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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

Competitors, Complementors, Parents and Places : Explaining Regional Agglomeration in the U.S. Auto Industry

Cabral, Luis M. B. - 2018

Taking the early U.S. automobile industry as an example, we evaluate four competing hypotheses on regional industry agglomeration: intra-industry local externalities, inter-industry local externalities, employee spinouts, and location fixed-effects. Our findings suggest that inter-industry...

Persistent link: https://www.econbiz.de/10012937840

Complementarities and Comovements

Shea, John - 2021

Short-run interindustry comovement may be due either to common shocks or to complementarities that propagate shocks across sectors. This paper assesses the importance of input-output linkages, aggregate activity spillovers, and local activity spillovers to comovement in postwar US manufacturing....

Persistent link: https://www.econbiz.de/10013221096

Defining Clusters of Related Industries

Delgado, Mercedes - 2015

Clusters are geographic concentrations of industries related by knowledge, skills, inputs, demand, and/or other linkages. A growing body of empirical literature has shown the positive impact of clusters on regional and industry performance, including job creation, patenting, and new business...

Persistent link: https://www.econbiz.de/10013032877

The Network Origins of Large Economic Downturns

Acemoglu, Daron - 2013

This paper shows that large economic downturns may result from the propagation of microeconomic shocks over the input-output linkages across different firms or sectors within the economy. Building on the framework of Acemoglu et al. (2012), we argue that the economy's input-output structure can...

Persistent link: https://www.econbiz.de/10013078828

Microeconomic Origins of Macroeconomic Tail Risks

Acemoglu, Daron - 2015

We document that even though the normal distribution provides a good approximation to GDP fluctuations, it severely underpredicts “macroeconomic tail risks,” that is, the frequency of large economic downturns. Using a multi-sector general equilibrium model, we show that the interplay of...

Persistent link: https://www.econbiz.de/10013030060

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

Spiders and Snakes : Offshoring and Agglomeration in the Global Economy

Baldwin, Richard - 2011

Global production sharing is determined by international cost differences and frictions related to the costs of unbundling stages spatially. The interaction between these forces depends on engineering details of the production process with two extremes being 'snakes' and 'spiders'. Snakes are...

Persistent link: https://www.econbiz.de/10013132069

Cape Verde and Mozambique as Development Successes in West and Southern Africa

Braga de Macedo, Jorge - 2010

This paper applies an interpretation of how globalization and governance (G&G) interact with convergence given Cape … Verde and Mozambique's particular geographical and historical contexts. We hold that development success under globalization … diversification (an indicator of globalization) and income convergence (an indicator of governance) in the sub-regions of West and …

Persistent link: https://www.econbiz.de/10013135763

Globalization, Technology, and the Skill Premium : A Quantitative Analysis

Burstein, Ariel T. - 2010

We construct a model of international trade and multinational production (MP) to examine the impact of globalization on …

Persistent link: https://www.econbiz.de/10013137021

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