Narrow search
Showing 1 - 10 of 179
Cover Image
Globalization of Equity Markets and the Cost of Capital
Stulz, René M. - 2014
prediction that globalization decreases the cost of capital, but the documented effects are lower than theory leads us to expect …
Persistent link: https://www.econbiz.de/10013069163
Cover Image
Export or Merge? Proximity vs. Concentration in Product Space
Muendler, Marc-Andreas - 2013
This paper proposes a proximity-concentration tradeoff in product space as a determinant of horizontal foreign direct investment (FDI). Firms that enter a foreign market by exporting are able to capture consumer surplus from introducing a differentiated product with characteristics that the...
Persistent link: https://www.econbiz.de/10013071518
Cover Image
Globalization and Wage Inequality
Helpman, Elhanan - 2016
Globalization has been blamed for rising inequality in rich and poor countries. Yet the views of many protagonists in this debate are not based on evidence. To help form an evidence-based opinion, I review in this paper the theoretical and empirical literature on the relationship between...
Persistent link: https://www.econbiz.de/10012977276
Cover Image
Global Value Chains and Effective Exchange Rates at the Country-Sector Level
Patel, Nikhil - 2014
The real effective exchange rate (REER) is one of the most cited statistical constructs in open-economy macroeconomics. We show that the models used to compute these numbers are not rich enough to allow for the rising importance of global value chains. Moreover, because different sectors within...
Persistent link: https://www.econbiz.de/10013052107
Cover Image
The Mckibbin-Sachs Global Model : Theory and Specifications
McKibbin, Warwick J.; Sachs, Jeffrey D. - 2021
This paper presents the theoretical underpinnings of the MSG2 simulation model of the world economy. The MSG2 model is … a dynamic general equilibrium model of the world economy which pays particular attention to the relation between stocks … version presented here the world is divided into the U.S., Japan, Germany, the rest of the EMS, and the rest of the OECD, non …
Persistent link: https://www.econbiz.de/10013222617
Cover Image
Crises and Sudden Stops : Evidence from International Bond and Syndicated-Loan Markets
Kaminsky, Graciela - 2021
The crises in Mexico, Thailand, and Russia in the 1990s spread quite rapidly to countries as far apart as South Africa and Pakistan. In the aftermath of these crises, many emerging economies lost access to international capital markets. Using data on international primary issuance, this paper...
Persistent link: https://www.econbiz.de/10013224423
Cover Image
Globalization, Returns to Accumulationa and the World Distribution of Output
Beaudry, Paul; Collard, Fabrice - 2021
This paper examines the extent to which the process of globalization can explain the observed widening in the cross--country distribution of output--per--worker. In particular examine whether the opening up of trade in a Hecksher--Ohlin type model of trade can explain the observed changes. On...
Persistent link: https://www.econbiz.de/10013248275
Cover Image
The Global Velocity Curve 1952-1982
Bordo, Michael D.; Jonung, Lars - 2021
cross country comparison in the post World War II period of 84 countries arrayed from very low to very high per capita …
Persistent link: https://www.econbiz.de/10013244126
Cover Image
Global Supply Chains, Currency Undervaluation, and Firm Protectionist Demands
Jensen, J. Bradford - 2013
We examine firm participation in global supply chains to help explain a puzzling decline in protectionist demands in the U.S. despite increased import competition and ongoing currency undervaluation. To explain firm responses to undervaluation, we rely on advances in the international trade...
Persistent link: https://www.econbiz.de/10013078827
Cover Image
Globalization, Governance, and the Returns to Cross-Border Acquisitions
Ellis, Jesse A. - 2011
Using a sample of control cross-border acquisitions from 61 countries from 1990 to 2007, we find that acquirers from countries with better governance gain more from such acquisitions and their gains are higher when targets are from countries with worse governance. Other acquirer country...
Persistent link: https://www.econbiz.de/10013131665