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The Impact of Globalization on the Equity Cost of Capital

Hardouvelis, Gikas A; Malliaropoulos, Dimitrios; … - C.E.P.R. Discussion Papers - 2004

equity changes as globalization takes place. This is because the launch of the single currency has led to the elimination of … among EU investors. We focus not only on the impact of globalization on the level of the cost of equity, but also on the …

Persistent link: https://www.econbiz.de/10005666905

Tear Down this Wall: On the Persistence of Borders in Trade

Nitsch, Volker; Wolf, Nikolaus - C.E.P.R. Discussion Papers - 2009

evolution of intra-German trade flows after reunification then provides new insights for both the globalization and border …-West border; political integration is not rapidly followed by economic integration. Instead, we estimate that it takes at least …

Persistent link: https://www.econbiz.de/10008496456

Globalization and the Inequality of Nations

Krugman, Paul; Venables, Anthony J - C.E.P.R. Discussion Papers - 1994

tendency for manufacturing agglomeration. How does globalization affect the location of manufacturing and the gains from trade …

Persistent link: https://www.econbiz.de/10005114236

Business Cycle Synchronization Since 1880

Artis, Michael J; Chouliarakis, George; Harischandra, PKG - C.E.P.R. Discussion Papers - 2011

This paper studies the international business cycle behaviour across 25 advanced and emerging market economies for which 125 years of annual GDP data are available. The picture that emerges is more fragmented than the one drawn by studies that focused on a narrower set of advanced market...

Persistent link: https://www.econbiz.de/10009003371

Globalization and Cooperative Relations

Spagnolo, Giancarlo - C.E.P.R. Discussion Papers - 2002

Globalization – improved access to integrated, anonymous markets – is claimed to crowd out cooperative relations: from …. The aversion to intertemporal substitution, a regular feature of real world agents, facilitates cooperation by decreasing …. Access to goods’ markets and ‘money’ may then hinder cooperation by undoing these effects, allowing agents to save and …

Persistent link: https://www.econbiz.de/10005136656

Non-Preferential Trading Clubs

Raimondos-Møller, Pascalis; Woodland, Alan D - C.E.P.R. Discussion Papers - 2002

This Paper examines the welfare implications of non-discriminatory tariff reforms by a subset of countries, which we term a non-preferential trading club. We show that there exist coordinated tariff reforms, accompanied by appropriate income transfers between these countries, which unambiguously...

Persistent link: https://www.econbiz.de/10005667107

The Uruguay Round and Trade in Manufactures and Services. General Equilibrium Simulations of Production, Trade and Welfare Effects of Liberalization

Haaland, Jan I. - C.E.P.R. Discussion Papers - 1994

Using a numerical general equilibrium model we examine the possible production, trade and welfare effects of successful implementation of the Uruguay Round results. The model includes trade in manufactures and (some) services among industrial regions and countries; there is imperfect competition...

Persistent link: https://www.econbiz.de/10005124490

Integration, Agglomeration and the Political Economics of Factor Mobility

Ottaviano, Gianmarco; Thisse, Jacques-François - C.E.P.R. Discussion Papers - 1999

This paper tackles the issue of the optimality of agglomeration in a two-region economy with skilled/mobile and unskilled/immobile workers. The market leads to the optimal outcome when transport costs are high or low. However, for intermediate values, it yields agglomeration whereas dispersion...

Persistent link: https://www.econbiz.de/10005504229

`1992': Trade and Welfare; A General Equilibrium Model

Gasiorek, Michael; Smith, Alasdair; Venables, Anthony J - C.E.P.R. Discussion Papers - 1992

This paper investigates the consequences of the completion of the internal market in the EC using a computable general equilibrium model of trade under imperfect competition. The focus of the paper is the welfare consequences of reducing trade barriers and the changes in production and trade...

Persistent link: https://www.econbiz.de/10005504484

Integration, Specialization and Adjustment

Krugman, Paul; Venables, Anthony J - C.E.P.R. Discussion Papers - 1993

concentrated in a single location. Economic integration may induce specialization. The paper studies the simple dynamics of the … wages as relocation of industry occurs, although there are long-run gains from integration. …

Persistent link: https://www.econbiz.de/10005497849