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Trade and Investment under Policy Uncertainty: Theory and Firm Evidence

Handley, Kyle; Limão, Nuno - C.E.P.R. Discussion Papers - 2012

We provide theoretical and empirical evidence that policy uncertainty can significantly affect firm level investment … and entry decisions in the context of international trade. When market entry costs are sunk, policy uncertainty can create … dynamic, heterogeneous firms model we show that: (i) investment and entry into export markets is reduced when trade policy is …

Persistent link: https://www.econbiz.de/10011083993

Energy and Climate Change in China

Carraro, Carlo; Massetti, Emanuele - C.E.P.R. Discussion Papers - 2012

This paper examines future energy and emissions scenarios in China generated by the Integrated Assessment Model WITCH. A Business-as-Usual scenario is compared with five scenarios in which Greenhouse Gases emissions are taxed, at different levels. The elasticity of China’s emissions is...

Persistent link: https://www.econbiz.de/10011084331

When Ideas Trump Interests: Preferences, World Views, and Policy Innovations

Rodrik, Dani - C.E.P.R. Discussion Papers - 2013

policy—or policy entrepreneurship—can exert an independent effect on equilibrium outcomes even in the absence of changes in …

Persistent link: https://www.econbiz.de/10011083740

Policy Uncertainty, Trade and Welfare: Theory and Evidence for China and the U.S.

Handley, Kyle; Limão, Nuno - C.E.P.R. Discussion Papers - 2013

We assess the impact of U.S. trade policy uncertainty (TPU) toward China in a tractable general equilibrium framework … accession and argue that in the case of the U.S. the most important policy effect was a reduction in TPU: granting permanent …

Persistent link: https://www.econbiz.de/10011083973

Towards a Legal Theory of Finance

Pistor, Katharina - C.E.P.R. Discussion Papers - 2012

This paper develops the building blocks for a legal theory of finance. LTF holds that financial markets are legally constructed and as such occupy an essentially hybrid place between state and market, public and private. At the same time, financial markets exhibit dynamics that frequently put...

Persistent link: https://www.econbiz.de/10011084310

Uncertainty and Trade Agreements

Limão, Nuno; Maggi, Giovanni - C.E.P.R. Discussion Papers - 2013

In this paper we explore the potential gains that a trade agreement (TA) can provide by regulating trade-policy … TA when the trading environment is more uncertain. As exogenous trade costs decline, the gains from decreasing trade-policy …

Persistent link: https://www.econbiz.de/10011084554

Capital Controls and Macroprudential Measures: What Are They Good For?

Forbes, Kristin; Fratzscher, Marcel; Straub, Roland - C.E.P.R. Discussion Papers - 2014

Are capital controls and macroprudential measures successful in achieving their objectives? Assessing their effectiveness is complicated by selection bias and endogeneity; countries which change their capital-flow management measures (CFMs) often share specific characteristics and are responding...

Persistent link: https://www.econbiz.de/10011084623

Bubble Thy Neighbor: Portfolio Effects and Externalities from Capital Controls

Forbes, Kristin; Fratzscher, Marcel; Straub, Roland - C.E.P.R. Discussion Papers - 2012

We use changes in Brazil’s tax on capital inflows from 2006 to 2011 to test for direct portfolio effects and externalities from capital controls on investor portfolios. The analysis is structured based on information from investor interviews. We find that an increase in Brazil’s tax on...

Persistent link: https://www.econbiz.de/10011084681

Aiding Conflict: The Impact of U.S. Food Aid on Civil War

Nunn, Nathan; Qian, Nancy - C.E.P.R. Discussion Papers - 2012

This paper examines the effect of U.S. food aid on conflict in recipient countries. To establish a causal relationship, we exploit time variation in food aid caused by fluctuations in U.S. wheat production together with cross-sectional variation in a country's tendency to receive any food aid...

Persistent link: https://www.econbiz.de/10011084708

The Strategic Determinants of U.S. Human Rights Reporting: Evidence from the Cold War

Qian, Nancy; Yanagizawa-Drott, David - C.E.P.R. Discussion Papers - 2008

This paper uses a country-level panel dataset to test the hypothesis that the United States biases its human rights reports of countries based on the latters’ strategic value. We use the difference between the U.S. State Department’s and Amnesty International’s reports as a measure of U.S....

Persistent link: https://www.econbiz.de/10005789167