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Financial Liberalization and the Relationship-Specificity of Exports
Defever, Fabrice; Suedekum, Jens - 2013
We investigate the causal impact of equity market liberalizations in the period 1980-1997 on sectoral export performance across 91 countries. The increased availability of external finance has boosted trade of industries that intensively use relationship-specific inputs, and lowered exports of...
Persistent link: https://www.econbiz.de/10010319558
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Financial Liberalization and the Relationship-Specificity of Exports
Defever, Fabrice; Suedekum, Jens - Institute for the Study of Labor (IZA) - 2013
We investigate the causal impact of equity market liberalizations in the period 1980‐1997 on sectoral export performance across 91 countries. The increased availability of external finance has boosted trade of industries that intensively use relationship‐specific inputs, and lowered exports...
Persistent link: https://www.econbiz.de/10010764593
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Credit constraints and productive entrepreneurship in Africa
Baliamoune-Lutz, Mina; Brixiova, Zuzana; Ndikumana, Leonce - 2011
that can be used as collateral. This paper presents a model where firm creation and growth hinge on matching potential … entrepreneurs with productive technologies, while firm growth depends on acquired capital. The shortage of collateral creates a ….g., the depth of credit information and the strength of legal rights pertaining to collateral and bankruptcy) would stimulate …
Persistent link: https://www.econbiz.de/10010282171
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A constitutional theory of the family
Cigno, Alessandro - 2005
The paper re-examines the idea that a family can be viewed as a community governed by a self-enforcing constitution, and extends existing results in two directions. First, it identifies circumstances in which a constitution is renegotiation-proof. Second, it introduces parental altruism. The...
Persistent link: https://www.econbiz.de/10010267482
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Personal bankruptcy law, wealth and entrepreneurship: Theory and evidence from the introduction of a fresh start
Fossen, Frank M. - 2011
tend not to face higher interest rates because they provide collateral. This paper illustrates these effects in a model and …
Persistent link: https://www.econbiz.de/10010274553
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Debt portfolios
Hintermaier, Thomas; Koeniger, Winfried - 2011
the U.S. We then establish the quantitative result that home equity does not serve as informal collateral for unsecured …
Persistent link: https://www.econbiz.de/10010278362
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Firm Dynamics, Job Turnover, and Wage Distributions in an Open Economy
Cosar, A. Kerem; Guner, Nezih; Tybout, James - 2013
This paper explores the combined effects of reductions in trade frictions, tariffs, and firing costs on firm dynamics, job turnover, and wage distributions. It uses establishment-level data from Colombia to estimate an open economy dynamic model that links trade to job flows in a new way. The...
Persistent link: https://www.econbiz.de/10010329109
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Firm Dynamics and Residual Inequality in Open Economies
Felbermayr, Gabriel; Impullitti, Giammario; Prat, Julien - 2014
Increasing wage inequality between similar workers plays an important role for overall inequality trends in industrialized societies. To analyze this pattern, we incorporate directed labor market search into a dynamic model of international trade with heterogeneous firms and homogeneous workers....
Persistent link: https://www.econbiz.de/10010333335
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Comparative Advantage and Agglomeration of Economic Activity
Pflüger, Michael P.; Tabuchi, Takatoshi - 2016
The division of labor between and within countries is driven by two fundamental forces, comparative advantage and increasing returns. We set up a simple Ricardian model with a Marshallian input sharing mechanism to study their interplay. The key insight that emerges is that the interaction...
Persistent link: https://www.econbiz.de/10011559701
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Countering Public Opposition to Immigration: The Impact of Information Campaigns
Facchini, Giovanni; Margalit, Yotam; Nakata, Hiroyuki - 2016
Popular sentiment toward immigration is often antagonistic, making the integration of migrants one of the most important yet daunting challenges facing societies in advanced economies. Can information campaigns decrease public opposition to immigration? This paper reports results from a...
Persistent link: https://www.econbiz.de/10011653148