The seminar takes place every two weeks on Tuesday, 2. The seminar presents recent works by French and foreign scholars about International trade and its trading seminar with other fields. The seminar has become a major meeting point for trade economists in Paris. Consequently trading seminar is scheduled to have informal discussions between participants and the speaker at the end of the seminar.
This seminar is organised by J. This paper quantifies the origins of firm size heterogeneity when firms are interconnected in a production network. We document new stylized facts about the universe of buyer-supplier relationships among all firms in Belgium during These facts motivate a model in which firms buy inputs from upstream suppliers and sell to downstream buyers and final demand.
Firms can be large not only because they have high production capability i. We establish three empirical results. Third, the extensive margin of the production network dominates the intensive margin.
Most of the variance in the network demand and network supply components of trading seminar size is determined by the number trading seminar customers and suppliers, rather than their size or capability. Second most important is that firms transact more with partners that are simultaneously more capable and better bilateral matches. Iceberg transport trading seminar are one of the main ingredients of modern trade and economic geography models: In this paper, we investigate whether the iceberg assumption applies to the costs of transporting the only good trading seminar literally melts in transit: Using detailed information on Boston's worldwide nineteenth-century Frozen Water Trade, we show that iceberg transport costs in practice were a combination of a true ad-valorem iceberg cost: The physics of the melt process and the practice of insulating the ice in transit imply an immediate violation of the iceberg assumption: This paper studies the trading seminar effect of sharing a common native trading seminar on international trade.
Switzerland is a multilingual country that hosts four official language groups of which three are major French, German, and Italian. These groups of native language speakers are geographically separated, with the corresponding regions bordering countries which share a majority of speakers of the same native language. All of the three main languages are trading seminar and spoken by most Swiss citizens, especially the ones residing close to internal language borders in Switzerland.
This unique setting allows for an assessment of the impact of common native rather than spoken language as a cultural aspect of language on trade from within country-pairs.
We do so by exploiting the discontinuity in various international bilateral trade outcomes based on Swiss transaction-level data at historical language borders within Switzerland. Trading seminar effect on various margins of imports is positive and significant.
The results suggest that, on average, common native language between regions biases the regional structure of the value of international imports towards them by 18 percentage points and that of the number of import transactions by 20 percentage points.
In addition, regions import additional products trading seminar a neighboring country sharing a common native language compared to a different native language exporter.
This effect is considerably lower than the overall estimate using aggregate bilateral trade and no regression discontinuity design of common official language on Swiss international imports in the same sample.
The latter subsumes both the effect of common spoken language as a communication factor and of confounding economic and institutional factors trading seminar is quantitatively well in line with the common official spoken or native language coefficient in many gravity model estimates of trading seminar trade.
This study uses a unique dataset to provide the first comprehensive empirical test of the theory of financing terms in international trade. The results conform with the main prediction of the theory: The data also support a simple theoretical extension predicting that product differentiation reinforces the positive effect of the institutional quality on exporter-financed exports.
Finally, the results suggest that importer and bank-financed exports fell relative to exporter-financed exports during the Great Recession, with the gap widening with the severity of the crisis in the destination country. Calibrating trading seminar to key U. In explicating the dynamics and welfare implications of gradual labor market adjustment to trade, this paper develops a dynamic Heckscher-Ohlin-Samuelson model with sector-specfic human capital and overlapping generations.
Our model is tractable enough to yield sharp analytic results, that complement and clarify an emerging trading seminar literature on labor market adjustment to trade. Existing generations that have accumulated specfic human capital in one sector can switch sectors when the economy is hit by a trade shock.
Yet, we show that the shock actually induces few workers to switch, instead there is a protracted adjustment that operates trading seminar the entry of new generations.
This results into wages being tied to the sector of employment in the short-run but to the skill type in the long-run. The welfare and policy implications are surprising: Despite restrictive migration policies, large numbers of undocumented migrants reside in many destination countries. If official migration targets are not enforced, why are they devised?
To address this puzzle, we develop a trading seminar agency model with uncertainty trading seminar the supply of migrants, where an elected official can either have preferences congruent with the majority of his electorate, or desire a larger number of migrants. In the latter scenario we show that the incumbent might find it optimal to set a binding migration quota to be re-elected, and strategically relax its enforcement, or choose an ineffective instrument like border control.
The diversity of people has economic costs and benefits. We show that birthplace diversity is largely uncorrelated with ethnic and linguistic fractionalization and that—unlike fractionalization—it is positively related to economic development even after controlling for education, institutions, ethnic and linguistic fractionalization, trade openness, geography, market size and origin-effects. This positive association appears particularly strong for the diversity of skilled immigrants in richer countries.
We make progress towards addressing endogeneity by trading seminar a gravity model to predict the diversity of immigration based on exogenous bilateral variables. The interaction between credit frictions, financial innovation, and a switch from optimistic to pessimistic beliefs played a central role in the financial crisis. This paper develops a quantitative general equilibrium framework in which this interaction drives the financial amplification mechanism to study the effects of macro-prudential policy.
Financial innovation enhances the ability of agents to collateralize assets into debt, but the riskiness of this new regime can only be learned over time. Beliefs about transition probabilities across states with high and low ability to trading seminar change as agents learn from observed realizations of financial conditions. At the trading seminar time, the collateral constraint trading seminar a pecuniary trading seminar, because agents fail to internalize the effect of their borrowing decisions on asset prices.
Quantitative analysis shows that the effectiveness of macro-prudential policy in this environment depends on the government's information set, the tightness of credit constraints and the pace at which optimism surges in the early stages of financial innovation.
The policy is least effective when the government is as uninformed as private agents, credit constraints are tight, and optimism builds quickly. In this paper, we merge the heterogenous firm model of Melitz with trading seminar Ricardian model of Dornbusch, Fisher and Samuelson DFS to explain how the pattern of international specialization and trade is determined by the interaction of comparative advantage, economies of scale, country sizes and trade barriers.
The model is able to capture the existence of inter-industry trade and intra-industry trade in a single unified framework. It explains how trade openness affects the pattern of international trading seminar and trade. Although trade openness is proved to be unambiguously welfare-improving in both countries, trade liberalization can lead to an anti- Melitz effect in the larger country if it is sufficiently uncompetitive in the sectors in which it has the strongest comparative disadvantage but in which it still produces.
In this case, the operating productivity cutoff is lowered trading seminar the exporting cutoff increases in the face of trade liberalization. This is because the DFS effect dominates the Melitz effect in these sectors. Consequently, the larger country trading seminar lose from trade liberalization. But our data reveal a startling variation in productivity levels of subsidiaries across countries of the same trading seminar firms suggesting that not all multinationals transplant their home productivity advantage to other countries.
One candidate for this startling difference in productivity levels among subsidiaries is the ability of multinationals to transport their business model abroad. This paper examines the conditions under which multinationals transplant their business culture to other countries. We collect original and unique matched parent and affiliate data on the internal organisation of German and Austrian parent firms and of their subsidiaries trading seminar Eastern Europe.
Based on these data we ask two questions: First, what trading seminar decentralization in Foreign Affiliates of Multinationals?
Second, what determines whether or not multinationals transplant theirs business model to foreign affiliates? We find that the ability of multinationals to transplant their business model to foreign affiliates is determined by the organisation of the multinational organization on the one hand and the market environment affiliate firms face in host countries on the other hand. A striking feature of many financial crises is the collapse of exports relative to output.
In the financial crisis, real world exports plunged 17 percent while GDP fell 5 percent. This paper examines whether the drying up of trade finance can help explain the large drops in exports relative to output. We overcome measurement and endogeneity issues by using a unique data set, covering the Japanese financial crises of the s, which enables us to match exporters with the main bank that provides them with trade trading seminar. Our point estimates are economically and statistically significant, suggesting that trade trading seminar accounts for about one-third of the trading seminar in Japanese exports in the financial crises of the s.
High trade between countries with colonial ties may be explained by government policies that establish preferential access or as a consequence of networks formed through social interactions. Using bilateral trade data from towe examine the effect of independence on post-colonial trade.
The severing of formal colonial trading seminar can lead to an immediate trading seminar in trade as preferential access is eliminated as well as a gradual reduction corresponding to the deterioration of trading networks. Trading seminar results reveal that independence reduces colonial trade with its colonizer trading seminarthe reduction cumulates over a year period, and the disruption is particularly severe for hostile separations. We also find that overall colonial trade falls subsequent to independence, but trading seminar a lesser extent than trade with trading seminar metropole.
We present a new model of multi-product firms MPFs and flexible manufacturing and explore its implications in partial and general equilibrium. International trade integration affects the scale and scope of MPFs through a competition effect and a demand trading seminar.
We demonstrate how MPFs adjust in trading seminar presence of single-product firms and in heterogeneous industries. Our results are in line with recent empirical evidence and suggest that MPFs in conjunction with flexible manufacturing play an important role in the impact of international trade on product diversity.
Foreign-owned firms have, on average, higher productivity in equilibrium due to entry costs, which means that low-productivity foreign trading seminar cannot enter. Foreign firms have higher wage growth and, with some exceptions, pay higher average trading seminar, but not when compared to similarly large domestic firms. The empirical implications of the trading seminar are tested on matched employer-employee data from Denmark.
These effects survive controlling for individual characteristics, but, as expected, are reduced significantly when controlling for unobservable firm heterogeneity. Furthermore, acquired skills in foreign-owned and large firms appear to be transferable to both subsequent wage work and trading seminar. This paper examines the multi-cone specification of the factor proportion theory of international trade. The paper shows trading seminar consumption risk sharing is prevalent even among economies with poor institutions, in particular those with serious expropriation risk, limited enforce- ability of contracts, high corruption and poor property rights.
If institutions are poor, however, the country must be open to international markets for risk sharing to be possi- trading seminar. Thus, even if institutions are such that contract repudiation or con…scation are possible de jure, borrowing economies that are open will rarely practice them de facto.
Foreign investors anticipate this, and act to diversify risk. Diversi…cation motives may still be present, but they take second stage. We con…rm this conjecture showing that all classes of trading seminar, but especially FDI display a strong non-linear relation with the institutional environment. Institutions are crucial in attracting capital for closed economies, but are barely relevant in open ones.
In the present paper we attempt to estimate the effects of initiating production abroad through the establishment of a foreign production affiliate. We consider the impact of becoming a multinational on the level of employment, the degree of skill-intensity and productivity performance using data for French firms during the period In order to solve the problem of the missing counterfactual we adopt matching techniques in trading seminar with trading seminar difference-in-difference DID estimator.
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