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Aspects of Global Economic Intergration: Outlook for the Future

Feldstein, Martin S. - National Bureau of Economic Research (NBER) - 2000

This paper comments on five aspects of globalization: (1) the gains from international flows of goods and capital; (2) the role of foreign direct investment and reasons for its increase; (3) the preventions and management of currency crises; (4) the fluctuation of relative currency values; and...

Persistent link: https://www.econbiz.de/10005718679

The Core-Periphery Model with Forward-Looking Expectations

Baldwin, Richard - National Bureau of Economic Research (NBER) - 1999

The 'core-periphery model' is vitiated by its assumption of static expectations. That is, migration (inter-regional or intersectoral) is the key to agglomeration, but migrants base their decision on current wage differences alone--even though migration predictably alters wages and workers are...

Persistent link: https://www.econbiz.de/10005718750

Scale Economies and the Geographic Concentration of Industry

Hanson, Gordon - National Bureau of Economic Research (NBER) - 2000

In recent empirical literature on spatial agglomeration, many papers find evidence consistent with location-specific externalities of some sort. Our willingness to accept evidence of agglomeration economies depends on how well key estimation problems have been addressed. Three issues are...

Persistent link: https://www.econbiz.de/10005718915

Foreign Firms, Domestic Wages

Markusen, James R.; Malchow-Møller, Nikolaj; … - National Bureau of Economic Research (NBER) - 2007

Foreign-owned firms are often hypothesized to generate productivity "spillovers" to the host country, but both …-ante identical workers learn from their employers in proportion to the firm?s productivity. Foreign-owned firms have, on average …, higher productivity in equilibrium due to entry costs, which means that low-productivity foreign firms cannot enter. Foreign …

Persistent link: https://www.econbiz.de/10005720025

Economic Insecurity and the Globalization of Production

Scheve, Kenneth; Slaughter, Matthew - National Bureau of Economic Research (NBER) - 2002

A common claim in debates about globalization is that economic integration increases worker insecurity. Although this idea is central to both political and academic debates about international economic integration, the theoretical basis of the claim is often not clear. There is also no empirical...

Persistent link: https://www.econbiz.de/10005720119

Cheap Labor Meets Costly Capital: The Impact of Devaluations on Commodity Firms

Forbes, Kristin - National Bureau of Economic Research (NBER) - 2002

This paper examines how devaluations affect the relative costs of labor and capital and therefore influence production, profitability, investment, and stock returns for firms in the 'crisis' country as well as competitors in the rest of the world. After developing these ideas in a small,...

Persistent link: https://www.econbiz.de/10005720203

Reserve Uncertainty and the Supply of International Credit

Aizenman, Joshua; Marion, Nancy P. - National Bureau of Economic Research (NBER) - 1999

This paper examines how increased uncertainty about an emerging market's international reserves affects the willingness of foreign investors to supply international credits. We illustrate the relevance of this concern for South Korea during the recent financial crisis. Using available...

Persistent link: https://www.econbiz.de/10005720414

Trade, FDI, and the Organization of Firms

Helpman, Elhanan - National Bureau of Economic Research (NBER) - 2006

New developments in the world economy have triggered research designed to better understand the changes in trade and investment patterns, and the reorganization of production across national borders. Although traditional trade theory has much to offer in explaining parts of this puzzle, other...

Persistent link: https://www.econbiz.de/10005720530

The Cross Border Mergers and Acquisitions Wave of the Late 1990s

Evenett, Simon J. - National Bureau of Economic Research (NBER) - 2003

To establish a benchmark, the cross border mergers and acquisitions wave of the late 1990s is compared to its predecessor in the late 1980s. It is found to be at least five times larger (in real terms), to involve firms from more OECD nations, and to include many more service sector...

Persistent link: https://www.econbiz.de/10005720670

Welfare Migration: Is the Net Fiscal Burden a Good Measure of Its Economic Impact on the Welfare of the Native Born Population?

Razin, Assaf; Sadka, Efraim - National Bureau of Economic Research (NBER) - 2004

Migration of young workers (as distinct from retirees), even when driven in by the generosity of the welfare state, slows down the trend of increasing dependency ratio. But, even though low-skill migration improves the dependency ratio, it nevertheless burdens the welfare state. Recent studies...

Persistent link: https://www.econbiz.de/10005720776