Search Results
Working Paper
Cross-border Patenting, Globalization, and Development
Martinez-Zarzoso, Immaculada; LaBelle, Jesse; Yotov, Yoto; Santacreu, Ana Maria
(2024-01)
We build a stylized model that captures the relationships between cross-border patenting, globalization, and development. Our theory delivers a gravity equation for cross-border patents. To test the model’s predictions, we compile a new dataset that tracks patents within and between countries and industries, for 1980-2019. The econometric analysis reveals a strong, positive impact of policy and globalization on cross-border patent flows, especially from North to South. A counterfactual welfare analysis suggests that the increase in patent flows from North to South has benefited both ...
Working Papers
, Paper 2023-031
Social Distancing and Contact-Intensive Occupations
Famiglietti, Matthew; Leibovici, Fernando; Santacreu, Ana Maria
(2020-03-24)
Some jobs certainly require more close interaction with other folks than other jobs. Which occupations are the most interactive, and which states have higher shares of these jobs?
On the Economy
Journal Article
TFP, Capital Deepening, and Gains from Trade
Ravikumar, B.; Santacreu, Ana Maria; Sposi, Michael
(2023-07-14)
Using a dynamic, multicountry model with capital accumulation, we compute the exact transition paths for 93 countries following a permanent, uniform, unanticipated trade liberalization and calculate the resulting welfare gains from trade. We find that while the dynamic gains are different across countries, consumption transition paths look similar except for scale. In addition, dynamic gains accrue gradually and are about 60 percent of steady-state gains for everycountry. Finally, the contribution of capital accumulation to dynamic gains is four times that of total factor productivity.
Review
, Volume 105
, Issue 3
, Pages 150-176
Journal Article
The Economic Effects of the 2018 U.S. Trade Policy: A State-Level Analysis
Santacreu, Ana Maria; Peake, Makenzie
(2020-10-22)
We evaluate, empirically, the effect of changes in trade policy during the 2018-19 trade war on U.S. economic activity. We begin by documenting that sectors and states across the United States are heterogeneous in their exposure to international trade. To do that, we construct a measure of exposure that combines the share of a sector’s gross output that is accounted for by trade with the pattern of comparative advantage of each state in that sector. We then exploit cross-state heterogeneity in exposure to international trade and correlate it with measures of economic activity across U.S. ...
Review
, Volume 102
, Issue 4
, Pages 385-412
Trade Wars, Tech Rivalry and Geopolitical Tensions
Santacreu, Ana Maria; Moore, Samuel
(2024-09-03)
An analysis of 'geopolitical distance' and exports highlights the links between geopolitical alignment and access to U.S. technology and goods.
On the Economy
Journal Article
Employment and Capacity Utilization Over the Business Cycle
Santacreu, Ana Maria
(2016)
Capacity and employment are affected by cyclical factors, but employment must also adjust to structural factors.
Economic Synopses
, Issue 19
, Pages 1-2
Journal Article
Global Supply Chain Disruptions and Inflation During the COVID-19 Pandemic
LaBelle, Jesse; Santacreu, Ana Maria
(2022)
We investigate the role supply chain disruptions during the COVID-19 pandemic played in U.S. producer price index (PPI) inflation. We exploit pre-pandemic cross-industry variation in sourcing patterns across countries and interact it with measures of international supply chain bottlenecks during the pandemic. We show that exposure to global supply chain disruptions played a significant role in U.S. cross-industry PPI inflation between January and November 2021. If bottlenecks had followed the same path as in 2019, PPI inflation in the manufacturing sector would have been 2 percentage points ...
Review
, Volume 104
, Issue 2
, Pages 78-91
Working Paper
Knowledge Diffusion, Trade and Innovation across Countries and Sectors
Santacreu, Ana Maria; Li, Nan; Cai, Jie
(2019-11-18)
We provide a unified framework for quantifying the cross country and cross-sector interactions among trade, innovation, and knowledge diffusion. We study the effect of trade liberalization in a multi-country, multi-sector endogenous growth model in which comparative advantage and the stock of knowledge are determined by innovation and diffusion. A reduction in trade costs induces a re-allocation of comparative advantage in production and innovation across sectors, which translates into higher growth along the counterfactual balanced growth path (BGP). Heterogeneous knowledge diffusion across ...
Working Papers
, Paper 2017-29
Working Paper
Demand-Supply imbalance during the COVID-19 pandemic: The role of fiscal policy
de Soyres, Francois; Young, Henry L.; Santacreu, Ana Maria
(2022-09-02)
To mitigate the health and economic fallout from the COVID-19 pandemic, governments worldwide engaged in massive fiscal support programs. We show that generous fiscal support is associated with an increase in the demand for consumption goods during the pandemic, but industrial production did not adjust quickly enough to meet the sharp increase in demand. This imbalance between supply and demand across countries contributed to high inflation. Our findings suggest a sizable role for fiscal policy in affecting price stability, above and beyond what a monetary authority can do.
Working Papers
, Paper 2022-019
Working Paper
Trade Liberalization versus Protectionism: Dynamic Welfare Asymmetries
Ravikumar, B.; Sposi, Michael; Santacreu, Ana Maria
(2024-01-18)
We investigate whether the losses from an increase in trade costs (protectionism) are equal to the gains from a symmetric decrease in trade costs (liberalization). We incorporate dynamics through capital accumulation into a multicountry trade model and show that the welfare changes are asymmetric: Losses from protectionism are smaller than the gains from liberalization. In contrast, standard static trade models imply that the losses equal the gains. The intuition for asymmetry in our model is that, following protectionism, the economy can coast on its previously accumulated capital stock, so ...
Working Papers
, Paper 2023-019
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