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Behrens, Kristian; Mion, Giordano - London School of Economics (LSE) - 2010

We provide an analysis of the 2008-2009 trade collapse using microdata from a small open economy,Belgium. First, we … than what we observe. Trade in consumer durables and capitalgoods fell more severely than trade in other product categories … reveal strong firm- or sector-specific patterns. Overall,our results point to a demand-side explanation: the fall in trade …

Persistent link: https://www.econbiz.de/10010744902

Does family control affect trade performance?: evidence for Italian firms

Navaretti, Giorgio Barba; Faini, Riccardo; Tucci, Alessandra - London School of Economics (LSE) - 2008

This paper examines whether the export decision of firms is affected by their ownership structure, specifically it looks at whether family control is an obstacle to entering foreign markets. The underlying assumption is that family firms are risk averse. Risk aversion may be an obstacle to...

Persistent link: https://www.econbiz.de/10010745788

Timeliness, trade and agglomeration

Harrigan, James; Venables, Tony - London School of Economics (LSE) - 2004

An important element of the cost of distance is time taken in delivering final and intermediate goods. We argue that time costs are qualitatively different from direct monetary costs such as freight charges. The difference arises because of uncertainty. Unsynchronised deliveries can disrupt...

Persistent link: https://www.econbiz.de/10010884687

Winners and losers from a commodities-for-manufactures trade boom

Costa, Francisco; Garred, Jason; Pessoa, João Paulo - London School of Economics (LSE) - 2014

A recent boom in commodities-for-manufactures trade between China and other developing countries has led to much …

Persistent link: https://www.econbiz.de/10011126579

Ex post versus ex ante measures of the user cost of capital

Oulton, Nicholas - London School of Economics (LSE) - 2005

When doing growth accounting, should we use ex post or ex ante measures of user costs to calculate the contribution of capital? The answer, based on a simple model of temporary equilibrium, is that ex post is better in theory. In practice researchers usually calculate ex post user costs by...

Persistent link: https://www.econbiz.de/10010745052

Qualified majority voting explained

Felsenthal, Dan S.; Machover, Moshé - London School of Economics (LSE) - 2004

We explain the issue of the decision rule of the EU's Council of Ministers. We outline, in as non-technical fashion as we can, the mathematical theory (due to L S Penrose) that addresses this sort of issue. We assess the decision rule prescribed in the Nice Treaty as well as that included in the...

Persistent link: https://www.econbiz.de/10010746113

Aggregation of simple linear dynamics: exact asymptotic results

Lippi, Marco; Zaffaroni, Paolo - London School of Economics (LSE) - 1998

his paper deal with aggregation of AR(1) micro variables driven by a common and idiosyncratic shock with random coefficients. We provide a rigorous analysis, based on results on sums of r.v.'s with a possibly finite first moment, of the aggregate variance and spectral density, as the number of...

Persistent link: https://www.econbiz.de/10010746139

Contemporaneous aggregation of GARCH processes

Zaffaroni, Paolo - London School of Economics (LSE) - 2000

We study the impact of large cross-sections of contemporaneous aggregation of GARCH processes and of dynamic GARCH factor models. The results crucially depend on the shape of the cross-sectional distribution of the GARCH coefficients and on the cross-sectional dependence properties of the...

Persistent link: https://www.econbiz.de/10010746556

The wealth and poverty of nations: true PPPs for 141 countries

Oulton, Nicholas - London School of Economics (LSE) - 2011

I set out a new method for estimating true (Konüs) PPPs. Household consumption per head deflated by these PPPs answers the question: by how much must the average expenditure per head of poor country A be increased to enable the typical inhabitant of A to enjoy the same utility level as the...

Persistent link: https://www.econbiz.de/10011071065

Chain indices of the cost of living and the path-dependence problem: an empirical solution

Oulton, Nicholas - London School of Economics (LSE) - 2007

This paper proposes an empirically feasible method for correcting the path-dependence bias of chain indices of the cost of living. Chain indices are discrete approximations to Divisia indices and it is well known that the latter are path-dependent: the level of a Divisia index is affected not...

Persistent link: https://www.econbiz.de/10011071070

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