Free Trade Agreements (FTA) attract significant interest, but after these treaties are signed not all exporters use them. We provide a model of heterogeneous utilization, also developing a novel method to estimate treaty-utilization costs. We later apply the model to estimate the evolution...

Free Trade Agreements (FTA) attract significant interest, but after these treaties are signed not all exporters use them. We provide a model of heterogeneous utilization, also developing a novel method to estimate treaty-utilization costs. We later apply the model to estimate the evolution...

For how long does cultural heritage persist? Do the culturally inherited values of immigrants dilute as generations pass? We answer these question by studying the relationship between revealed political behavior of immigrant families and the culture of the place where they migrated from, either...

Since Arrow (1962), spillovers from pioneer to follower in non-excludable innovations are central to our understanding of endogenous economic growth. Nonetheless, evidence of these spillovers in less-developed economies has been elusive. Our paper contributes by showing novel facts consistent...

This paper explores how affiliates of multinational corporations save liquidity when facing a transitory cash-flow shock. For this a panel is first built of non-publicly traded copper mines in South America between 2001 and 2012, most of them set up as Foreign Direct Investment (FDI). This...

The transition into non-traditional export activities attracts important policy and academic attention. Using international trade data, we explore how alternative linkages relate to the take-off and acceleration of export industries. Concretely, we run a horse-race among alternative Marshallian...

We study episodes where economic growth decelerates to negative rates. While the majority of these episodes are of short duration, a substantial fraction last for a longer period of time than can be explained as the result of business-cycle dynamics. The duration, depth and associated output...

The transition into non-traditional export activities attracts important policy and academic attention. Using international trade data, we explore how alternative linkages relate to the take-off and acceleration of export industries. Concretely, we run a horse-race among alternative Marshallian...