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Exporters and Shocks : Dissecting the International Elasticity Puzzle
Fitzgerald, Doireann - 2014
We use micro data for Ireland to estimate how export participation and the export revenue of incumbent exporters … that tariffs are much more predictable than real exchange rates can explain why export revenue responds so much more to …
Persistent link: https://www.econbiz.de/10013056867
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Gravity and Comparative Advantage : Estimation of Trade Elasticities for the Agricultural Sector
Heerman, Kari - 2018
In this paper, a structural gravity model is presented which features intra-sector heterogeneity in agricultural productivity systematically linked to land and climate characteristics. The “systematic heterogeneity” (SH) gravity model predicts that countries with similar land and climate...
Persistent link: https://www.econbiz.de/10012915644
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Doomed to Deficits? Aggregate U.S. Trade Flows Re-Examined
Chinn, Menzie David - 2021
This paper examines the stability of import and export demand functions for the United States over the 1975q1-2001q2 … period. Using the Johansen maximum likelihood approach, an export demand function is readily identified. In contrast, there … cointegration, although the price elasticity is not statistically significant. Only when excluding computers and parts from the …
Persistent link: https://www.econbiz.de/10013220385
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The Global Spatial Distribution of Economic Activity : Nature, History, and the Role of Trade
Henderson, J. Vernon - 2016
We study the distribution of economic activity, as proxied by lights at night, across 250,000 grid cells of average area 560 square kilometers. We first document that nearly half of the variation can be explained by a parsimonious set of physical geography attributes. A full set of country...
Persistent link: https://www.econbiz.de/10012994896
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Capital Goods Imports and Long-Run Growth
Lee, Jong-Wha - 2021
This paper presents an endogenous growth model of an open economy in which the growth rate of income is higher if foreign capital goods are used relatively more than domestic capital goods for the production of capital stock. Empirical results, using cross country data for the period 1960-85,...
Persistent link: https://www.econbiz.de/10013225824
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Openness and Growth : A Time-Series, Cross-Country Analysis for Developing Countries
Harrison, Ann E. - 2021
This paper draws together a variety of openness measures to test the association between openness and growth. Although the correlation across different types of openness is not always strong, there is generally a positive association between growth and different measures of openness. The...
Persistent link: https://www.econbiz.de/10013234356
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Current Account Adjustment : Some New Theory and Evidence
Ju, Jiandong - 2010
This paper aims to provide a theory of current account adjustment that generalizes the textbook version of the … that are consistent with the theory …
Persistent link: https://www.econbiz.de/10012759847
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Optimal Reserves in Financially Closed Economies
Jeanne, Olivier - 2016
Financially closed economies insure themselves against current-account shocks using international reserves. We characterize the optimal management of reserves using an open-economy model of precautionary savings and emphasize several results. First, the welfare-based opportunity cost of reserves...
Persistent link: https://www.econbiz.de/10012995514
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Excess Savings and Twin Deficits : The Transmission of Fiscal Stimulus in Open Economies
Aggarwal, Rishabh; Auclert, Adrien; Rognlie, Matthew; … - 2022
We study the effects of debt-financed fiscal transfers in a general equilibrium, heterogeneous-agent model of the world economy. In the long run, increases in government debt anywhere raise the world interest rate and increase private wealth everywhere. In the short run, a country with a...
Persistent link: https://www.econbiz.de/10014081636
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The Surprising Instability of Export Specializations
Daruich, Diego - 2016
surprisingly unstable: Export ranks are not persistent, and new top products and destinations replace old ones. Measurement error … of this instability: Only 20% of the variation in export growth can be explained by variation in comparative advantage … (source-by-product factors), while another 20% of the variation in export growth can be explained by variation in bilateral …
Persistent link: https://www.econbiz.de/10012978517