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Hot and Cold Seasons in the Housing Market

Ngai, L. Rachel; Tenreyro, Silvana - Centre for Economic Performance, LSE - 2009

Every year during the second and thirdquarters (the "hot season") housing markets in the UK and the US experience systematic above-trend increases in both prices and transactions. During the fourth and first quarters (the "cold season"), house prices and transactions fall below trend. We propose...

Persistent link: https://www.econbiz.de/10005256477

Educational Attainment, Labour Market Institutions, and the Structure of Production

Nickell, Stephen; Redding, Stephen; Swaffield, Joanna - Centre for Economic Performance, LSE - 2002

A key feature of OECD economic growth since the early 1970s has been the secular decline in manufacturing's share of GDP and the secular rise of service sectors. This paper examines the role played by relative prices, technology, factor endowments, and labour market institutions in the process...

Persistent link: https://www.econbiz.de/10005017077

Market Size, Competition, and the Product Mix of Exporters

Mayer, Thierry; Melitz, Marc J.; Ottaviano, Gianmarco I. P. - Centre for Economic Performance, LSE - 2012

We build a theoretical model of multi-product firms that highlights how competition across market destinations affects both a firm's exported product range and product mix. We show how tougher competition in an export market induces a firm to skew its export sales towards its best performing...

Persistent link: https://www.econbiz.de/10010550422

Home Bias, Transactions Costs, and Prospects for the Euro: A More Detailed Analysis

Mann, Catherine L.; Meade, Ellen E. - Centre for Economic Performance, LSE - 2002

This paper brings together the literature on determination of home bias in equity holdings and the portfolio balance model of exchange rates to consider whether the dollar might be affected by a change in transactions costs that alters international portfolio allocations. Our empirical findings...

Persistent link: https://www.econbiz.de/10005016709

Explaining Currency Crises: A Duration Model Approach

Tudela, M M - Centre for Economic Performance, LSE - 2001

This paper is an empirical investigation into the duration of exchange rate episodes characterized by the absence of speculative attacks. We estimate a duration model for OECD countries during the 1970-1997 period. Specifically, we use semi-parametric methods to estimate model with unrestricted...

Persistent link: https://www.econbiz.de/10005016721

Intermediaries in International Trade: Direct Versus Indirect Modes of Export

Bernard, Andrew B.; Grazzi, Marco; Tomasi, Chiara - Centre for Economic Performance, LSE - 2012

This paper examines the factors that give rise to intermediaries in exporting and explores the implications for trade … underlying differences between direct and intermediary exporters have important consequences for trade flows. The ability of …

Persistent link: https://www.econbiz.de/10010535359

Freedom Fries

Michaels, Guy; Zhi, Xiaojia - Centre for Economic Performance, LSE - 2007

significant even after we control for changes in the product composition of trade flows. We also find that the decline in trade w …

Persistent link: https://www.econbiz.de/10005670568

The Effect of Trade on the Demand for Skill - Evidence from the Interstate Highway System

Michaels, Guy - Centre for Economic Performance, LSE - 2006

Since changes in trade openness are typically confounded with other factors, it has been difficult to identify the … labor market consequences of increased international trade. The advent of the United States Interstate Highway System … provides a unique policy experiment, which I use to identify the effect of reducing trade barriers on the relative demand for …

Persistent link: https://www.econbiz.de/10005797169

Timeliness, Trade and Agglomeration

Harrigan, James; Venables, Anthony J. - Centre for Economic Performance, LSE - 2004

An important element of the cost of distance is time taken in delivering final and intermediategoods. We argue that time costs are qualitatively different from direct monetary costs such asfreight charges. The difference arises because of uncertainty. Unsynchronised deliveries candisrupt...

Persistent link: https://www.econbiz.de/10005797209

Has ICT Polarized Skill Demand? Evidence from Eleven Countries over 25 Years

Michaels, Guy; Natraj, Ashwini; Reenen, John Van - Centre for Economic Performance, LSE - 2010

middle educated workers. Trade openness is also associated with polarization, but this is not robust to controls for …

Persistent link: https://www.econbiz.de/10008542740