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An Alternative Interpretation of the 'Resource Curse' : Theory and Policy Implications

Hausmann, Ricardo; Rigobon, Roberto - 2021

The existence of a natural resource curse has been a longstanding theme in the economic literature and in policy discussions. We propose an alternative mechanism and study its policy implications. The mechanism is based on the interaction between two building blocks: specialization in...

Persistent link: https://www.econbiz.de/10013235591

Global Production with Export Platforms

Tintelnot, Felix - 2016

of multinational firms' location and production decisions and the welfare implications of multinational production. The … costs of foreign investment are large. Second, I calibrate the model to data on trade and multinational production for … divert a sizable fraction of the production of EU multinationals from the US to Canada …

Persistent link: https://www.econbiz.de/10012992631

Cheap Labor Meets Costly Capital : The Impact of Devaluations on Commodity Firms

Forbes, Kristin J. - 2021

This paper examines how devaluations affect the relative costs of labor and capital and therefore influence production …

Persistent link: https://www.econbiz.de/10013211638

Inventories, Lumpy Trade, and Large Devaluations

Alessandria, George - 2010

infrequently and hold substantially larger inventories of imported goods than domestic goods. Using multiple sources of data, we …

Persistent link: https://www.econbiz.de/10012759539

Optimal Monetary Policy and the Sources of Local-Currency Price Stability

Corsetti, Giancarlo - 2010

We analyze the policy trade-offs generated by local currency price stability of imports in economies where upstream …

Persistent link: https://www.econbiz.de/10012759752

Contracting and the Division of the Gains from Trade

Bernard, Andrew B. - 2015

This paper examines the microstructure of import markets and the division of the gains from trade among consumers, importers and exporters. When exporters and importers transact through anonymous markets, double marginalization and business stealing among competing importers lead to lower...

Persistent link: https://www.econbiz.de/10013012693

Instrumental Variables and Causal Mechanisms : Unpacking the Effect of Trade on Workers and Voters

Dippel, Christian - 2017

Instrumental variables (IV) are a common means to identify treatment effects. But standard IV methods do not allow us to unpack the complex treatment effects that arise when a treatment and its outcome together cause a second outcome of interest. For example, IV methods have been used to show...

Persistent link: https://www.econbiz.de/10012960515

The Margins of Global Sourcing : Theory and Evidence from U.S. Firms

Antras, Pol - 2014

We develop a quantifiable multi-country sourcing model in which firms self-select into importing based on their productivity and country-specific variables. In contrast to canonical export models where firm profits are additively separable across destination markets, global sourcing decisions...

Persistent link: https://www.econbiz.de/10013039758

Networks and the Macroeconomy : An Empirical Exploration

Acemoglu, Daron - 2015

macroeconomic fluctuations. We first exposit that in the presence of Cobb-Douglas production functions and consumer preferences … of the variation in industry imports from China and changes in federal spending) and two supply-side ones (TFP shocks and …

Persistent link: https://www.econbiz.de/10013019498

Importing Skill-Biased Technology

Burstein, Ariel T. - 2011

Capital equipment - such as computers and industrial machinery - embodies skill-biased technology, in the sense that it is complementary to skilled labor. Most countries import a large share of their capital equipment, and by doing so import skill-biased technology. In this paper we develop a...

Persistent link: https://www.econbiz.de/10013119969