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1.
Global Imbalances and China 总被引:2,自引:0,他引:2
Yu Yongding 《The Australian economic review》2007,40(1):3-23
2.
This paper examines how trade liberalization affects national and global pollution in a multi‐country model incorporating monopolistic competition and intra‐industry trade as well as inter‐industry trade. Each country produces skill‐intensive differentiated goods and labor‐intensive goods. Pollution is a by‐product of production but pollution abatement can be undertaken. Regardless of country characteristics, if the differentiated‐good sector is sufficiently cleaner (dirtier) then, without any change in environmental taxes, a multilateral reduction in import protection accorded to the differentiated good or to both goods typically leads to a decline (rise) in pollution in all countries. Pollution havens tend not to arise. 相似文献
3.
Origin of FDI and Intra‐Industry Domestic Spillovers: The Case of Greek and European FDI in Bulgaria
This paper uses firm‐level data to assess the horizontal impact of foreign firm ownership on domestic productivity in Bulgaria. We identify a theoretical tradeoff between technological distance (of domestic versus foreign firms) and internalization capacity (of spillovers) and examine the extent to which this is reflected in the impact on the domestic economy of different types and origins of FDI. Emphasis is placed upon the effects of Greek FDI, which is known to be of a distinctively “regional” character. We find that Greek FDI produces significantly larger positive spillovers, which appear more suitable for the Bulgarian context of transition and economic restructuring. We also unveil some notable “hysteresis” and “technology bias” effects for FDI spillovers of all origins, as well as some country‐specific ownership‐structure and threshold effects. 相似文献
4.
Aleksandra Parteka 《Review of Development Economics》2013,17(4):712-731
The purpose of this paper is to evaluate the role of trade in productivity growth in a sample of 30 sectors in 25 EU countries in the period of rapid East–West integration (1995–2007). Shift‐share analysis is used to show that changes in value added per hour worked in these countries appear to be mainly due to positive developments (rising productivity) within single industries and only to a lower extent result from a shift towards higher productivity activities. Trade is found to be an important positive determinant of intra‐industry productivity growth in European countries. Exports and imports alike can be associated with efficiency gains, but intermediate good exchange and trade with New Member States exert a particularly strong influence on intra‐industry productivity growth in the EU. 相似文献
5.
Paula E. Gobbi Juliane Parys Gregor Schwerhoff 《The Canadian journal of economics》2018,51(1):236-274
We introduce childcare sharing in a collective model of household behaviour to investigate which factors make spouses increase or decrease their share of parental leave. The concern about future consumption motivates parents to invest in their human capital and to limit their leave duration. Using relative income and the age difference between spouses as distribution factors, we cannot reject Pareto efficiency in childcare sharing. Higher relative incomes and larger age differences shift the conditional leave allocation towards the relatively poorer and younger partner, respectively. Households with higher total income purchase more professional childcare. 相似文献
6.
E. Young Song 《Review of International Economics》2011,19(3):494-508
Contrary to the popular belief, specialization is not necessary for gravity equations. This paper shows that the simple gravity equation holds if and only if the market share of an exporting country is constant across all importing countries. Specialization is just one special case satisfying this condition. The constant‐share condition can hold in a variety of situations where multiple producers compete with a homogeneous good. Further, this paper shows that the ratio of bilateral trade to the product of partner incomes is increasing in the extent of specialization and in the intensity of intra‐industry trade. Since the relationship is not model‐specific, the correlations among these variables do not support any specific model. 相似文献
7.
Karl Farmer 《International Advances in Economic Research》2016,22(4):377-395
The intertemporal equilibrium approach to current accounts analyzed the impacts of respective intra-European Monetary Union (intra-EMU) and Asian-U.S. financial integration between 1999 and 2007 on the intra-EMU current account and global trade imbalances. Moreover, Farmer and Ban (2014) find in a three-country, two-region overlapping generations model that financial integration between both the EMU core and periphery and between Asia and the U.S. induce trade surpluses in the EMU core and Asia, while in the EMU periphery and in the U.S., trade balances become negative when the global economy is dynamically inefficient. In this paper, we first show that in a numerically specified Farmer-Ban model, steady-state trade balance to gross domestic product ratios are too low compared to the empirically observed counterparts. We suggest avenues to ameliorate this problem. 相似文献
8.
Erling Red Larsen 《The Scandinavian journal of economics》2021,123(1):327-352
In this paper, I demonstrate the existence of city‐specific intra‐week price patterns in the Norwegian housing market. I use a data set with exact sell dates to show that sell prices are higher on certain days. Using ask prices and observations on repeat sales in fixed‐effect models, I seek to control for composition effects and unobserved heterogeneity. The intra‐week price patterns are shown to be associated with patterns in the frequency of public‐showing days. I argue that the findings are consistent with optimizing agents acting on new information. 相似文献
9.
The empirical relationship between differences in endowments and different types of trade is investigated in this paper. Although net trade (NT) and vertical intra‐industry trade (IIT) are both broadly viewed as reflecting endowment differences, we suggest that there will be systematic differences in the way their shares of trade adjust as endowment differences become larger. Empirical evidence for European Union trade with its 52 major trading partners confirms this. The share of horizontal IIT (net trade) decreases (increases) for all increases in absolute endowment differences, but the share of vertical IIT can both increase and decrease with increases in endowment differences. 相似文献
10.
Athanasios Koulakiotis Katerina Lyroudi Nicholas Papasyriopoulos 《International Advances in Economic Research》2012,18(1):53-62
This study investigates, through panel univariate GARCH models for 14 European countries the causality between inflation and
GDP and finds that inflation causes GDP at the 5% level of significance and GDP cause inflation at the 10% significance level.
Thus, there is a bidirectional effect between the above two cases which is significant at the 10% level. 相似文献
11.
Within‐Subject Intra‐ and Inter‐Method Consistency of Two Experimental Risk Attitude Elicitation Methods
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We compare the consistency of choices in two methods used to elicit risk preferences on an aggregate as well as on an individual level. We ask subjects to choose twice from a list of nine decisions between two lotteries, as introduced by Holt and Laury 2002, 2005 ) alternating with nine decisions using the budget approach introduced by Andreoni and Harbaugh ( 2009 ). We find that, while on an aggregate (subject pool) level the results are consistent, on an individual (within‐subject) level, behaviour is far from consistent. Within each method as well as across methods we observe low (simple and rank) correlations. 相似文献
12.
Reserves and sovereign wealth funds (SWFs) assets should be jointly considered for the assessment of global imbalances, hence their denomination as sovereign external assets (SEAs): both are public capital outflows from developing to developed countries, both hinder adjustment in current account surplus and deficit countries and, therefore, both contribute to sustain global imbalances. They represented 135 per cent and 50 per cent of net and gross US financing needs, respectively, in 2007. Reserves contribute 80 per cent and SWFs 20 per cent. They will go on providing resilience to the global imbalances, and the relative importance of SWFs is set to increase if commodity prices stay high. 相似文献
13.
Incorporating heterogeneity in preference to having children into an overlapping generations model of a small open economy, we examine the effects of changes in the size of pay‐as‐you‐go (PAYG) social security on fertility choices of individuals and population growth of the economy. It is shown that PAYG social security will raise population growth by increasing the number of individuals who have children and the number of children parents have if the system involves redistribution between retirees with different contributions, whereas, if it has no redistribution, PAYG social security does not affect the fertility decisions of individuals. 相似文献
14.
We use Granger causality tests within a conditional Gaussian Markov switching vector autoregressive (MS‐VAR) model using monthly data for G‐7 countries covering the period 1959:12–2008:10 to examine the relationship between inflation and inflation‐uncertainty. The MS‐VAR model allows us to model parameter time‐variation so as to reflect changes in Granger causality, assuming that these changes are stochastic and governed by an unobservable Markov chain. Inflation uncertainty is measured as the conditional variance generated by a Fractionally Integrated Smooth Transition Autoregressive Moving Average‐Asymmetric Power ARCH (FISTARMA‐APARCH) model. The distinguishing feature of our approach from the previous studies is the determination of the sign of the Granger causality relationship between inflation and its uncertainty over time. First, using a rolling VAR model, we show that the relationship between inflation and inflation uncertainty is time varying with frequent breaks. Second, using the MS‐VAR model, we obtain strong evidence in favour of the Holland's ‘stabilizing Fed hypothesis’ for Canada, France, Germany, Japan, United Kingdom, and the United States. We also find evidence in favour of the Friedman hypothesis for Canada and the United States. 相似文献
15.
We outline new metrics for measuring the trilemma aspects: exchange rate flexibility, monetary independence, and capital account openness, taking into account substantial international reserve accumulation that has taken place since the 2000s. Since 1990, the trilemma variables in emerging markets have converged towards intermediate levels, characterizing by managed flexibility, using sizable international reserves as a buffer while retaining some degree of monetary autonomy. We test the linearity of the trilemma, and find that the weighted sum of the three trilemma variables adds up to a constant. Thus, a rise in one trilemma variable should be traded‐off with a drop of the weighted sum of the other two. 相似文献
16.
This paper constructs an overlapping generations model with a frictional labor market to explain persistent low education in developing countries. When parents are uneducated, their children often face difficulties in finishing school and therefore are likely to remain uneducated. Moreover, if children expect that other children of the same generation will not receive an education, they expect that firms will not create enough jobs for educated workers, and thus are further discouraged from schooling. These intergenerational and intragenerational mechanisms reinforce each other, creating a serious poverty trap. Escape from the trap requires the well‐organized and combined implementation of a subsidy for schooling, support for disadvantaged children, and public awareness programs. 相似文献
17.
This paper examines intra‐household allocation of resources to gain insight into family relationships and gender bias in Japanese households. We take the Engel curve approach to examine how adult consumption is affected by the presence of a child, either a boy or a girl, in the family. Empowered by diary‐based high quality spending data from the Family Income and Expenditure Survey, our empirical results show that adult consumption is significantly reduced in households with children; furthermore, gender bias is not observed in total adult expenditures, while responses of adult clothing expenses to the presence of a child are significantly different between a boy and a girl: spending on a father's clothing is reduced when the child is a school‐aged daughter, while spending on a mother's clothing decreases when a school‐aged son is in the home. Our analysis also shows that after the early 2000s girls receive a larger share of spending for children's clothing as well as for high school education than boys. 相似文献
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19.
Gregory W. Fuller 《New Political Economy》2018,23(2):174-191
ABSTRACTEuropean Economic and Monetary Union has fostered an unstable complementarity in European financial markets between the growth models favoured by European savers (in the northern ‘core’ of Germany and other exporting states) and its borrowers (in the debt-fuelled and demand-driven eurozone periphery, including countries like Greece and Ireland). In the 2000s, the result of this development was a sharp decrease in real interest rates across the eurozone periphery, leading to rapid but inflationary growth. This eroded the competitiveness of exporters in the European periphery, making them more reliant on capital inflows to pay for growing current account deficits. Those deficits became problematic after the disruption of eurozone financial markets beginning in 2008. The policy response to the crises has focused on reducing the competitiveness gap between the core and periphery – while overlooking the financial forces that contributed to those competitiveness differentials in the first place. Indeed, it is the fragile and perverse complementarity in eurozone financial markets – more than any external shock or competitiveness differences – that lies at the root of Europe’s ongoing crisis. 相似文献
20.
Stefanie A. Haller 《The Canadian journal of economics》2012,45(4):1397-1430
Abstract This paper examines firm heterogeneity in terms of size, wages, capital intensity, and productivity between domestic and foreign‐owned firms that engage in intra‐firm trade, firms that export and import, firms that import only, and firms that export only. As previously documented, heterogeneity between different groups of trading firms is substantial. Taking into account intra‐firm trade in addition to exporting and importing yields new insights into the productivity advantage previously established for exporting firms. The results presented here show that this premium accrues only to exporters that also import and to exporters that also engage in intra‐firm trade, but not to firms that export only. Using simultaneous quantile regressions, the paper illustrates that heterogeneity within different groups of trading firm is equally large. Some of this within‐group heterogeneity can be attributed to differences in trading partners. 相似文献