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This paper reexamines the evidence on the border effect, the finding that the border drives a wedge between domestic and foreign prices. We argue that the border effect can be inflated by the volatility and persistence of the nominal exchange rate and by the cross-country heterogeneity in the...
Persistent link: https://www.econbiz.de/10005551426
We study the impact of the increase in trade in manufacturing on the synchonization of international business cycles
Persistent link: https://www.econbiz.de/10005069589
Persistent link: https://www.econbiz.de/10005027216
Countries that are more engaged in production sharing exhibit higher bilateral manufacturing output correlations. We use data on trade flows between US multinationals and their affiliates as well as trade between the United States and Mexican maquiladoras to measure production-sharing trade and...
Persistent link: https://www.econbiz.de/10005182388
Two common views are that a country cannot develop without a strong manufacturing base and that trade restrictions are essential to facilitate the development of that strong manufacturing base and thus spur economic growth. We ask: <ul><li>Does a strong manufacturing share of GDP facilitate economic...</li></ul>
Persistent link: https://www.econbiz.de/10010970435
This paper uses a database covering the universe of French firms for the period 1990-2007 to provide a forensic account of the role of individual firms in generating aggregate fluctuations. We set up a simple multi-sector model of heterogeneous firms selling to multiple markets to motivate a...
Persistent link: https://www.econbiz.de/10010970436
Persistent link: https://www.econbiz.de/10005357153
Persistent link: https://www.econbiz.de/10005357154
Persistent link: https://www.econbiz.de/10005357155
In this paper, we first describe the characteristics of the World Trade Organization (WTO) that are the basis of the framework of the multilateral trading system. We then provide an overview of concepts of fairness in trade agreements. Thereafter, we offer a critique of the efficiency criterion...
Persistent link: https://www.econbiz.de/10005357156