Abstract This paper challenges the common assumption of perfect market segmentation in models based on monopolistic competition. We develop a tractable approach to analyze export entry and pricing decisions of firms and show that the trade costs triangle condition (absence of potential re‐exporting arbitrage) imposes constraints on firm‐level export prices, which have first‐order implications for trade and welfare. We provide empirical evidence that the triangle condition is violated in the data and quantify the importance of these violations in a general equilibrium setting.
{"title":"Integrated versus segmented markets: Implications for export pricing and welfare","authors":"Raphael Becker, Sergey Nigai, Tobias Seidel","doi":"10.1111/roie.12660","DOIUrl":"https://doi.org/10.1111/roie.12660","url":null,"abstract":"Abstract This paper challenges the common assumption of perfect market segmentation in models based on monopolistic competition. We develop a tractable approach to analyze export entry and pricing decisions of firms and show that the trade costs triangle condition (absence of potential re‐exporting arbitrage) imposes constraints on firm‐level export prices, which have first‐order implications for trade and welfare. We provide empirical evidence that the triangle condition is violated in the data and quantify the importance of these violations in a general equilibrium setting.","PeriodicalId":47712,"journal":{"name":"Review of International Economics","volume":"236 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135793615","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
By exploiting spatial variation in import exposure arising from initial differences in industry specialization, we analyze how local labor markets in Mexico adjusted to increased Chinese-import competition over different time horizons. The initial adjustment to the shock took various forms: a decline in the number of wage employees, a substitution of wage employees with piece-rate or outsourced workers, and a substitution of formal employees with informal employees. The negative effects on employment were mainly associated with job destruction from exiting firms, particularly those that were small and medium-sized. During periods in which employment fell, the population that actively participated in the labor force fell. The negative short- and medium-run effects mostly disappeared after 20 years.
{"title":"Short- and Long-Run Labor Market Adjustment to Import Competition","authors":"J. Blyde, Matías Busso, K. Park, Dario A. Romero","doi":"10.18235/0004703","DOIUrl":"https://doi.org/10.18235/0004703","url":null,"abstract":"By exploiting spatial variation in import exposure arising from initial differences in industry specialization, we analyze how local labor markets in Mexico adjusted to increased Chinese-import competition over different time horizons. The initial adjustment to the shock took various forms: a decline in the number of wage employees, a substitution of wage employees with piece-rate or outsourced workers, and a substitution of formal employees with informal employees. The negative effects on employment were mainly associated with job destruction from exiting firms, particularly those that were small and medium-sized. During periods in which employment fell, the population that actively participated in the labor force fell. The negative short- and medium-run effects mostly disappeared after 20 years.","PeriodicalId":47712,"journal":{"name":"Review of International Economics","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-01-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44260163","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Chinese firms faced an all-around trade liberalization process during the early 2000s: lower barriers from other countries on Chinese goods, and lower Chinese barriers on other countries’ goods and inputs. Using novel firm-level tariff data for trading Chinese manufacturing firms, this paper disentangles the effects of each type of trade liberalization on Chinese firm-level em-ployment. For each firm type, reductions in Chinese and foreign final-good tariffs are associated with job destruction in low-productivity firms and job creation in high-productivity firms. In contrast, the net effect of reductions in Chinese input tariffs is limited to job destruction in low-productivity ordinary exporters.
{"title":"All‐around trade liberalization and firm‐level employment: Theory and evidence from China","authors":"Antonio Rodriguez‐Lopez, Miaojie Yu","doi":"10.1111/roie.12655","DOIUrl":"https://doi.org/10.1111/roie.12655","url":null,"abstract":"Chinese firms faced an all-around trade liberalization process during the early 2000s: lower barriers from other countries on Chinese goods, and lower Chinese barriers on other countries’ goods and inputs. Using novel firm-level tariff data for trading Chinese manufacturing firms, this paper disentangles the effects of each type of trade liberalization on Chinese firm-level em-ployment. For each firm type, reductions in Chinese and foreign final-good tariffs are associated with job destruction in low-productivity firms and job creation in high-productivity firms. In contrast, the net effect of reductions in Chinese input tariffs is limited to job destruction in low-productivity ordinary exporters.","PeriodicalId":47712,"journal":{"name":"Review of International Economics","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-01-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48996099","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Aaron Flaaen, Flora Haberkorn, Logan Lewis, Anderson Monken, Justin Pierce, Rosemary Rhodes, Madeleine Yi
Abstract We evaluate high‐frequency bill of lading data for international trade research. These data offer some advantages over both other publicly accessible trade data and confidential datasets, but they also have drawbacks. We analyze three aspects of trade during the COVID‐19 pandemic. First, we show how the high‐frequency data capture the within‐month collapse of trade between the United States and India that are not observable in official monthly data. Second, we demonstrate how U.S. buyers shifted their purchases across suppliers over time during the recovery. And third, we show how the data can measure vessel delivery bottlenecks in near real time.
{"title":"Bill of lading data in international trade research with an application to the COVID‐19 pandemic","authors":"Aaron Flaaen, Flora Haberkorn, Logan Lewis, Anderson Monken, Justin Pierce, Rosemary Rhodes, Madeleine Yi","doi":"10.1111/roie.12657","DOIUrl":"https://doi.org/10.1111/roie.12657","url":null,"abstract":"Abstract We evaluate high‐frequency bill of lading data for international trade research. These data offer some advantages over both other publicly accessible trade data and confidential datasets, but they also have drawbacks. We analyze three aspects of trade during the COVID‐19 pandemic. First, we show how the high‐frequency data capture the within‐month collapse of trade between the United States and India that are not observable in official monthly data. Second, we demonstrate how U.S. buyers shifted their purchases across suppliers over time during the recovery. And third, we show how the data can measure vessel delivery bottlenecks in near real time.","PeriodicalId":47712,"journal":{"name":"Review of International Economics","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135345377","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Chinese regions' participation in global value chains and the associated global transmission of export price and quantity shocks","authors":"P. Egger, Jie Li, Yu Zhao","doi":"10.1111/roie.12658","DOIUrl":"https://doi.org/10.1111/roie.12658","url":null,"abstract":"","PeriodicalId":47712,"journal":{"name":"Review of International Economics","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-01-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45426419","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Monetary policy transparency and real exchange rate adjustment","authors":"Zheng‐Hao Lai, Jyh‐Lin Wu","doi":"10.1111/roie.12659","DOIUrl":"https://doi.org/10.1111/roie.12659","url":null,"abstract":"","PeriodicalId":47712,"journal":{"name":"Review of International Economics","volume":"1 1","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-01-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"63682734","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Heterogeneous effects of\u0000 Aid‐for‐Trade\u0000 on donor exports: Why is Japan different?","authors":"Shuhei Nishitateno, Hayato Umetani","doi":"10.1111/roie.12656","DOIUrl":"https://doi.org/10.1111/roie.12656","url":null,"abstract":"","PeriodicalId":47712,"journal":{"name":"Review of International Economics","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45343141","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Juan Camilo Domínguez, J. Eaton, Marcela Eslava, J. Tybout
Why do most new exporters quickly abandon foreign markets after shipping very small amounts? And why do surviving exporters ramp their sales up gradually over a period of many years? A large literature uses models and customs records to address these questions. We complement these studies by conducting case study interviews with a small set of Colombian manufacturers. Inter alia, we find that establishing a lasting foreign market presence involves a costly search and learning process, with valuable knowledge coming from initial failures.
{"title":"Search and learning in export markets: Evidence from interviews with Colombian exporters","authors":"Juan Camilo Domínguez, J. Eaton, Marcela Eslava, J. Tybout","doi":"10.1111/roie.12654","DOIUrl":"https://doi.org/10.1111/roie.12654","url":null,"abstract":"Why do most new exporters quickly abandon foreign markets after shipping very small amounts? And why do surviving exporters ramp their sales up gradually over a period of many years? A large literature uses models and customs records to address these questions. We complement these studies by conducting case study interviews with a small set of Colombian manufacturers. Inter alia, we find that establishing a lasting foreign market presence involves a costly search and learning process, with valuable knowledge coming from initial failures.","PeriodicalId":47712,"journal":{"name":"Review of International Economics","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-01-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42508452","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
M. Hadzi-Vaskov, L. Ricci, Alejandro M. Werner, Rene Zamarripa
{"title":"What drives economic growth forecast revisions?","authors":"M. Hadzi-Vaskov, L. Ricci, Alejandro M. Werner, Rene Zamarripa","doi":"10.1111/roie.12653","DOIUrl":"https://doi.org/10.1111/roie.12653","url":null,"abstract":"","PeriodicalId":47712,"journal":{"name":"Review of International Economics","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2022-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48483797","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Two‐sided heterogeneity: New implications for input trade","authors":"Tomohiro Ara","doi":"10.1111/roie.12652","DOIUrl":"https://doi.org/10.1111/roie.12652","url":null,"abstract":"","PeriodicalId":47712,"journal":{"name":"Review of International Economics","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2022-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47735593","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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