scholarly journals Do international shocks affect small wholesalers and retailers?

2010 ◽  
Vol 146 (2) ◽  
pp. 323-338 ◽  
Author(s):  
Robert M. Feinberg
Keyword(s):  
2016 ◽  
Vol 9 (2) ◽  
pp. 146-170 ◽  
Author(s):  
J.M. Albala-Bertrand

Purpose The aim of this paper is to learn about some patterns of sectoral and industrial structural change of the Chinese economy over the 1995-2010 period, which also complements a previous paper of the author. The chosen period is about (and conveniently) bounded by two international crises: the Southeast Asian crisis of 1997 and the world crisis that started in 2007/2008. Design/methodology/approach To such a purpose, this paper set up a quantitative methodology via input-output modelling, which allows us to decompose gross output into some key demand sources or contributions. These are then analyzed over the full period. Findings It can be shown that the trajectory of the main structural patterns over the period was not smooth and was pretty unbalanced and that they generally responded to both domestic policy and international shocks. Export demand and heavy industry appeared to be the main engines of the economy, which showed massive increases in their share of output, at the expense of domestic demand, services and agriculture. Despite the high growth rates over this period, the Chinese economy seemed to be in need of rebalancing, which seems to have started toward the end of the authors’ period. Originality/value The decomposition method has been applied before by the author and others, but the variations in this paper are original, just as original is the application to China (never been done before), which in addition is not confined to two or so snapshots separated by many years, as is the usual use, but to the full year-after-year change of the sectoral and industrial structure over this study’s focus period.


2015 ◽  
Vol 15 (149) ◽  
pp. 1 ◽  
Author(s):  
Alexei Kireyev ◽  
Andrei Leonidov ◽  
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2021 ◽  
Author(s):  
javier alfonso luque gianella

<p>This thesis assesses the impact of the 1989 skill ecosystem reform, whereby New Zealand initiated a comprehensive reform of its skill ecosystem. The reforms radically transformed the education and training system and were driven primarily by the approval of the Education Act 1989 and the Industry Training Act 1992 and their amendments. For this thesis, the reform ended in 2020 with the approval of the Education and Training Act 2020. The reforms were part of a broader political transformation in New Zealand that ended up embarking on market policies to increase its productivity. Education and training were identified as a necessary condition to achieve that goal. New Zealand’s skill ecosystem has its foundations in the strong system built in the country since the arrival of the first settlers, but that had slowed its dynamism in the 1970s, with enrollment rates lagging behind comparable countries and concerns about the ability of the skill ecosystem to respond to current and future skill needs. The reform decentralized the education system at the primary / secondary and post-secondary levels but created an institution, the New Zealand Qualification Authority (NZQA) that should allow students and trainees a seamless navigation across it. The reform had a strong involvement of the private sector. To evaluate the impact of the reform, the thesis faces several challenges: there is no adequate counterfactual, the design is continually changing, and the country experienced a series of international shocks during its implementation. To address these challenges, the thesis presents a comprehensive set of indicators to evaluate the reform's outputs and outcomes at different levels. In terms of outputs, which include the reform, enrollment in education and training, participation rates increased. In terms of outcomes, which include indirect and behavioural changes, the measures are mixed. At the end of the reform, the ease of finding high-level skills in New Zealand is similar to its long-term trend despite the more sophisticated economic structure, albeit with significant differences by firm size and industries. And the ease is lower than in comparison countries, raising questions about whether that level could change given the small size and remoteness of New Zealand's economy.</p>


2019 ◽  
Vol 86 (6) ◽  
pp. 2356-2402 ◽  
Author(s):  
Mary Amiti ◽  
Oleg Itskhoki ◽  
Jozef Konings

Abstract How strong are strategic complementarities in price setting across firms? In this article, we provide a direct empirical estimate of firms’ price responses to changes in competitor prices. We develop a general theoretical framework and an empirical identification strategy, taking advantage of a new micro-level dataset for the Belgian manufacturing sector. We find strong evidence of strategic complementarities, with a typical firm adjusting its price with an elasticity of 0.4 in response to its competitors’ price changes and with an elasticity of 0.6 in response to its own cost shocks. Furthermore, we find evidence of substantial heterogeneity in these elasticities across firms. Small firms exhibit no strategic complementarities in price setting and complete cost pass-through. In contrast, large firms exhibit strong strategic complementarities, responding to both competitor price changes and their own cost shocks with roughly equal elasticities of around 0.5. We show that this pattern of heterogeneity in markup variability across firms is important for explaining the aggregate markup response to international shocks and the observed low exchange rate pass-through into domestic prices.


2021 ◽  
Vol 13 (1) ◽  
Author(s):  
Kristin J. Forbes

Countries are making more active use of macroprudential tools than in the past with the goal of improving the resilience of their broader financial systems. A growing body of evidence suggests that these tools can accomplish specific domestic goals and should reduce a country's vulnerability to many domestic and international shocks. The evidence also suggests, however, that these policies are not an elixir. They will not insulate economies from volatility, and they generate leakages to the nonbank financial system and spillovers through international borrowing, lending, and other cross-border exposures. Some of these unintended consequences can mitigate the effectiveness of macroprudential policies and generate new vulnerabilities and risks. The COVID-19 crisis provides a lens to evaluate the effectiveness of current macroprudential regulations during a period of extreme market volatility and economic stress. The experience to date suggests that macroprudential tools provide some benefits and should remain a focus of macroeconomic policy, but with realistic expectations about what they can accomplish. Expected final online publication date for the Annual Review of Economics, Volume 13 is August 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.


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