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This paper provides a general and unified framework to study the role of production networks in international GDP comovement. We first derive an additive decomposition of bilateral GDP comovement into components capturing shock transmission and shock correlation. We quantify this decomposition...
Persistent link: https://www.econbiz.de/10012867903
Most international commerce is carried out by multinational firms, which use their foreign affiliates both to serve the market of the host country and to export to other markets outside the host country. In this paper, I examine the determinants of multinational firms' location and production...
Persistent link: https://www.econbiz.de/10012992631
Within Japanese multinational firms, parent exports from Japan to a foreign region are positively related to production … in that region by affiliates of that parent, given the parent's home production in Japan and the region's size and income … level. This relationship is similar to that found for Swedish and U.S. multinationals in parallel studies. A Japanese parent …
Persistent link: https://www.econbiz.de/10012778835
In recent decades, growth of overall world trade has been driven in large part by the rapid growth of trade in intermediate inputs. Much of this input trade involves multinational firms locating input processing in their foreign affiliates, thereby creating global vertical production networks....
Persistent link: https://www.econbiz.de/10013218078
We quantify the macroeconomic effects of COVID-19 for emerging markets using a SIR-multisector-small open economy model and calibrating it to Turkey. Domestic infection rates feed into both sectoral supply and sectoral demand shocks. Sectoral demand shocks also incorporate lower external demand...
Persistent link: https://www.econbiz.de/10012833730
,' which are about 60 percent of world output. Given all the attention that 'globalization' has received from scholars …
Persistent link: https://www.econbiz.de/10013238944
Foreign-owned establishments in the United States pay higher wages, on average, than domestically-owned establishments. The foreign-owned establishments tend to be in higher-wage industries and also to pay higher wages within industries. They tend to locate in lower-wage states, but to pay more...
Persistent link: https://www.econbiz.de/10013222980
In recent years, international capital flows of all types have increased dramatically and most governments have been actively encouraging inflows of direct investment. However, concerns remain that reliance on foreign multinationals may be a risky development strategy as foreign firms are likely...
Persistent link: https://www.econbiz.de/10013224697
This paper considers the effect of taxation on the location of foreign direct investment (FDI) and taxable income reported by multinational firms with particular attention to the regional dynamics of tax competition and the role of chains of ownership. Confidential affiliate-level data are used...
Persistent link: https://www.econbiz.de/10013239947
Each of the world's largest retailers---Walmart, Carrefour, Tesco, and Metro---entered China after 1995. Their subsequent expansion in China may have influenced Chinese exports through two channels. First, they may have enhanced bilateral exports between the retailers' Chinese operations and...
Persistent link: https://www.econbiz.de/10013139132