Found 33 article(s) for author 'Laura Alfaro'

Do Prices Determine Vertical Integration?

Do Prices Determine Vertical Integration? Laura Alfaro, February 2014, Paper. “What is the relationship between product prices and vertical integration? While the literature has focused on how integration affects prices, this paper provides evidence that prices can affect integration. Many theories in organizational economics and industrial organization posit that integration, while costly, increases productivity. It follows from firms’ maximizing behavior that higher prices induce more integration. The reason is that at low prices, increases in revenue resulting from enhanced productivity are too small to justify the cost, whereas…” Link verified August 21, 2014

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Australia: Commodities and Competitiveness

Australia: Commodities and Competitiveness. Laura Alfaro, January 2014, Case. “For the past few decades, Australia has dealt with the benefits and costs of repeated mining booms—inflation, a housing bubble, a current account deficit and growing dependence on China. Between 1996 and 2007, however, Australia had most of these issues under control and grew at impressive rates, becoming one of the richest of developed countries. Yet competitiveness in its non-mining sectors declined. Since the financial crisis, additional challenges associated with climate change, minerals taxes…” May require purchase or user account. Link

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Land Acquisition in India: Public Purpose and Private Property

Land Acquisition in India: Public Purpose and Private Property. Laura Alfaro, Lakshmi Iyer, December 2013, Case. May require purchase or user account. Link verified August 21, 2014

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Brazil’s Enigma: Sustaining Long-Term Growth

Brazil’s Enigma: Sustaining Long-Term Growth. Laura Alfaro, September 2013, Case. “Over the past decade, Brazil’s future as a leading world economic power appeared certain. An expanding middle class and commodity boom had fueled economic growth, with GDP growth hitting a peak of 7.5% in 2010. However, the high cost of conducting business in Brazil, known as “Custo Brasil,” was hurting domestic manufacturing, while incoming foreign investments threatened to overwhelm Brazilian markets. Under President Dilma Rousseff, economic growth stagnated, and the Rousseff administration struggled to find the best balance between reducing…” May require purchase or user account. Link

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Pseudo-flexible exchange-rate regimes

Pseudo-flexible exchange-rate regimes. Laura Alfaro, July 15, 2013, Paper. “According to the IMF, last decade saw a number of countries actively managing their exchange rates. Is this a good way for emerging economies to protect themselves from the large swings of international markets? This column presents a new ‘pseudo-flexible’ exchange rate policy for emerging economies that is both sustainable and allows for accumulating reserves in conjunction with domestic debt; resulting in low exchange-rate volatility…”  Link verified March 28, 2014

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Kinyuseisaku: Monetary Policy in Japan ©

Kinyuseisaku: Monetary Policy in Japan. Laura Alfaro, May 8, 2013, Case. “Assuming office in December 2012, Prime Minister Shinzo Abe was determined to revive Japan’s stagnating economy through an ambitious plan known as ‘Abenomics.’ Under the guidance of the newly appointed governor of the central bank, Haruhiko Kuroda, the Bank of Japan adopted quantitative easing as its new monetary policy, pledging to double the nation’s monetary base in two years through the purchase of long-term government bonds. While Kuroda insisted that Japan needed…”  May require purchase or user account. Link verified March 28, 2014

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Currency Wars

Currency Wars. Laura Alfaro, March 18, 2013, Case. “In February 2013, the G-20 finance ministers met in Moscow, Russia to discuss the rising anxieties over a potential international currency war. It was speculated that certain countries were purposely devaluing their currencies in order to improve their competitiveness in global markets. Emerging markets contended that the expansionary monetary policies of the major central banks, such as the US Federal Reserve, European Central Bank, and the Bank of England, were causing significant and detrimental spillover effects, such as currency appreciation, declining exports, and rising…”  May require purchase or user account. Link

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Deregulation, Misallocation, and Size: Evidence from India

Deregulation, Misallocation, and Size: Evidence from India. Laura Alfaro, December 2012, Paper. “This paper examines the impact of the deregulation of compulsory industrial licensing in India on firm size dynamics and reallocation of resources within industries. Following deregulation, resource misallocation declines, and the left-hand tail of the firm size distribution thickens significantly, suggesting increased entry by small firms. However, the dominance and growth of large incumbents remains unchallenged. Quantile regressions reveal that the distributional effects of deregulation on firm size…” Link verified August 21, 2014

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Foreign Direct Investment and Growth

 Foreign Direct Investment and Growth. Laura Alfaro, Matthew Johnson, 2012, Book Chapter. “This paper examines the evolution of the literature on the relationship between foreign direct investment (FDI) and growth in host countries, particularly developing countries. It provides a broad overview, with a focus on two elements that have recently become particularly important, (1) the role of complementary local conditions conducive to reaping the benefits of FDI (which relate to when FDI will generate growth) and (2) the mechanisms by which FDI creates positive externalities (which relate to how FDI generates growth)…” Link

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Surviving the Global Financial Crisis: Foreign Ownership and Establishment Performance

Surviving the Global Financial Crisis: Foreign Ownership and Establishment Performance. Laura Alfaro, July 2011, Paper. “We examine the differential response of establishments to the recent global financial crisis with particular emphasis on the role of foreign ownership. Using a worldwide establishment panel dataset, we investigate how multinational subsidiaries around the world responded to the crisis relative to local establishments. We find that first, multinational subsidiaries fared on average better than local counterfactuals with similar economic characteristics. Second, among multinational subsidiaries…” Link

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