Effects of tariffs and real exchange rates on job reallocation: evidence from Latin America

Openness to international competition can lead to enhanced resource allocation in the end. While factor reallocation is essential if net benefits are to be derived from trade liberalization, the process generates costs both for transitioning workers and for employers undergoing personnel turnover. Net welfare gains depend on adjustment costs. Understanding of these issues has been hampered by data limitations. In this paper, we overcome some of these limitations by using new, harmonized measures on job creation and destruction for a number of countries in Latin America. We use these new series to investigate the impact of the removal of protectionism on net employment and gross job reallocation in Latin America. We find a robust pattern showing that reductions in tariffs and exchange rate appreciations increase the pace of job reallocation within sectors. We also find, however, some evidence of declining net employment growth as trade exposure increases. For example, we find some evidence that in the wake of tariff reductions, there is lower net employment growth.     

THE DETERMINANTS OF SOVEREIGN CREDIT RATINGS: A NEW EMPIRICAL APPROACH

The purpose of this paper is to extend the literature on the determinants of sovereign credit ratings by, firstly, showing empirically that there is a probable bias in the results obtained by previous studies and, secondly, to combine a General‐to‐Specific (GETS) model selection strategy with Dynamic Panel Data estimation techniques to resolve these biases. The results are encouraging: the preferred model is not only statistically adequate, but also economically significant and consistent with the categories of variables deemed to be important by the agencies who construct sovereign credit ratings.     

THE CAPITAL INFLOWS PROBLEM: CONCEPTS AND ISSUES

Since 1990, capital has flowed from industrial countries to developing regions like Latin America and parts of Asia. Most countries welcome reentry into international capital markets. However, capital inflows often are associated with inflationary pressures, a real exchange rate appreciation, a deterioration in the current account, and a boom in bank lending. This paper briefly examines how these inflows have altered the macroeconomic environment in a number of Asian and Latin American countries, and discusses the pros and cons of the policy options .     

The Informational Value of Incumbency

This paper exploits the informational value of incumbency: incumbency confers voters information about governing politicians not available from challengers. We propose a measure of incumbency advantage that improves the use of pure reelection success. We also study the relationship between incumbency advantage, ideological bias, and terms in office. Our argument emphasizes that incumbency affects candidates' chances of winning even if they had no opportunity to strategically utilize policies.     

Hispanic consumer acculturation and food safety concerns

The purpose of this study is to determine the effect of Hispanic consumer acculturation on concerns about food safety and pesticide residues, and attitudes toward pesticide-related agricultural practices. Two 3-min bilingual, English and Spanish, videos presenting information on integrated pest management (IPM) farming practices were shown in controlled settings to Californian Hispanic consumers (n = 91). Findings reveal that acculturation among Hispanic consumers, language of use and length of residency in the United States, are significant factors associated with consumer concerns about the safety of domestic grown and imported produce at the supermarket. Overall, however the research suggests a substantial lack of information by Hispanic consumers regardless of level of acculturation. Pre- and post-video survey results show significant change in attitude among Hispanic consumers toward food safety, farming practices, and university efforts to help farmers control pests and assist with other management techniques. These findings suggest that bilingual educational programmes on food safety and the use of pesticides by farmers would be appropriate.     

中国与厄瓜多尔石油贸易简析

<正>一、导言厄瓜多尔的经济基础是主要满足国内需求的石油产品以及供国内消费和出口的农产品。2008年,原油与精炼石油产品占出口收入的63%。厄瓜多尔经济年平均增长率为4.6%。促进经济增长的因素主要有石油价格居高不下,国内消费需求旺盛,非传统产品出口的增长和居住国外的厄瓜多尔人的汇款持续增加等因素。人均收入在2000年为1,296美元,2008年增长到3,961美元,贫困人口比例