PDF Joint with Stefanie Haller (2015). Appendix Aggregate exports are not very responsive to real exchange rates, though they respond strongly to trade liberalizations, a fact sometimes referred to as the International Elasticity Puzzle. We use micro data on firms and exports for Ireland to document the aspects… Read More
All posts filed under “Paper”
Specialization, Factor Accumulation and Development, 2004
PDF Joint with Juan Carlos Hallak , Journal of International Economics, 64 (2), 277-302. We estimate the effect of factor proportions on the pattern of manufacturing specialization in a cross-section of OECD countries, taking into account that factor accumulation responds to productivity. We show that the failure to… Read More
Can Trade Costs Explain Why Exchange Rate Volatility Doesn’t Feed Into Consumer Prices?, 2008
PDF Journal of Monetary Economics, 55 (3), pp.606-628. Data and Programs If countries specialize in imperfectly substitutable goods, trade costs increase the share of expenditure devoted to domestic output, reducing the exposure of consumer price inflation to exchange rate changes. I present a multi-country flexible-price model… Read More
Trade Costs, Asset Market Frictions and Risk Sharing, 2012
PDF American Economic Review, 102 (6), 2700-2733. Appendix Data and Programs I use bilateral import data to test for and quantify the importance of trade costs and asset market frictions in explaining the failure of perfect international consumption risk sharing. I find that while frictions in international… Read More
Pricing-to-Market: Evidence From Plant-Level Prices, 2014
PDF Joint with Stefanie Haller , Review of Economic Studies 81 (2), 761-786. Appendix We use micro data on Irish producer prices to provide clean evidence on pricing-to-market across a broad range of manufacturing sectors. We have monthly observations on prices charged by the same plant for the… Read More
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