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Working Paper
The Olympic effect

Economists are skeptical about the economic benefits of hosting "mega-events" such as the Olympic Games or the World Cup, since such activities have considerable cost and seem to yield few tangible benefits. These doubts are rarely shared by policymakers and the population, who are typically quite enthusiastic about such spectacles. In this paper, we reconcile these positions by examining the economic impact of hosting mega-events like the Olympics; we focus on trade. Using a variety of trade models, we show that hosting a mega-event like the Olympics has a positive impact on national ...
Working Paper Series , Paper 2009-06

Midwest manufacturing and trade with China

Chicago Fed Letter , Issue Nov

Working Paper
How much of South Korea's growth miracle can be explained by trade policy?

South Korea's growth miracle has been well documented. A large set of institutional and policy reforms in the early 1960s is thought to have contributed to the country's extraordinary performance. In this paper, the authors assess the importance of one key set of policies, the trade policy reforms in Korea, as well as the concurrent GATT tariff reductions. They develop a model of neoclassical growth and trade that highlights two forces by which lower trade barriers can lead to increased per worker GDP: comparative advantage and specialization, and capital accumulation. The authors calibrate ...
Working Papers , Paper 09-19

Journal Article
Noteworthy: south Texas: recession taking toll on shipments across border

Recessions in both the U.S. and Mexico have slowed the flow of goods across the Rio Grande.
Southwest Economy , Issue Q2 , Pages 15

Working Paper
Why is manufacturing trade rising even as manufacturing output is falling?

Working Papers , Paper 04-4

Discussion Paper
The demand for trade credit: an investigation of motives for trade credit use by small businesses

Trade credit--credit extended by a seller who does not require immediate payment for delivery of a product--is an important source of funds for business customers. In 1987, such credit accounted for about 15 percent of the liabilities of nonfarm nonfinancial businesses in the United States, approximately the same percentage of liabilities as these firms' nonmortgage loans from banks. Trade credit apparently is especially important for small businesses: In the same year, it accounted for about 20 percent of small firms' liabilities. ; Businesses that choose to finance their purchases through ...
Staff Studies , Paper 165

Working Paper
Trade wedges, inventories, and international business cycles

The large, persistent fluctuations in international trade that cannot be explained in standard models by changes in expenditures and relative prices are often attributed to trade wedges. We show that these trade wedges can reflect the decisions of importers to change their inventory holdings. We find that a two-country model of international business cycles with an inventory management decision can generate trade flows and wedges consistent with the data. Moreover, matching trade flows alters the international transmission of business cycles. Specifically, real net exports become ...
Working Papers , Paper 12-16

Journal Article
Wartime financing of manufacturing and trade concerns

Federal Reserve Bulletin , Issue Apr

Conference Paper
Trade deficits in the long run


Journal Article
Opinion : No time for protectionist impulses

Econ Focus , Volume 13 , Issue Win , Pages 56



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Alessandria, George 8 items

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