The paper analyses the global spillovers of the Federal Reserve’s unconventional monetary policy measures since 2007 … policy spillovers, but rather that responses to Fed policies are related to country risk. The results thus illustrate how US …

counterparts? (2) Do foreign firms generate spillovers to domestic firms? The estimation technique in this paper takes potential … endogeneity of ownership, spillovers and other factors into account by estimating a fixed effects model using instrumental … spillovers to domestic firms on average. In contrast, on average there are negative spillovers to domestic firms in Bulgaria and …

We use changes in Brazil’s tax on capital inflows from 2006 to 2011 to test for direct portfolio effects and …. We find that an increase in Brazil’s tax on foreign investment in bonds causes investors to significantly decrease their … portfolio allocations to Brazil in both bonds and equities. Investors simultaneously increase allocations to other countries …

presents a theoretical growth model where MNCs directly affect the endogenous growth rate via technological spillovers. This is … novel since other endogenous growth models with MNCs, e.g. the Grossman-Helpman model, assume away the knowledge-spillovers … the model. Specifically, we find industry-level scale effects and international knowledge spillovers that are unrelated to …

patent. Provided that spillovers exist in the case of unilateral revelation of know-how, it can be shown that non … equilibrium is unique for high spillovers. Cooperation can occur for low spillovers. For certain parameters there exists an …

structure in an international joint venture. In contrast to existing arguments, we show that spillovers must not always have … venture is mutually beneficial. Surprisingly, however, we find that despite the prospect of spillovers, a joint venture is …

technology spillovers from FDI (foreign direct investment) on a firm’s productivity growth. Using firm-level panel data on Czech … of R&D in explaining the productivity growth of a firm 2) Technology spillovers from FDI occur for firms that are more R …&D intensive 3) Spillovers from foreign joint ventures are insignificant for Czech manufacturing firms 4) The extent of technology …

effects, however, although it is suggested that host country spillovers vary systematically between countries and industries … competition. The spillovers to the home countries of MNCs are often more difficult to identify, for various reasons. Earlier …

(i.e., spillovers). Providing evidence from a larger sample of countries and greater variety of firms than existing … studies, with separate estimates by firm size, age, and sector, we show: a) backward spillovers (stemming from supplying a … foreign firm in the host country or exporting to a foreign firm) are consistently positive; b) horizontal spillovers are …