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Capital Controls on Outflows : New Evidence and a Theoretical Framework
Chang, Roberto; Fernández, Andrés; Martinez, Humberto - National Bureau of Economic Research - 2024
We study capital controls on outflows (CCOs) in situations of macroeconomic and financial distress. We present novel empirical evidence indicating that CCO implementation is associated with crises and declines in GDP growth. We then develop a theoretical framework that is consistent with such...
Persistent link: https://www.econbiz.de/10015056204
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Return Migration and Human Capital Flows
Amanzadeh, Naser; Kermani, Amir; McQuade, Timothy - National Bureau of Economic Research - 2024
study return migration and the impact of skilled international migration on human capital stocks across countries. Return … migration is a common phenomenon, with 38% of skilled migrants returning to their origin countries within 10 years. Return … migration is significantly correlated with industry growth in the origin and destination countries, and is asymmetrically …
Persistent link: https://www.econbiz.de/10014528391
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Tax Policy and Investment in a Global Economy
Chodorow-Reich, Gabriel; Smith, Matthew; Zidar, Owen M.; … - National Bureau of Economic Research - 2024
We evaluate the 2017 Tax Cuts and Jobs Act. Combining reduced-form estimates from tax data with a global investment model, we estimate responses, identify parameters, and conduct counterfactuals. Domestic investment of firms with the mean tax change increases 20% versus a no-change baseline. Due...
Persistent link: https://www.econbiz.de/10014512034
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Regime Changes and FDI : A Tale of Two Countries – Poland and Israel
Razin, Asaf; Cieślik, Andrzej - National Bureau of Economic Research - 2024
This essay highlights the effects of radical transformations in the liberal characteristics of the regimes on foreign direct investors. To focus on the common patterns in the effects on foreign direct investment, of liberal vs. illiberal regime change, the essay spotlights the tale of two...
Persistent link: https://www.econbiz.de/10014576643
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FDI and Superstar Spillovers : Evidence from Firm-to-Firm Transactions
Amiti, Mary; Duprez, Cédric; Konings, Jozef; Van … - National Bureau of Economic Research - 2023
Despite competition concerns over the increasing dominance of global corporations, many argue that productivity spillovers from multinationals to domestic firms justify pro- FDI policies. For the first time, we use firm-to-firm transaction data in a developed country to examine the impact of...
Persistent link: https://www.econbiz.de/10014250146
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Foreign Technology Adoption as a Flying Propeller
Hu, Yunfang; Kunieda, Takuma; Nishimura, Kazuo; Wang, Ping - National Bureau of Economic Research - 2023
, can propel an economy to exhibit a flying geese paradigm escaping from a middle-income trap and catching up with the world …
Persistent link: https://www.econbiz.de/10014250176
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Climate Risks and FDI
Gu, Grace Weishi; Hale, Galina - National Bureau of Economic Research - 2022
Climate-related risks have increased in recent decades, both in terms of the frequency of extreme weather events (physical risk) and implementation of climate-change mitigation policies (transition risk). This paper explores whether multinational firms react to such risks by altering their...
Persistent link: https://www.econbiz.de/10013388808
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Combinatorial Discrete Choice : A Quantitative Model of Multinational Location Decisions
Arkolakis, Costas; Eckert, Fabian; Shi, Rowan - National Bureau of Economic Research - 2023
We introduce a general quantifiable framework to study the location decisions of multinational firms. In the model, firms choose in which locations to pay the fixed costs of setting up production, taking into account potential complementarities among production locations. The firm's location...
Persistent link: https://www.econbiz.de/10014437008
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Risk-On Risk-Off : A Multifaceted Approach to Measuring Global Investor Risk Aversion
Chari, Anusha; Stedman, Karlye Dilts; Lundblad, Christian - National Bureau of Economic Research - 2023
This paper defines risk-on risk-off (RORO), an elusive terminology in pervasive use, as the variation in global investor risk aversion. Our high-frequency RORO index captures time-varying investor risk appetite across multiple dimensions: advanced economy credit risk, equity market volatility,...
Persistent link: https://www.econbiz.de/10014437038
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Immigrant Entrepreneurship : New Estimates and a Research Agenda
Chodavadia, Saheel; Pekkala Kerr, Sari; Kerr, William R.; … - National Bureau of Economic Research - 2024
Immigrants contribute disproportionately to entrepreneurship in many countries, accounting for a quarter of new employer businesses in the US. We review recent research on the measurement of immigrant entrepreneurship, the traits of immigrant founders, their economic impact, and policy levers....
Persistent link: https://www.econbiz.de/10014544679