By allowing for imperfectly informed markets and the role of private information, we offer new insights about observed deviations of portfolio concentrations in domestic relative to foreign risky assets, or home bias, from what standard finance models predict. Our model ascribes the bias to...

We provide the first empirical evidence on how media-driven narratives influence cross-border institutional investment flows. Applying natural language processing techniques to one-and-a-half million newspaper articles, we document substantial cross-country variation in sentiment and risk...

By allowing for imperfectly informed markets and the role of private information, we offer new insights about observed deviations of portfolio concentrations in domestic relative to foreign risky assets, or "home bias", from what standard finance models predict. Our model ascribes the "bias" to...

Trust in the citizens of a potential partner country may affect the decision to trade with or to migrate to a foreign country. This paper employs panel data to examine the causal impact of such bilateral trust on international trade and migration patterns. We apply instrumental variables (IV)...

This paper examines the impact on TFP of North-South trade-related technology diffusion in Latin America and the Caribbean (LAC). North-South R&D flows are constructed based on industry-specific R&D in the North, North-South trade patterns, and input-output relations in the South. The main...

This paper considers the policy options of the West Bank and Gaza (WBG) with respect to trade and the exports of labor services. It concludes that i) a non-discriminatory trade policy (NDTP) is unambiguously superior to an FTA with Israel; ii) the WBG should pursue a NDTP with all its neighbors,...

This paper investigates the effects of trade liberalization on labor demand elasticities. Employment demand equation is estimated by using data (1971-1996) for manufacturing industries in Tunisia. Results from empirical testing using the model find a weak support for the idea assuming that trade...

This paper aims to test several hypotheses on the determinants of the quality of trade in cross-country regressions, taking a sample of trade competitors in EU markets. The hypotheses are those underlying two models of VIIT: the so-called neo-H-O model based on factor endowment and an ?economic...

18 studies using data from 20 highly developed, developing, and less developed countries document that average wages in exporting firms are higher than in non-exporting firms from the same industry and region. The existence of these so-called exporter wage premia is one of the stylized facts...

This paper investigates short and long-run effects of trade liberalization on employment and wages. Employment and wage equations are estimated using data (1971?96) for importable and exportable sectors in Tunisia. Causality tests show that causality is unidirectional. Wages strongly causes...