Governments often issue bonds in foreign jurisdictions, which can provide additional legal protection vis-à-vis domestic bonds. This paper studies the

We use a dynamic general equilibrium trade model with comparative advantage, heterogeneous firms, hetero- geneous workers and endogenous firm entry to a

Partisan conflict and policy uncertainty are frequently invoked as factors contributing to slow post-crisis recoveries. Recent events in Europe provide ample evidence that the political aftershocks of financial crises can be severe. In this paper we...

Why do almost all sovereign nations list their international bonds on stock exchanges? We examine several hypotheses for what drives sovereigns to list

This paper exploits the 2004 EU enlargement as a natural experiment to estimate the effects of antidumping (AD) duties on import prices and quantities. The automatic extension of EU AD policy to new member states following their accession is...

A growing share of modern trade policy instruments is shaped by non-tariff barriers (NTBs). Based on a structural gravity equation and the recently updated Global Trade Alert database, we empirically investigate the effect of NTBs on imports...

We analyze the international transmission of financial stress and its effects on global economic activity. Our analysis is based on country-specific monthly financial stress indices (FSIs) over the sample period 1970-2012 for 20 major economies....

This paper offers a reappraisal of the inflation–unemployment tradeoff, based on frictional growth, describing the interplay between nominal frictions and money growth. When the money supply grows in the presence of price inertia (due to staggered...

This paper presents an experimental study analyzing common consequence effects with binary choice, willingness-to-pay (WTP), and willingness-to-accept (WTA). Consistent with previous research we do not find clearcut evidence of fanning out in the...

Experiments on choice under risk typically involve multiple decisions by individual subjects. The choice of mechanism for selecting decision(s) for payoff is an essential design feature that is often driven by appeal to the isolation hypothesis or...