/10010229932
In this paper we study the effect of NAFTA on the responsiveness of Mexican economy to real exchange rate shocks. We argue that, by opening the U.S. and Canadian markets to Mexican goods, NAFTA made it easier for domestic producers to take advantage of the opportunities brought by the...
Persistent link: https://www.econbiz.de/10003904720
This paper considers labor market adjustments following a large import shock in the German clothing industry caused by … industries and occupations. -- Import shock ; adjustment ; clothing industry ; Germany …
Persistent link: https://www.econbiz.de/10003926723
How does international integration affect the welfare state? Does it call for a leaner or an expanded welfare state …? International integration may affect the distortions caused by welfare state activities but also the risks motivating social …
Persistent link: https://www.econbiz.de/10011406889
institutions do not appear to condition the effect of openness. -- International trade ; real openness ; unemployment ; GMM models …
Persistent link: https://www.econbiz.de/10003847129
There is no empirical evidence that trade exposure per se increases child labour. As trade theory and household economics lead us to expect, the cross-country evidence seems to indicate that trade reduces or, at worst, has no significant effect on child labour. Consistently with the theory, a...
Persistent link: https://www.econbiz.de/10011410919
Persistent link: https://www.econbiz.de/10001744048
This paper focuses on how gender segmentation in labor markets shapes the local effects of international trade. We … shock; and (b) the domestic relevance of the foreign countries in which the demand shocks originate from. If the foreign … demand shock from a relevant market happens in a female-intensive (male-intensive) sector, the model predicts that the female …
Persistent link: https://www.econbiz.de/10013500673
volatility of both inflation and unemployment differentials. Finally, we show that it is important to take into account the …
Persistent link: https://www.econbiz.de/10009536516
This study empirically examines the fragility of five major Asian economies (China, Hong Kong, India, Japan, and South Korea) to economic policy uncertainty (EPU) of US and EU, and oil prices in different state of the economies. To investigate these dynamics, we use the relative tail dependence...
Persistent link: https://www.econbiz.de/10012226632