We collect extensive data on worldwide trade by transportation mode and use this to provide detailed comparisons of the greenhouse gas emissions associated with output versus international transportation of traded goods. International transport is responsible for 33 percent of world-wide...

This paper revisits Trefler and Zhu's (2005, 2010) (TZ) empirical examination of the factor content of trade in the presence of international differences in production techniques and trade in inputs. In this framework, knowing the bilateral details of each country's input–output structure is...

This paper re-examines Adda and Cornaglia's (2006) evidence on the compensatory behavior of smokers who, in face of higher taxes, are found to reduce their consumption of cigarettes while maintaining their cotinine--a biomarker for nicotine--levels constant. This comment examines the robustness...

We collect extensive data on worldwide trade by transportation mode and use this to provide detailed comparisons of the greenhouse gas emissions associated with output versus international transportation of traded goods. International transport is responsible for 33 percent of world-wide...

This paper estimates the effect of having joined the monetary union on the income per capita of six early adopters of the euro using the synthetic control method. Our estimates suggest that while the income per capita of Belgium, France, Germany and Italy would have been higher without the euro,...

This timely book deploys new tools and measures to understand how global production networks change the nature of global economic interdependence, and how that in turn changes our understanding of which policies are appropriate in this new environment. Bringing to bear an array of the latest...

Intermediate input trade is regarded as an important contributory factor in explaining the increase in world trade in recent years. This timely book presents, for the first time, meticulous empirical analyses of the growth of input trade, and includes detailed studies that capture the main...

This paper argues that the linear price- dividend relationship as predicted in the Gordon (1962) model breaks down in regimes of high inflation and deflation. Using data for the US and the UK over the period from 1871 to 2002, nonlinear estimates support the prediction of the model.

Using panel data for 20 OECD countries over the period from 1903 to 1999 we examine the extent to which institutional, political, microeconomic and macroeconomic theories can explain strike activity over time and across countries. The empirical evidence shows that inflation, deflation, income...

In this paper we develop a macro-model of stock prices that predicts that the growth rates in real stock prices and real dividends gravitate towards predictable constants in the long run, but fluctuate on approximately decennial frequencies due to movements in capital's income share. The model...