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Port Efficiency, Maritime Transport Costs and Bilateral Trade
Clark, Ximena; Dollar, David; Micco, Alejandro - 2021
world. Distance volumes and product characteristics matter. In addition, we find that ports efficiency is an important … determinant of shipping costs. Improving port efficiency from the 25th to the 75th percentile reduces shipping costs by 12 percent ….S. markets than import tariffs. We investigate the determinants of shipping costs to the U.S. with a large database of more than …
Persistent link: https://www.econbiz.de/10013233046
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The Trade Reducing Effects of Market Power in International Shipping
Hummels, David L. - 2007
distance, and significantly contribute to the higher shipping prices facing the developing world. Markups increase shipping … and perhaps lower incomes. This paper investigates price discrimination in the shipping industry and the role it plays in … determining transportation costs. In the presence of market power, shipping prices depend on the demand characteristics of goods …
Persistent link: https://www.econbiz.de/10012777612
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Global Trade and the Maritime Transport Revolution
Jacks, David S. - 2010
What is the role of transport improvements in globalization? We argue that the nineteenth century is the ideal testing ground for this question: freight rates fell on average by 50% while global trade increased 400% from 1870 to 1913. We estimate the first indices of bilateral freight rates for...
Persistent link: https://www.econbiz.de/10012759104
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Freight Rates and Productivity Gains in British Tramp Shipping 1869-1950
Mohammed, Saif I. Shah; Williamson, Jeffrey G. - 2022
The standard source for pre-WWII global freight rate trends is the Isserlis British tramp shipping index. We think it … the precipitous decline in nominal freight rates before the World War I, but it also extends the series to the 1940s …. Furthermore, our new series is linked to the post-World War II era (documented by David Hummels), so that we can be more precise …
Persistent link: https://www.econbiz.de/10013292457
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Waves in Ship Prices and Investment
Greenwood, Robin M. - 2013
We study the returns to owning dry bulk cargo ships. Ship earnings exhibit a high degree of mean reversion, driven by industry participants' competitive investment responses to shifts in demand. Ship prices are far too volatile given the mean reversion in earnings. We show that high current ship...
Persistent link: https://www.econbiz.de/10013078599
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Collusive Investments in Technological Compatibility : Lessons from U.S. Railroads in the Late 19th Century
Gross, Daniel P. - 2019
Collusion is widely condemned for its negative effects on consumer welfare and market efficiency. In this paper, I show that collusion may also in some cases facilitate the creation of unexpected new sources of value. I bring this possibility into focus through the lens of a historical episode...
Persistent link: https://www.econbiz.de/10012862849
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Country Heterogeneity and the International Evidence on the Effects of Fiscal Policy
Favero, Carlo A. - 2011
This paper shows how the richer frequency and variety of fiscal policy shocks available in an international sample can be analyzed recognizing the heterogeneity that exists across different countries. The main conclusion of our empirical analysis is that the question "what is the fiscal policy...
Persistent link: https://www.econbiz.de/10013121730
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Health, Human Capital Formation and Knowledge Production : Two Centuries of International Evidence
Madsen, Jakob B. - 2012
Recent medical research shows that health is highly influential for learning and the ability to think laterally; however, past economic studies have failed to empirically examine the influence of health on learning, schooling, and ideas production; the main drivers of growth in endogenous growth...
Persistent link: https://www.econbiz.de/10013099411
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Taxes and the Global Allocation of Capital
Backus, David K. - 2007
Despite enormous growth in international capital flows, capital-output ratios continue to exhibit substantial heterogeneity across countries. We explore the possibility that taxes, particularly corporate taxes, are a significant source of this heterogeneity. The evidence is mixed. Tax rates...
Persistent link: https://www.econbiz.de/10012775558
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Turbulence, Firm Decentralization and Growth in Bad Times
Aghion, Philippe - 2017
What is the optimal form of firm organization during “bad times”? We present a model of delegation within the firm to show that the effect is ambiguous. The greater turbulence following macro shocks may benefit decentralized firms because the value of local information increases (the...
Persistent link: https://www.econbiz.de/10012957377