Title:Productivity Growth, Bounded Marginal Utility, and Patterns of Trade
Author(s):SAURE, PhilipDate:2007Type of Publication:Working PaperSeries/Report no.:EUI MWPAbstract:The workhorse model of the New Trade Theory fails to explain four strong and central
patterns of postwar trade data. These patterns are, first, the massive increase in trade
volumes, second, the small fraction of traded ...
Title:Productivity Growth, Bounded Marginal Utility, and Patterns of Trade
Author(s):SAURE, PhilipDate:2007Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:The workhorse model of the New Trade Theory fails to explain four strong and central
patterns of postwar trade data. These patterns are, first, the massive increase in trade
volumes, second, the small fraction of traded ...
Title:Productivity Spillovers, Terms of Trade and the 'Home Market Effect'
Author(s):CORSETTI, Giancarlo; MARTIN, Philippe; PESENTI, PaoloDate:2005Type of Publication:Working PaperSeries/Report no.:NBER Working PapersAbstract:This paper analyzes the welfare implications of international spillovers related to productivity gains, changes in market size, or government spending. We introduce trade costs and endogenous varieties in a two-country ...
Title:Productivity Spillovers, Terms of Trade and the 'Home Market Effect'
Author(s):CORSETTI, Giancarlo; MARTIN, Philippe; PESENTI, PaoloDate:2005Type of Publication:Working PaperSeries/Report no.:CEPR Discussion PapersAbstract:This paper analyses the welfare implications of international spillovers related to productivity gains, changes in market size, or government spending. We introduce trade costs and endogenous varieties in a two-country ...
Title:Productivity, External Balance and Exchange Rates: Evidence on the Transmission Mechanism among G7 Countries
Author(s):CORSETTI, Giancarlo; DEDOLA, Luca; LEDUC, SylvainDate:2006Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:This paper investigates the international transmission of productivity shocks
in a sample of ve G7 countries. For each country, using long-run restrictions,
we identify shocks that increase permanently domestic labor ...
Title:Prudent Budgetary Policy Political Economy of Precautionary Taxation
Author(s):VAN DER PLOEG, FrederickDate:2007Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:The theory of tax smoothing and determination of public debt with uncertain future national
income is extended for prudence. A prudent government deliberately underestimates future
national income and the tax base, ...
Title:Prudent Monetary Policy and Cautious Prediction of the Output Gap
Author(s):VAN DER PLOEG, FrederickDate:2007Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:ABSTRACT
Using the results of risk-adjusted linear-quadratic-Gaussian optimal control with perfect and imperfect observation of the economy, we obtain prudent Taylor rules for monetary policies and also allow for imperfect ...