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Essays on international spillovers.

Columbia University.

Essays on international spillovers.

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	Essays on international spillovers.
作者:	Dao, Mai Chi.
面頁冊數:	115 p.
附註:	Source: Dissertation Abstracts International, Volume: 70-08, Section: A, page: 3108.
附註:	Advisers: Stefania Albanesi; Richard Clarida.
Contained By:	Dissertation Abstracts International70-08A.
標題:	Economics, General.
電子資源:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3373729
ISBN:	9781109346565

Essays on international spillovers.
Dao, Mai Chi.

Essays on international spillovers. - 115 p.

Source: Dissertation Abstracts International, Volume: 70-08, Section: A, page: 3108.

Thesis (Ph.D.)--Columbia University, 2009.

My dissertation studies the international spillover effects of country-specific shocks and in particular, their dependence on the structure of the labor markets.

ISBN: 9781109346565Subjects--Topical Terms:

212429
Economics, General.

Essays on international spillovers.
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245 1 0 $a Essays on international spillovers.
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500 $a Source: Dissertation Abstracts International, Volume: 70-08, Section: A, page: 3108.
500 $a Advisers: Stefania Albanesi; Richard Clarida.
502 $a Thesis (Ph.D.)--Columbia University, 2009.
520 $a My dissertation studies the international spillover effects of country-specific shocks and in particular, their dependence on the structure of the labor markets.
520 $a In Chapter 1, I introduce a dynamic general equilibrium open economy model to analyze the effects of labor market reforms such as a labor tax cut and unemployment benefit reduction on the domestic economy and on the foreign trading partner. The model is calibrated to Germany and the rest of the Euro area. Labor markets are unionized and wages are bargained collectively to account for the European institutional features. Compared to a competitive labor market setting, unionization dampens the positive response of the domestic and triggers positive spillover to the foreign economy. This is essentially due to the absence of a direct wealth effect on labor supply, and the rent seeking nature of the collective bargaining process. Neither the degree of openness, nor the financial market completeness matter as much as the labor market institution for the spillover effects of policy. When the model is enriched with nominal rigidity and a common monetary policy for the currency union, I find that the domestic dampening and international positive spillover effect is further reinforced in the short run due to the endogenous response of the union-wide interest rate.
520 $a Chapter 2 analyzes the role of search frictions in the labor market in determining the international spillover effects of country-specific shocks. I develop a model that integrates search unemployment in a dynamic general equilibrium two-country model. To analyze the mechanism, I consider the effect of a unilateral tax shock that directly affects the return to job creation and hence, country-specific productivity. With search frictions, a tax cut in the foreign country leads to an increase in employment and output in the home country, instead of a decrease as in a model with full employment. This outcome is due to the positive terms of trade effect on the home country's return to job creation, and the rent sharing nature of the wage bargaining process.
520 $a Chapter 3 provides empirical estimates of the international spillover effects of country-specific labor costs variation. It presents empirical evidence in support of a positive spillover effect and its dependence on trade openness as identified in Chapter 2. That is, in response to a decrease in foreign unit labor costs, domestic employment increases. The analysis is carried out by a panel regression with instrumental variables that estimates the effect of exogenous variations in foreign unit labor costs on domestic employment and output. The identification of country-specific labor cost variation relies on a 2 SLS strategy where foreign unit labor costs are instrumented by foreign employer social security contributions.
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