Sourcing foreign inputs to improve firm performance

Maria Bas, Vanessa Strauss-Kahn 14 July 2014

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Should trade policy fight or promote imports of intermediate inputs? While several studies have shown the recent increase in imports of intermediate goods, their role in shaping domestic economies is not yet completely understood. Following the work of Feenstra and Hanson (1996), a large literature focuses on the impact of imported intermediate inputs on employment and inequality. It concludes that, like outsourcing, imported intermediate inputs have a role (although limited) in explaining job losses and wage reductions.

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Topics:  International trade

Tags:  employment, productivity, wages, Inequality, trade, exports, outsourcing, imports, global value chains, Intermediate inputs

Globalisation, job security, and wages

Kerem Cosar, Nezih Guner, James R Tybout 07 July 2014

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How does increased openness to international trade affect workers’ wages and job security? This question is central to the public debate concerning the effects of globalisation, but convincing quantitative answers have been difficult to come by. One fundamental reason is that major trade liberalisation episodes have often coincided with labour reforms (Heckman and Pages 2004). Colombia is a case in point. As Figure 1 shows, this country experienced deindustrialisation, higher job turnover rates, and heightened wage inequality in the years following its 1986–1991 trade liberalisation.

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Topics:  International trade Labour markets

Tags:  productivity, unemployment, globalisation, wages, trade liberalisation, Inequality, labour market reforms, exports, Colombia, job security

Eurozone external adjustment and real exchange rate movements: The role of firm productivity distribution

Filippo di Mauro, Francesco Pappadà 02 June 2014

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A corollary of the Eurozone crisis has been an unusually large current-account surplus for the Eurozone as a whole, resulting from a combination of strong external demand and rapid readjustment of external accounts in the Eurozone countries that had previously accumulated large imbalances.

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Topics:  Europe's nations and regions Exchange rates

Tags:  eurozone, exchange rates, productivity, imbalances, exports, rebalancing

High-end variety exporters defying distance: Macro implications

Julien Martin, Florian Mayneris 04 December 2013

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Vox columns by Peter Schott (2007) and Fontagné et al. (2008) have argued that developed countries specialise in the production of high-end varieties – expensive varieties of a product which have specific attributes such as reputation, branding, or quality that make them appealing to consumers in spite of their higher price. A few papers have examined the implications of such a specialisation for the labour market (e.g. Verhoogen 2008). However, while policymakers and academics encourage specialisation in high-end varieties, the macroeconomic consequences have not yet been examined.

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Topics:  International trade

Tags:  France, trade, exports, luxury goods

Exports and property prices: Are they connected?

Balázs Égert, Rafał Kierzenkowski 02 October 2013

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A marked decline in France’s export-market shares

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Topics:  Europe's nations and regions International trade

Tags:  France, housing, exports, real estate

Export-market exit during the crisis: Evidence from the UK

Holger Görg, Marina-Eliza Spaliara 13 September 2013

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International trade declined dramatically during the Global Crisis (WTO 2012). Economists have offered various explanations for this (see Baldwin 2009):

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Topics:  Europe's nations and regions International trade

Tags:  exports, UK

When Harry meets Sally: The buyer margins of firms’ exports

Jerónimo Carballo, Gianmarco I.P. Ottaviano, Christian Volpe Martincus 11 September 2013

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Locating a buyer is one of the most important barriers for firms trying to penetrate new markets (e.g., Kneller and Pisu 2011). Investment in gathering these data may be socially suboptimal because information can spill over to other companies. Unsurprisingly, governments around the world implement programmes to help firms find buyers. For example, the US Department of Commerce assists exporters in identifying and qualifying lead for potential buyers, both through general online matchmaking mechanisms and customised services (e.g., Gold Key Matching Service).

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Topics:  International trade

Tags:  exports, export buyers

Preparing to export

Danielken Molina, Marc Muendler 27 May 2013

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Exporting is an essential feature of strategies for economic development for very good reasons. A large body of empirical evidence shows that exporters are larger, more productive, pay higher wages and hire more skilled workers (Bernard and Jensen 1995). But do firms move from local sales to export sales? What choices do firms make in preparation for exporting? How do these choices affect a firm’s future export performance?

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Topics:  Development

Tags:  Labour Markets, exports, firms

Why do large movements in exchange rates have small effects on international prices?

Mary Amiti, Oleg Itskhoki, Jozef Konings 19 February 2013

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Exchange rate moves have surprisingly small effects on prices. This apparent ‘disconnect’ is one of the central puzzles in international macroeconomics. It is also a continual headache for policymakers who rely on exchange rates to accommodate the adjustment of global (current account) imbalances. The main mechanism is a change in relative prices that shifts expenditure towards countries whose currency has depreciated. If prices don’t respond sufficiently to exchange rates then neither do quantities, and the expenditure-switching role of exchange rates is diminished (see Engel 2003).

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Topics:  Exchange rates

Tags:  competitiveness, euro, exports, imports, Eurozone crisis

The real exchange rate and export growth: Are services different?

Barry Eichengreen, Poonam Gupta 18 January 2013

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The role of exports in economic growth and, in turn, of the real exchange rate in export promotion features prominently in literature on development and globalisation (Rodrik 2009, Haddad and Pancaro 2010). Much of this literature dates, however, from an era when ‘exports’ meant ‘exports of merchandise‘. Today, ‘exports’ increasingly means ‘exports of services’. This raises the question of whether the emphasis in the earlier literature on the importance of a competitively valued exchange rate for promoting exports carries over to this new environment.

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Topics:  Exchange rates International trade

Tags:  exchange rates, exports, services

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