International Balance of Payments Financing and Adjustment
In: NBER Working Paper No. w1120
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In: NBER Working Paper No. w1120
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In: NBER Working Paper No. w0777
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Working paper
In: NBER Working Paper No. w0797
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Customs data reveal heterogeneity and granularity of relationships among buyers and sellers. A key insight is how more exports to a destination break down into more firms selling there and more buyers per exporter. We develop a quantitative general equilibrium model of firm-to-firm matching that builds on this insight to separate the roles of iceberg costs and matching frictions in gravity. In the cross section, we find matching frictions as important as iceberg costs in impeding trade, and more sensitive to distance. Because domestic and imported intermediates compete directly with labor in performing production tasks, our model also fits the heterogeneity of labor shares across French producers. Applying the framework to the 2004 expansion of the European Union, reduced iceberg costs and reduced matching frictions contributed equally to the increase in French exports to the new members. While workers benefited overall, those competing most directly with imports gained less, even losing in some countries entering the EU.
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In: Journal of economic dynamics & control, Band 72, S. 5-23
ISSN: 0165-1889
In: Revue économique, Band 64, Heft 3, S. 405-420
ISSN: 1950-6694
Entre 2007 et 2011 le chômage s'est accru notablement dans la plupart des pays européens. Durant la même période, les déficits extérieurs de nombreux pays européens se sont fortement réduits. Nous utilisons un modèle d'équilibre général, de type ricardien et reposant sur des rigidités salariales, couvrant trente-quatre pays, pour analyser la relation entre les ajustements extérieurs, les pnb relatifs et le chômage durant cette période. Notre analyse permet de décomposer les mécanismes d'ajustement par le biais du chômage et de la baisse des salaires. Le chômage a joué le rôle le plus important, mais les baisses du pnb nominal se sont mieux reflétées dans le pnb réel. JEL Code: F16, F32
In: American economic review, Band 97, Heft 2, S. 351-355
ISSN: 1944-7981
In: American economic review, Band 94, Heft 2, S. 150-154
ISSN: 1944-7981
In: Economic policy, Band 13, Heft 27, S. 403-438
ISSN: 1468-0327
In: CEPR Discussion Paper No. DP16997
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In: NBER Working Paper No. w21774
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In: NBER Working Paper No. w17864
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In: NBER Working Paper No. w13846
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In: NBER Working Paper No. w14610
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