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Economic Integration and the Transmission of Democracy
Magistretti, Giacomo; Tabellini, Marco - National Bureau of Economic Research - 2022
In this paper, we study if exposure to the institutions of trade partners changes individuals' attitudes towards democracy and favors the process of democratization. We combine survey data with country-level measures of democracy from 1960 to 2015, and exploit the improvement in air, relative to...
Persistent link: https://www.econbiz.de/10013210083
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Currency Areas, Labor Markets, and Regional Cyclical Sensitivity
Russ, Katheryn Niles; Shambaugh, Jay C.; Singh, Sanjay R. - National Bureau of Economic Research - 2023
In his papers during the lead up to the birth of the European Monetary Union, Obstfeld considered whether the countries forming the EMU were sufficiently similar to survive a single monetary policy--and more importantly, whether they had the capacity to adjust to asymmetric shocks given a single...
Persistent link: https://www.econbiz.de/10014337753
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Sovereign Default Risk and Bank Fragility in Financially Integrated Economies
Bolton, Patrick - 2011
We analyze contagious sovereign debt crises in financially integrated economies. Under financial integration banks … optimally diversify their holdings of sovereign debt in an effort to minimize the costs with respect to an individual country …'s sovereign debt default. While diversification generates risk diversification benefits ex ante, it also generates contagion ex …
Persistent link: https://www.econbiz.de/10012461758
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Melitz Meets Lewis : The Impacts of Roads on Structural Transformation and Businesses
Kaboski, Joseph Paul; Lu, Jianyu; Qian, Wei; Ren, Lixia - National Bureau of Economic Research - 2024
This paper examines the impact of roads on structural transformation and business composition theoretically and empirically. We develop a two-sector model of regional trade with endogenous firm entry that highlights two opposing forces. \textit{Ceteris paribus} lower trade costs in...
Persistent link: https://www.econbiz.de/10014544726
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Post-Neoliberal Globalization : International Trade Rules for Global Prosperity
Guzman, Martín; Stiglitz, Joseph E. - National Bureau of Economic Research - 2024
This paper analyzes frameworks for the design of the rules for international trading, assuming that it is possible to have some rule of law. In the Arrow-Debreu benchmark, where there is no economic power and political power is seemingly irrelevant, there is no need for trade agreements - free...
Persistent link: https://www.econbiz.de/10014576561
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Dynamic Models, New Gains from Trade?
Boehm, Christoph E.; Levchenko, Andrei A.; … - National Bureau of Economic Research - 2024
Yes. We state closed-form expressions for steady state gains from trade that apply in a class of dynamic trade models that includes dynamic versions of the Krugman (1980), Melitz (2003), and customer capital (e.g., Arkolakis, 2010) models. The gains are a function of the domestic trade share and...
Persistent link: https://www.econbiz.de/10014576594
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Exploring European Regional Trade
Santamaría, Marta A.; Ventura, Jaume; Yeşilbayraktar, … - National Bureau of Economic Research - 2023
We use the new dataset of trade flows across 269 European regions in 24 countries constructed in Santamaría et al. (2020) to systematically explore for the first time trade patterns within and across country borders. We focus on the differences between home trade, country trade and foreign...
Persistent link: https://www.econbiz.de/10014247958
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Supply Chain Risk : Changes in Supplier Composition and Vertical Integration
Ersahin, Nuri; Giannetti, Mariassunta; Huang, Ruidi - National Bureau of Economic Research - 2023
Using textual analysis of earnings conference calls, we quantify firms' supply chain risk and its sources. Our proxy for supply chain risk exhibits large cross-sectional and time-series variation that aligns with reasonable priors and is unprecedently high during the Covid-19 pandemic. In...
Persistent link: https://www.econbiz.de/10014250152
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How Far Goods Travel : Global Transport and Supply Chains from 1965-2020
Ganapati, Sharat; Wong, Woan Foong - National Bureau of Economic Research - 2023
This paper considers the evolution of global transportation usage over the past half century and its implications for supply chains. Transportation usage per unit of real output has more than doubled as costs decreased by a third. Participation of emerging economies in world trade and...
Persistent link: https://www.econbiz.de/10014250184
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Horses for Courses : Measuring Foreign Supply Chain Exposure
Baldwin, Richard E.; Freeman, Rebecca; … - National Bureau of Economic Research - 2022
Perceptions of global supply chains (GSCs) have shifted in recent years from a positive to a more cautious view. Standard GSC measures have mostly not adapted to this change as they focus on participation in, rather than exposure to, foreign supply chains. This paper presents the tools necessary...
Persistent link: https://www.econbiz.de/10013388881