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Bems, Rudolfs; di Giovanni, Julian - C.E.P.R. Discussion Papers - 2014

This paper shows that an income effect can drive expenditure switching between domestic and foreign goods. We use a unique Latvian scanner-level dataset for food and beverages, covering the 2008-09 financial crisis, to study (i) relative price movements, and (ii) expenditure switching between...

Persistent link: https://www.econbiz.de/10011084540

Can Comparative Advantage Explain the Growth of US Trade?

Cuñat, Alejandro; Maffezzoli, Marco - C.E.P.R. Discussion Papers - 2005

We present a dynamic comparative advantage model in which moderate reductions in import tariffs can generate sizable increases in trade volumes over time. A fall in import tariffs has two effects on the volume of trade. First, for given factor endowments, it raises the degree of specialization...

Persistent link: https://www.econbiz.de/10005662267

Learning and Dynamic Comparative Advantage: Lessons from Austria's Post-war Pattern of Growth for Eastern Europe

Marin, Dalia - C.E.P.R. Discussion Papers - 1995

This paper looks at Austria's pattern of development and its lessons for Eastern Europe. Austria's development path is characterized by three features. In the post-war era Austria was among the countries with the fastest convergence rate. At the same time Austria's movement up the technological...

Persistent link: https://www.econbiz.de/10005666891

Specialization Patterns and the Factor Bias of Technology

Cuñat, Alejandro; Maffezzoli, Marco - C.E.P.R. Discussion Papers - 2007

Development accounting exercises based on an aggregate production function find technology is biased in favour of a country's abundant production factors. We provide an explanation to this finding based on the Heckscher-Ohlin model. Countries trade and specialize in the industries that use...

Persistent link: https://www.econbiz.de/10005136510

The Changing International Transmission of Financial Shocks: Evidence from a Classical Time-Varying FAVAR

Eickmeier, Sandra; Lemke, Wolfgang; Marcellino, Massimiliano - C.E.P.R. Discussion Papers - 2011

prices, exports and TFP are the main drivers of the strong worldwide propagation of US financial shocks during the crisis. …

Persistent link: https://www.econbiz.de/10009003376

The Impact of Regional and Sectoral Productivity Changes on the U.S. Economy

Caliendo, Lorenzo; Parro, Fernando; Rossi-Hansberg, Esteban - C.E.P.R. Discussion Papers - 2014

We study the impact of regional and sectoral productivity changes on the U.S. economy. To that end, we consider an environment that captures the effects of interregional and intersectoral trade in propagating disaggregated productivity changes at the level of a sector in a given U.S. state to...

Persistent link: https://www.econbiz.de/10011083376

Quantifying a Dangerous Obsession? Competitiveness and export performance in an OECD Panel of Industries

Carlin, Wendy; Glyn, Andrew J; Van Reenen, John - C.E.P.R. Discussion Papers - 1997

This paper analyses the impact of cost competitiveness and technology on export performance using a very rich panel … models, we find that changes in relative unit labour costs are a robust determinant of changes in export market shares. In … the long run a 10% increase in relative unit labour costs leads to a fall of between 2% and 3% of export market share …

Persistent link: https://www.econbiz.de/10005136613

The Real Effects of EMU

Lane, Philip R. - C.E.P.R. Discussion Papers - 2006

We explore the impact of European monetary union (EMU) on the economies of the member countries. While the annual dispersion in inflation rates have not been much different to the variation across US regions, inflation differentials in the euro area have been much more persistent, such that...

Persistent link: https://www.econbiz.de/10005791619

Trade and Entrepreneurship with Heterogeneous Workers

Oyama, Daisuke; Sato, Yasuhiro; Tabuchi, Takatoshi; … - C.E.P.R. Discussion Papers - 2007

This paper investigates the impacts of progressive trade openness, technological externalities, and heterogeneity of … make the symmetric equilibrium unstable, generating equilibrium multiplicity, while sufficient heterogeneity of individuals …

Persistent link: https://www.econbiz.de/10005662268

Monopolistic Competition and Optimum Product Selection: Why and how heterogeneity matters

Nocco, Antonella; Ottaviano, Gianmarco; Salto, Matteo - C.E.P.R. Discussion Papers - 2013

recently re-emerged due to the availability of an appropriate and parsimonious framework to deal with firm heterogeneity …. Within this framework we show that non-separable utility, variable demand elasticity and endogenous firm heterogeneity cause … that the extent of the errors depends on the degree of firm heterogeneity. In particular, the inefficiency of the market …

Persistent link: https://www.econbiz.de/10011083607