A. Abrahams, E. Berman, P. Khadka, Esteban F. Klor, J. Powell
{"title":"Mostly Deterred: An Episodic Analysis of The Israel-Gaza Conflict","authors":"A. Abrahams, E. Berman, P. Khadka, Esteban F. Klor, J. Powell","doi":"10.2139/ssrn.3465438","DOIUrl":"https://doi.org/10.2139/ssrn.3465438","url":null,"abstract":"Does violent retaliation to attacks by state and non-state actors lead to deterrence or, on the contrary, to counter-retaliation and protracted violence? We study this question in the context of Israel's conflict with Gaza between 2007 and 2014, using original security reports from the United Nations. We build an original dataset including over 16,000 Palestinian projectile launches and over 8,800 Israeli airstrikes, recorded with precise timing. Our findings weigh heavily against the argument that retaliation perpetuates this conflict. The conflict is characterized by short-lived episodes of violence separated by quiet interludes. Episodes tend to last less than one day and are followed by 3.5 days of calm, on average. Most episodes have no retaliation: 61% are one-sided, consisting only of provocations that go unanswered. Among episodes that do, the median number of successive counter-retaliations is only 3. Moreover, counter-retaliation does not induce subsequent episodes: 91% of episodes are initiated by Gazan militants’ attacks and 85% of episodes end with Gazan militants’ attacks. We find that Israeli retaliation strongly correlates with Gazans’ initial number of attacks and type of rockets fired. Yet, rather than provoking an immediate increase in violence or de-escalation, retaliation seems to have no short-term effect, as would be predicted by a model of long-term deterrence.","PeriodicalId":333633,"journal":{"name":"IRPN: Innovation & International Economics (Topic)","volume":"78 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126759187","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"International Comparison and Trade Effects of Digital Innovation","authors":"Nakgyoon Choi, Kyu Yub Lee, Hyuk-hwang Kim","doi":"10.2139/ssrn.3407065","DOIUrl":"https://doi.org/10.2139/ssrn.3407065","url":null,"abstract":"Digital innovation will bring about revolutionary changes in all activities in the social and political sphere, not to mention the areas of...","PeriodicalId":333633,"journal":{"name":"IRPN: Innovation & International Economics (Topic)","volume":"188 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123272548","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Securitized Markets, International Capital Flows, and Global Welfare","authors":"Gregory Phelan, Alexis Akira Toda","doi":"10.2139/ssrn.2689043","DOIUrl":"https://doi.org/10.2139/ssrn.2689043","url":null,"abstract":"We study the effect of collateralized lending and securitization on the global supply of securitized assets, welfare, and international net and gross capital flows in a two country general equilibrium model with idiosyncratic investment risk. The financial sectors in the two countries, Home and Foreign, differ by the collateral requirement for investment loans, with Home requiring lower margins. In autarky, Home endogenously supplies more assets and enables more risk sharing. Upon financial integration, capital flows from Foreign to Home, leading to lower interest rates and an increase in the global supply of assets. Foreign enjoys substantial welfare gains through better risk sharing and portfolio reallocation, while the welfare experience for Home is ambiguous. Gross capital flows arise when agents face aggregate shocks to the expected payoff to investment projects, but can collapse when shocks concern the variance of returns.","PeriodicalId":333633,"journal":{"name":"IRPN: Innovation & International Economics (Topic)","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-01-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115651628","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
J. Beňa, Miguel A. Ferreira, Pedro Matos, P. Pires
{"title":"Are Foreign Investors Locusts? The Long-Term Effects of Foreign Institutional Ownership","authors":"J. Beňa, Miguel A. Ferreira, Pedro Matos, P. Pires","doi":"10.2139/ssrn.2640045","DOIUrl":"https://doi.org/10.2139/ssrn.2640045","url":null,"abstract":"This paper challenges the view that foreign investors lead firms to adopt a short-term orientation and forgo long-term investment. Using a comprehensive sample of publicly listed firms in 30 countries over the period 2001–2010, we find instead that greater foreign institutional ownership fosters long-term investment in tangible, intangible, and human capital. Foreign institutional ownership also leads to significant increases in innovation output. We identify these effects by exploiting the exogenous variation in foreign institutional ownership that follows the addition of a stock to the MSCI indexes. Our results suggest that foreign institutions exert a disciplinary role on entrenched corporate insiders worldwide.","PeriodicalId":333633,"journal":{"name":"IRPN: Innovation & International Economics (Topic)","volume":"63 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129340994","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"From Ideas to Trade","authors":"C. Pan, Fernando Yu","doi":"10.2139/ssrn.2850787","DOIUrl":"https://doi.org/10.2139/ssrn.2850787","url":null,"abstract":"This paper studies the effects of technological innovation on bilateral trade developing and testing a Ricardian model that builds on Eaton and Kortum (2002) and allows for heterogenous technological dispersions across countries. Higher technological dispersion increases the force of comparative advantage. Our model predicts that both changes in costs and comparative advantage affect bilateral exports, and are interdependent. In particular, a country's exports will benefit from another country's increase in costs the lower the comparative advantage in the latter. In addition, a country's exports will benefit from another country's reduction in comparative advantage the higher the trade costs in the latter. We exploit unique data on historical patents to construct measures of the technological stock and the dispersion parameter to test our model's predictions.","PeriodicalId":333633,"journal":{"name":"IRPN: Innovation & International Economics (Topic)","volume":"2014 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127441266","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Comparative Advantage, Institutions and 'Behind the Border' Obstacles","authors":"Adil Khan Miankhel","doi":"10.2139/ssrn.2701718","DOIUrl":"https://doi.org/10.2139/ssrn.2701718","url":null,"abstract":"Institutions are source of comparative advantage or disadvantage in international trade. Socio-economic and political constraints also matter for creating comparative advantage and affect the trade pattern of a country. These diverse ‘beyond the border’ and ‘behind the border’ constraints are often not fully captured in the literature on international trade and institutions. The existence of such institutional, socio-economic, and political constraints to Pakistani exports is empirically investigated in this paper through a cross-sectional analysis employing a trade Stochastic Frontier Gravity Model. Aggregate data for 2006-08 and 2009-11 show lower exports in the latter period. This is attributed to demand-suppressing effects emanating from the 2008 global financial crisis and supply-suppressing effects emanating from energy shortfalls and input constraints, due to floods, in Pakistan. The model estimation then demonstrates that behind the border constraints in Pakistan are statistically significant in explaining total exports during 2009-11. The estimation is also presented for four single-digit SIC categories of products for this period. Behind the border constraints are evident for SIC 0 (agriculture, forestry and fish products) and SIC 2 (manufactured products) that combined account for approximately 80 percent of Pakistan’s exports. The estimation results by country further demonstrate that behind the border constraints affect the pattern of trade through the non-realization of bilateral trade potential. In the post-financial crisis era, Pakistan needs to further develop its institutional capacity to promote competitive exports given the explicit and implicit beyond the border trade barriers it faces and work to remove political obstacles to regional trade.","PeriodicalId":333633,"journal":{"name":"IRPN: Innovation & International Economics (Topic)","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121279205","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"India and European Union: Scripting an Economic Miracle","authors":"S. Inani, Manas Tripathi","doi":"10.2139/SSRN.2695536","DOIUrl":"https://doi.org/10.2139/SSRN.2695536","url":null,"abstract":"This paper highlights the international trade relationship of India with European (EU). EU was India’s largest trading partner, whereas India was EU’s 9th largest in the year 2014. Bilateral trade of India-EU in goods in 2014 was € 72.52 billion (Indian exports € 37.07 billion and Indian imports € 35.45 billion) with a trade balance of € 1.62 billion in favour of India. India and EU have inked a series of bilateral agreements and MoUs in science and technology, ICT, employment and social affairs, civil aviation, energy, research and innovation etc. Both sides are cooperating in the fields of energy security, science and technology, agriculture, pharmaceuticals and biotechnology, and ICT.","PeriodicalId":333633,"journal":{"name":"IRPN: Innovation & International Economics (Topic)","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-11-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129179013","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Quantum Money","authors":"D. Ledenyov, Viktor O. Ledenyov","doi":"10.2139/ssrn.2693128","DOIUrl":"https://doi.org/10.2139/ssrn.2693128","url":null,"abstract":"The quantum money (q-money) as a possible convenient, socially innovative, technologically attractive and user/issuer friendly value storing/not storing unit, mean of payment and exchange medium in the advanced financial systems of the developed states is a subject of our scientific interest in this research article. The purpose of this research article is to report on a number of topics: 1. The historical evolution of the money in the financial systems within the economies of the scales and scopes over the centuries. 2. The definition on the electronic money in the financial systems within the economies of the scales and scopes. 3. The proposal and definition on the quantum money in the financial systems within the economies of the scales and scopes. 4. The theoretical framework on the quantum money functional principles in the financial systems within the quantum economies of the scale and scopes. 5. The monetary policies toward the quantum money introduction and functioning in the financial systems within the economies of the scales and scopes. 6. The possible change impacts by the quantum money on the central banks’ existing monetary policies and the financial systems structure within the economies of the scales and scopes. We believe that the quantum money is more convenient for the existing financial and economic systems, which can be accurately characterized by the quantum macroeconomic theory in Ledenyov D O, Ledenyov V O (2015h) and the quantum microeconomics theory in Ledenyov D O, Ledenyov V O (2015j) instead of the classic macroeconomics and microeconomics theories. The authors think that the present transition to the quantum money (q-money) from the electronic money (e-money) in the finances can be conditionally compared with the present transition to the quantum devices (lasers, quantum random number generators, quantum computers) from the electronic devices (vacuum tubes, transistors, integrated circuits, analog computers, digital computers) in the electronics.","PeriodicalId":333633,"journal":{"name":"IRPN: Innovation & International Economics (Topic)","volume":"73 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-11-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126265029","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Strategies of Foreign Direct Investment in the Presence of Technological Spillovers","authors":"H. Dawid, B. Zou","doi":"10.2139/ssrn.2261157","DOIUrl":"https://doi.org/10.2139/ssrn.2261157","url":null,"abstract":"In this paper we present a differential game model of two firms with different technologies producing the same good and selling in the same world market. The firm equipped with advanced technology is deciding whether to outsource parts of its production to the home country of its competitor, where wages and the level of technology are lower. Outsourcing reduces production costs but is associated with spillovers to the foreign competitor. The degree to which the foreign competitor can absorb these spillovers depends on its absorptive effort. Using numerical methods the properties of a Markov Perfect Equilibrium of this game are characterized and the implications of the variation of different key parameters are examined.","PeriodicalId":333633,"journal":{"name":"IRPN: Innovation & International Economics (Topic)","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126192755","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Costas Arkolakis, N. Ramondo, N. Ramondo, A. Rodrı́guez-Clare, S. Yeaple
{"title":"Innovation and Production in the Global Economy","authors":"Costas Arkolakis, N. Ramondo, N. Ramondo, A. Rodrı́guez-Clare, S. Yeaple","doi":"10.1257/AER.20141743","DOIUrl":"https://doi.org/10.1257/AER.20141743","url":null,"abstract":"We develop a quantifiable general equilibrium model of trade and multinational production (MP) in which countries can specialize in innovation or production. Home market effects or comparative advantage leads some countries to specialize in innovation and relegate manufacturing operations to other countries via outward MP. Counterfactual analysis reveals that the reduction in the cost of MP or the integration of China into the world economy may hurt countries that are driven to specialize in production, although these losses tend to be very small. Contrary to popular fears, production workers gain even in countries that further specialize in innovation. (JEL D58, F12, F14, F23, L60, O31)","PeriodicalId":333633,"journal":{"name":"IRPN: Innovation & International Economics (Topic)","volume":"315 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132250790","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}