共查询到20条相似文献,搜索用时 31 毫秒
1.
Martyn Andrews Lutz Bellmann Thorsten Schank Richard Upward 《Review of World Economics》2009,145(2):293-317
We provide the first estimates of the effect of foreign ownership on wages in Germany, controlling for the observed and unobserved
characteristics of workers and plants. We also test whether the wage gains from joining a foreign-owned firm are subsequently
lost when leaving that firm, and we examine whether wage gains vary across the sample. We find large selection effects in
terms of worker and plant components of wages. Once the selection effect is taken into account, the takeover effect is small
and in some cases insignificantly different from zero.
相似文献
Richard UpwardEmail: |
2.
James Peoples 《The Review of Black Political Economy》2009,36(1):1-6
Efforts by public and private institutions to increase the number of minorities participating in graduate economics programs
has contributed to a growing supply of Ph. D. trained minority economists. However, minorities are still under-represented
as faculty members in economics departments. This presidential address explores whether the concentration of minorities in
a few fields of specialization creates a demand-supply mismatch for these individuals.
相似文献
James PeoplesEmail: |
3.
Theoretical durable-goods models suggest that a monopolist will prefer to lease rather than sell units of output due to the
seller’s commitment problem with potential buyers. However, many monopolistic durable-goods manufactures are commonly observed
simultaneously leasing and selling output. We provide a theoretical rationale for this observed behavior in firms engaged
in trade with a foreign country. In a simple two-period setting we show that a foreign durable-goods monopolist will concurrently
lease and sell output if the expected future exchange rate is lower than the current rate. With this concurrent strategy the
firm earns higher profit than a pure rental or sales regime. Additionally, our model provides additional theoretical underpinnings
for the empirical finding that increases in expected future exchange rates increase the current sales price of durable products.
Finally, our analysis examines the role of product durability in determining exchange rate pass-though to domestic prices.
相似文献
Michael K. Pippenger (Corresponding author)Email: |
4.
Giovanni Ganelli 《Open Economies Review》2008,19(2):241-259
This paper studies the domestic and international effects of “public competition policies” aimed at improving the efficiency
of public spending. Such measures are modeled as an increase in the price elasticity of public consumption. The paper finds
that public competition policies significantly affect macroeconomic interdependence across countries, both through the impact
of the international elasticity of substitution and of mark-up effects. The paper also develops an extension in which fiscal
shocks are stochastic. In welfare terms, countries with a larger government sector have an incentive to promote global public
competition policies regardless of whether fiscal policy is modeled as deterministic or stochastic.
相似文献
Giovanni GanelliEmail: |
5.
The paper investigates the choice of government to offer a grant to a potential entrant aimed at reducing its fixed cost of
entry when a monopoly firm provides the needed pharmaceutical drug given the prevalence path of the disease in a dynamic economic
framework. The results of present study suggest that government can use a grant to credibly threaten the entry of a new firm
into the industry and to promote limit-output pricing by the incumbent firm. The paper therefore suggests that the government
policy set includes subsidizing the potential entry of a new firm into an industry manufacturing pharmaceutical drugs for
the treatment of a communicable disease. Clearly, foreign aid could also be used as a source of this credible threat. The
study also extends the paper by Mechoulan (2007) through the introduction of the government’s choice into the model.
相似文献
Gervan Fearon (Corresponding author)Email: |
6.
In this paper we provide a characterization of international consumption risk sharing among a sample of OECD countries based
on panel cointegration and error-correction techniques. Our results indicate that around 30% of idiosyncratic consumption
risks are shared in the short run. In the long run, however, only about 10% of idiosyncratic consumption risks are shared
internationally. In addition, we find that countries characterized by relatively high foreign asset and liability positions
are less exposed to shocks. Moreover, the time it takes until idiosyncratic shocks exert their full impact on consumption
crucially depends on the foreign asset and liability position.
相似文献
Johann Scharler (Corresponding author)Email: |
7.
This paper empirically investigates the demand for international reserves (and foreign exchange reserves) during fixed and
floating exchange rates periods in three developing countries: Kenya, Mexico and Philippines. Based on theoretical models,
three factors are identified as important for the demand of international reserves and foreign reserves: average propensity
to import, volume of imports and variability of reserves. The paper employs the cointegration methodology and error correction
method to investigate the relationships. Cointegration tests results indicate a reliable long-run stationary relationship
between the international reserves (and foreign exchange reserves) and the stated explanatory variables across countries and
sub-periods of fixed and clean float. The error correction results indicate causality from the explanatory variables to the
reserves during both the short and long run. This is true during both the fixed and the floating periods.
相似文献
Mohammad Hasan (Corresponding author)Email: |
8.
Policy coordination in East Asia and across the Pacific 总被引:1,自引:1,他引:0
In this paper, we construct a macro-econometric model that describes the economic activity in the Asia-Pacific area and provide
quantitative insights into the recent policy debates on monetary and currency coordination among the East Asian economies.
The model includes a wide variety of monetary and currency policy rules that the East Asian economies adopt and allows for
one country's policymaking to have substantial effects on foreign countries. We apply the model to three current policy issues:
(1) the desirability of currency basket pegs in East Asia, (2) the anticipated effects of China's currency policy reform,
and (3) the non-negativity constraint on Japanese nominal interest rates. The simulation analyses show the external economy
effects of policy rules quantitatively and suggest the difficulty of monetary and currency policy coordination among the East
Asian economies.
相似文献
Koichiro Kamada (Corresponding author)Email: |
Izumi TakagawaEmail: |
9.
Pei-Cheng Liao 《Open Economies Review》2008,19(1):55-70
This paper investigates the effects of R&D spillovers on the R&D choices of foreign exporters when the importing country adopts
either uniform or discriminatory alternative tariff regimes. We show that the importing country should optimally choose a
uniform tariff regime. A uniform tariff regime is also advantageous for foreign exporters if the R&D spillovers are sufficiently
large. A comparison of free trade with the two tariff regimes reveals that there are some situations in which both the importing
country and foreign exporters are better off under free trade, which supports trade liberalization.
相似文献
Pei-Cheng LiaoEmail: |
10.
This paper studies to what extent the diversity of exchange rate regimes within Mercosur exerts an influence on the feasibility
of a monetary union in this area. A semi-structural vector autoregression model is built for each country, including a set
of international and domestic variables. Based on impulse response functions and forecast error decomposition, we conclude
that differences in exchange rate regimes explain significantly the divergences of economic dynamics triggered by foreign
or domestic shocks. Second, we decompose the structural innovations generated by each country model into unobservable common
and idiosyncratic components, using a state-space model. This last exercise, intended to assess the degree of policy coordination
between the Mercado Común del Sur members, did not disclose any common component for the structural innovations generated
by the three national models.
相似文献
Alain Sand-Zantman (Corresponding author)Email: |
11.
FDI and the relevance of spatial linkages: do third-country effects matter for Dutch FDI? 总被引:2,自引:0,他引:2
The aim of this paper is to test for the relevance of spatial linkages for Dutch (outbound) foreign direct investment (FDI).
We estimate a spatial lag model for Dutch FDI to 18 host countries. After controlling for fixed effects, we find for our sample
period 1984–2004 that third-country effects matter. Apart from our benchmark spatial lag model, we also estimate various alternative
models by looking at European host FDI countries only, by dividing FDI into industry and services FDI, and by estimating a
spatial error model.
相似文献
Harry GarretsenEmail: |
12.
Marcel Mérette Evangelia Papadaki Jorge Hernandez Yu Lan 《Atlantic Economic Journal》2008,36(2):195-209
In this paper, we develop a computable general equilibrium (CGE) model to shed quantitative light on the implications of a
scenario of deeper economic integration between Canada and the United States, where the barriers for foreign direct investment
are preferentially eliminated. Our model distinguishes between the activities of domestic and foreign-owned firms at the microeconomic
level, both in terms of demand and production characteristics. Overall our findings suggest that further investment liberalization
between the two countries will accelerate the shaping of Canada’s industrial structure, as manifested by recent trends.
相似文献
Yu LanEmail: |
13.
Insurance Underwriter or Financial Development Fund: What Role for Reserve Pooling in Latin America?
Barry Eichengreen 《Open Economies Review》2007,18(1):27-52
The accumulation of international reserves by emerging markets raises the question of how to best utilize these funds. This
paper explores two routes through which the pooling of reserves could enhance stability and welfare. First, the reserve pool
could be used for emergency lending in response to sudden stops. Second, a portion of the reserve pool along with borrowed
funds could be used to purchase contingent debt securities issued by governments and corporations, helping to solve the first-mover
problem that limits the liquidity of markets in these instruments and hinders their acceptance by private investors. This
paper argues that the second option is more likely to be feasible and productive.
相似文献
Barry EichengreenEmail: |
14.
In the debate over whether non-profit and for-profit hospitals behave differently in the presence of market concentration
and greater individual market power, most scholars have concentrated on the traditional price analysis approach. But this
has produced conflicting results. This study attempts to avoid the limitations of price as an indicator of how these hospitals
respond to greater market power by examining changes in admissions given the capacity decision. The results indicate that
for-profit and public hospitals respond similarly to increased market power. On the other hand, private non-profit hospitals
appear to act differently. This presents important implications for antitrust policies and for the management of non-profit
hospitals.
相似文献
Alfredo G. Esposto |
15.
Exchange Rate Economics 总被引:1,自引:0,他引:1
John Williamson 《Open Economies Review》2009,20(1):123-146
The paper summarizes the current theory of how a floating exchange rate is determined, dividing the subject into what determines
the steady state and what determines the transition to steady state. The inadequacies of this model are examined, and an alternative
“behavioral” model, which recognizes that the foreign exchange market is populated by both fundamentalists and chartists is
presented. It is argued that the main importance of understanding the foreign exchange market for development strategy is
to permit a correct appraisal of the dangers of Dutch disease. Empirically it seems that from the standpoint of promoting
development it is preferable to have a mildly undervalued rate. The paper concludes by examining implications for exchange
rate regimes.
相似文献
John WilliamsonEmail: |
16.
Miguel D. Ramirez 《Atlantic Economic Journal》2007,35(3):343-356
Using panel data, this paper tests whether public and private capital have a positive and significant effect on aggregate
output and labor productivity for Mexico during the 1960–2001 period. The richer information set made possible by the sectorial
data enables this study to utilize the methodologically sound “group-mean” fully modified ordinary least squares (FMOLS) procedure
developed by Pedroni to generate consistent estimates of the relevant panel variables in the cointegrated production (labor
productivity) function. The results suggest that, in the long run, changes in the stocks of public and private capital and
the economically active population (EAP) have a positive and economically significant effect on output ( and labor productivity).
The period is also broken down into two sub-periods: 1960–1981 (state-led industrialization) and 1982–2001 (neoliberal model).
The estimate for the public capital variables clearly shows that it had a relatively more important economic effect during
the earlier state-led period.
相似文献
Miguel D. RamirezEmail: |
17.
Do Patent Protection and Technology Transfer Facilitate R&D in Developed and Emerging Countries? A Semiparametric Study 总被引:1,自引:0,他引:1
This paper examines if patent protection and technology transfer facilitate R&D in a sample that includes both developed and
emerging countries. A semiparametric model is used to estimate the relevant parameters using country level data from 21 countries,
of which six are emerging, for the period 1981–1997. The results suggest thresholds in patent protection and technology transfer:
patent protection has a positive effect which weakens at high levels of protection, and FDI has a positive effect only if
the country depends heavily on FDI.
相似文献
Debasri MukherjeeEmail: |
18.
Floating exchange rates are said to introduce volatility into the foreign exchange market that could deter trade flows. Previous
research employed aggregate import and export trade data and provided mixed results. In this paper we disaggregate the trade
data between the U.S. and the emerging economy of India and use the bounds testing approach to cointegration and error-correction
modeling to show that in 40 industries that trade between the two countries, exchange rate volatility has negative and positive
effects in 40% of industries, in the short run. These short-run effects, however, do not last into the long run in many cases.
相似文献
Mohsen Bahmani-OskooeeEmail: |
19.
Non-traded Goods,Technical Progress and Wages 总被引:2,自引:0,他引:2
We use a general equilibrium model of trade to show that technical improvement may indeed cause a fall in the wages of unskilled
workers. Under some modest conditions, the wages of skilled workers may go down too.
相似文献
Reza OladiEmail: |
20.
Each year around 8% of Swedish manufacturing firms leave an industry. Of the exit routes available, the least likely is firm
closure. Firms are more likely to merge, become acquired or switch to a new industry. We investigate the importance of a range
of firm and industry characteristics for the exit decision of Swedish firms from 1980–1996. From our analysis two patterns
are evident. First, firms that close down appear to be the most distinct compared to those that remain within the sector.
Second the same characteristics can have quite different associations with different exit strategies.
相似文献
David GreenawayEmail: |