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Cross-border mergers and acquisitions and the role of trade costs

Hijzen, Alexander; Görg, Holger; Manchin, Miriam - 2006

Cross-border mergers and acquisitions (M&As) have increased dramatically over the last two decades. This paper analyses the role of trade costs in explaining the increase in both the number and the value of cross-border mergers and acquisitions. In particular, we distinguish horizontal and...

Persistent link: https://www.econbiz.de/10010332952

The structure of ethnic networks and exports: Evidence from Germany

Behncke, Nadine - 2014

This paper provides evidence of the effect of immigration-based networks on German trade. Germany presents a particular interesting case study to examine the effect of ethnic networks on exports due to its high export dependence and its reserved migration policy. According to our results, we...

Persistent link: https://www.econbiz.de/10010334162

Shipment Frequency of Exporters and Demand Uncertainty

Békés, Gabor; Fontagné, Lionel Gérard; Murakozy, Balazs - 2014

Firms adjust to differences in market size and demand uncertainty by changing the frequency and size of their export shipments. In our inventory model, transportation costs and optimal shipment frequency are determined on the basis of demand as well as inventory and per shipments costs. Using a...

Persistent link: https://www.econbiz.de/10010352438

Quality and Gravity in International Trade

Flach, Lisandra; Unger, Florian - 2016

trade and derives implications for the gravity equation. The model predicts that the effect of fixed costs on exports and on … aggregate trade data and firm-level data to estimate gravity equations and find strong evidence for a dampening effect of …

Persistent link: https://www.econbiz.de/10011555522

The impact of trade and technology on wage components

Borrs, Linda; Knauth, Florian - 2016

We use a large sample of German workers to analyze the effect of low-wage competition with China and Eastern Europe (the East) on the wage structure within German manufacturing industries. Utilizing the method by Abowd et al. (1999), we decompose wages into firm and worker components. We find...

Persistent link: https://www.econbiz.de/10011572559

On the Widely Differing Effects of Free Trade Agreements: Lessons from Twenty Years of Trade Integration

Baier, Scott L.; Yotov, Yoto V.; Zylkin, Thomas - 2016

We develop a novel two-stage methodology that allows us to study the empirical determinants of the ex post effects of past free trade agreements (FTAs) as well as obtain ex ante predictions for the effects of future FTAs. We first identify 908 unique estimates of the effects of FTAs on different...

Persistent link: https://www.econbiz.de/10011584873

Trade effects of the euro: evidence from sectoral data

Baldwin, Richard E.; Skudelny, Frauke; Taglioni, Daria - 2005

This paper contributes to the literature on the impact of EMU on trade, adding two new elements. First, we propose a theoretical model for explaining how the euro could have increased trade by the large amounts found in the empirical literature. Second, we propose a sectoral dataset to test the...

Persistent link: https://www.econbiz.de/10011604492

The pecking order of cross-border investment

Daude, Christian; Fratzscher, Marcel - 2006

Is there a pecking order of cross-border investment in that countries become financially integrated primarily through some types of investment rather than others? Using a novel database of bilateral capital stocks for all types of investment – FDI, portfolio equity securities, debt securities...

Persistent link: https://www.econbiz.de/10011604636

Gravity chains: estimating bilateral trade flows when parts and components trade is important

Baldwin, Richard; Taglioni, Daria - 2011

added flows. This fact has important implications for the estimation of the gravity equation. We present empirical evidence … that the standard gravity equation performs poorly by some measures when it is applied to bilateral flows where parts and … components trade is important. We also provide a simple theoretical foundation for a modified gravity equation that is suited to …

Persistent link: https://www.econbiz.de/10011605446

Trade, finance or policies: what drives the cross-border spill-over of business cycles?

Montinari, Letizia; Stracca, Livio - 2017

In this paper we investigate how income growth rates in one country are affected by growth rates in partner countries, testing for the importance of pairwise country links as well as characteristics of the receiving country (trade and financial openness, exchange rate regime, fiscal variables)....

Persistent link: https://www.econbiz.de/10011606038