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It is neither likely nor desirable for central banks to exit from unconventional monetary policies in the near future. However, it is important that central banks develop an exit strategy, evaluate the merits of new and old monetary policy tools and communicate with the public so as to maintain...
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We use unique plant-level data to study the link between the local availability of services and the decision of manufacturing firms to source materials from abroad. To guide our empirical analysis we develop a monopolistic competition model of the materials sourcing decisions of heterogeneous...
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-based explanation by focussing on international outsourcing. In a recent paper, Feenstra and Hanson (1996) estimate the effect of … international outsourcing on wage inequality in the US. This paper extends the FH approach using more detailed definitions of import … penetration and outsourcing as well as data for UK manufacturing industries for the period 1982-1996. The econometric results …
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