Auf seiner letzten Jahrestagung hat sich der Verein für Socialpolitik mit einem der zentralen Zukunftsthemen der europäischen Wirtschaftspolitik auseinandergesetzt: Die Osterweiterung der Europäischen Union. Der Vorsitzende des Vereins, Hans-Werner Sinn, greift in seiner Eröffnungsrede die...

We use Spanish firm-level data to test the hold-up model of global sourcing proposed by Antr s & Helpman (2004). We propose a novel representation of the model which guides us in bringing the theory to the data. We estimate a discrete choice model of firms' sourcing behavior, separately for the...

Recent decades have seen a fragmentation of production processes across borders, as firms find it increasingly profitable to organize production on a global scale. This fragmentation occurs across national borders as well as across firm boundaries; companies must decide not only the location of...

In the 2000s, China's WTO entry constituted a major trade shock. In this paper, we analyze its eff ects on trade and value chains. The fragmentation of the global value chain makes it hard to disentangle who produces for whom. Value added trade contains this information. We build a multi-sector...

In this paper we analyze the impact of public export credit guarantees on firms' exports. Earlier studies show that export credit guarantees stimulate exports, employment, and value added. Furthermore, there is evidence at the aggregate level that financial market imperfections are key to...