Search Results
Journal Article
Current risks from exports and foreign sales
Consistent with national data, foreign sales of affiliates of U.S. multinational firms headquartered in the Eight Federal Reserve District are larger for Europe and the Asia Pacific region?not Mexico and Canada, the major U.S. trading partners.
Journal Article
Net exports' recent (and surprising?) contribution to GDP growth
Journal Article
Commercial bank lending data during the crisis: handle with care
Caution is necessary when making inferences based solely on aggregate loans data.
Journal Article
The role of financing in international trade during good times and bad
The collapse of trade during the financial crisis can be tied, for the most part, to a drop in demand. Less talked about, however, is the role of financing?or lack thereof.
Working Paper
International trade, female labor, and entrepreneurship in MENA countries
Middle Eastern and North African (MENA) countries stand out in international comparisons of de jure obstacles to female employment and entrepreneurship. These obstacles are mirrored in low female labor rate participation and low entrepreneurship and ownership rates. Recent research suggests a connection between international trade and female labor participation. In this article, the authors focus on the relationship between international trade and gender in the MENA countries first analyzing female labor as a production factor, and then focusing on female entrepreneurship and firm ownership. ...
Journal Article
Are bank reserves and bank lending connected?
As long as the strength of the recovery remains uncertain, there are few other investment opportunities, after adjusting for risk and taxes, with anticipated returns greater than the near-zero interest the Federal Reserve pays on deposits.
Journal Article
Multinationals from emerging economies: growing but little understood
Their share of the foreign investment pie grew from 0.4 percent in 1970 to 15.8 percent in 2008. What's behind the growth?
Working Paper
How does multinational production change international comovement?
I study the aggregate implications of the entry of Multinational Firms (MNFs) in a two country Dynamic Stochastic General Equilibrium model in which firms have heterogeneous productivity in the sense of Ghironi and Melitz (2005). Unlike the extant open economy macroeconomics literature, this model endogenizes both multinational production and exports as possible strategies of internationalization of production, a feature that substantially improves the match between model-simulated moments and business cycle data along two dimensions. First, once I allow for concurrent entry (and exit) of ...
Journal Article
U.S. trade springs back
The evidence suggests that the combination of a slowdown in trade finance and inventory adjustments likely explain the recent trade dynamics.
Journal Article
Banking crises around the world: different governments, different responses
Over the past 40 years, there have been more than 120 banking crises around the world. Different governments have responded in different ways. The gross and net costs as a percentage of GDP range wildly, anywhere from less than 1 percent to well beyond 30 percent.