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Employment Protection Legislation and Wages

Leonardi, Marco; Pica, Giovanni - 2021

In a perfect labor market severance payments can have no real effects as they can be undone by a properly designed labor contract (Lazear 1990). We give empirical content to this proposition by estimating the effects of EPL on entry wages and on the tenure-wage profile in a quasi-experimental...

Persistent link: https://www.econbiz.de/10013316954

World trade and global integration in production processes: a re-assessment of import demand equations

Barrell, Ray; Dées, Stéphane - 2005

It is common to observe that demand elasticities in trade equations for imports are implausibly large, and that they differ between countries. Both of these present us with problems, as they imply trade will rise without bound as a proportion of GDP. The research reported here looks for...

Persistent link: https://www.econbiz.de/10011604549

Global Value Chains during the Great Trade Collapse : A Bullwhip Effect?

Altomonte, Carlo - 2012

This paper analyzes the performance of global value chains during the trade collapse. To do so, it exploits a unique transaction-level dataset on French firms containing information on cross-border monthly transactions matched with data on worldwide intra-firm linkages as defined by property...

Persistent link: https://www.econbiz.de/10013113261

Fiscal Equalization and the Tax Structure

Holm-Hadulla, Federic - 2021

between jurisdictions lowers the perceived excess burden of distortionary taxation and thereby raises its attractiveness from … taxation serves as a Pigouvian intervention to correct externalities. The empirical analysis supports redistribution between … jurisdictions as important, but insufficient, to fully explain the observed reliance on distortionary taxation. Among the remaining …

Persistent link: https://www.econbiz.de/10013315380

The Export-Magnification Effect of Offshoring

Kleinert, Joern - 2012

In this paper we provide a new explanation for the increase in world trade over the last two decades. We show analytically in a general equilibrium model with heterogeneous firms that a fall in variable offshoring costs boosts trade in differentiated final goods through an intra-industry...

Persistent link: https://www.econbiz.de/10013107510

Business Groups as Hierarchies of Firms : Determinants of Vertical Integration and Performance

Altomonte, Carlo - 2013

We explore the nature of Business Groups, that is network-like forms of hierarchical organization between legally autonomous firms spanning both within and across national borders. Exploiting a unique dataset of 270,474 headquarters controlling more than 1,500,000 (domestic and foreign)...

Persistent link: https://www.econbiz.de/10013081466

Central Clearing and Collateral Demand

Duffie, Darrell - 2014

We use an extensive data set of bilateral exposures on credit default swap (CDS) to estimate the impact on collateral demand of new margin and clearing practices and regulations. We decompose collateral demand for both customers and dealers into several key components, including the “velocity...

Persistent link: https://www.econbiz.de/10013059582

The Impact of Global Warming on Inflation : Averages, Seasonality and Extremes

Kotz, Maximilian; Kuik, Friderike; Lis, Eliza; Nickel, … - 2023

Understanding of the macroeconomic effects of climate change is developing rapidly, but the implications for past and future inflation remain less well understood. Here we exploit a global dataset of monthly consumer price indices to identify the causal impacts of changes in climate on...

Persistent link: https://www.econbiz.de/10014354529

Wage structure effects of international trade: evidence from a small open economy

Du Caju, Philip; Rycx, François; Tojerow, Ilan - 2011

In the last decades, international trade has increased between industrialised countries and between high- and low-wage countries. This important change has raised questions on how international trade affects the labour market. In this spirit, this paper aims to investigate the impact of...

Persistent link: https://www.econbiz.de/10011605371

Macroeconomic Implications of Downward Wage Rigidities

Abbritti, Mirko - 2011

Growth of wages, unemployment, employment and vacancies exhibit strong asymmetries between expansionary and contractionary phases. In this paper we analyze to what degree downward wage rigidities in the bargaining process affect other variables of the economy. We introduce asymmetric wage...

Persistent link: https://www.econbiz.de/10013128256