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Ito, Takatoshi; Ogawa, Eiji; Sasaki, Yuri Nagataki - 2021

Japanese and US firms in their markets. The duopoly model is used to determine export prices and volumes in response to the … fluctuation of the growth rate of trade balance is derived. These are the novel features of our model. The export price equation … and export volume equation are estimated for several Asian countries for the sample period of 1981 to 1996. Results are …

Persistent link: https://www.econbiz.de/10013226986

Instrumental Variables and Causal Mechanisms : Unpacking the Effect of Trade on Workers and Voters

Dippel, Christian - 2017

Instrumental variables (IV) are a common means to identify treatment effects. But standard IV methods do not allow us to unpack the complex treatment effects that arise when a treatment and its outcome together cause a second outcome of interest. For example, IV methods have been used to show...

Persistent link: https://www.econbiz.de/10012960515

Measuring the Intensity of Competition in Export Markets

Goldberg, Pinelopi; Knetter, Michael M. - 2021

This paper develops an approach to measuring the intensity of competition in international markets. The method measures the degree of 'outside' competition faced by exporters located in one source country from firms located outside the source country. We use the elasticity of price and quantity...

Persistent link: https://www.econbiz.de/10013233435

Product Mix and Firm Productivity Responses to Trade Competition

Mayer, Thierry - 2016

We document how demand shocks in export markets lead French multi-product exporters to re-allocate the mix of products … sold in those destinations. In response to positive demand shocks, those French firms skew their export sales towards their … competition from demand shocks in export markets – and the induced product mix reallocations – induce productivity changes within …

Persistent link: https://www.econbiz.de/10012986299

Trade Integration and Risk Sharing

Kraay, Aart; Ventura, Jaume - 2021

What are the effects of increased trade in goods and services on the trade balance? We study the effects of reducing transport costs in a Ricardian model with complete asset markets. Trade integration has three effects on the structure of the economy: a reduction in the home bias in consumption,...

Persistent link: https://www.econbiz.de/10013218506

Oil Prices, Welfare and the Trade Balance : An Intertemporal Approach

Svensson, Lars E. O. - 2021

The paper examines welfare effects and the trade balance response to changes in the world oil prices and interest rates for a small oil-importing economy. The trade balance is mainly seen as the difference between saving and investment, and these are derived from intertemporal optimization. It...

Persistent link: https://www.econbiz.de/10013239392

Dynamics of the Trade Balance and the Terms of Trade : the S-Curve

Backus, David K.; Kehoe, Patrick J.; Kydland, Finn - 2021

We provide a theoretical interpretation of two features of international data: the countercyclical movements in net exports and the tendency for the trade balance to be negatively correlated with current and future movements in the terms of trade, but positively correlated with past movements....

Persistent link: https://www.econbiz.de/10013248695

Do Low-Income Countries Have a High-Wage Option?

Rodrik, Dani - 2010

Poor countries must specialize in standardized. labor-intensive commodities. Middle income countries may have a richer menu of options available to them if their labor force is reasonably well-educated and skilled. This paper is motivated by the possibility that there may exist multiple...

Persistent link: https://www.econbiz.de/10013138621

New Directions for Stochastic Open Economy Models

Obstfeld, Maurice; Rogoff, Kenneth - 2021

The paper develops a simple stochastic new open economy macroeconomic model based on sticky nominal wages. Explicit solution of the wage-setting problem under uncertainty allows one to analyze the effects of the monetary regime on welfare, expected output, and the expected terms of trade....

Persistent link: https://www.econbiz.de/10013221940

Imported Materials Prices, Wage Policy, and Macroeconomic Stabilization

Marston, Richard C.; Turnovsky, Stephen J. - 2021

This paper analyzes two simple wage rules that keep employment constant when there are shocks to the prices of imported materials. One rule ties nominal wages to the GNP deflator rather than the consumer price index. The second rule, followed by Japan after the second oil price shock, ties the...

Persistent link: https://www.econbiz.de/10013312509

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