Optimal Tariffs: The Evidence (2007)
Broda, Christian, Limão, Nuno, Weinstein, David E.
The theoretical debate over whether countries can and should set tariffs in response to the foreign export elasticities they face goes back to Edgeworth (1894). Despite the centrality of the optimal...
Defining Price Stability in Japan: A View from America (2007)
Broda, Christian, Weinstein, David E.
Japanese monetary and fiscal policy uses the consumer price index as a metric for price stability. Despite a major effort to improve the index, the Japanese methodology of calculating the CPI seems...
Happy news from the dismal science: Reassessing Japanese fiscal policy and sustainability (2004)
Broda, Christian, Weinstein, David E.
We analyze fiscal policy and fiscal sustainability in Japan using a variant of the methodology developed in Blanchard (1990). We find that Japan can achieve fiscal sustainability over a 100-year...
A search for multiple equilibria in urban industrial structure (2004)
Davis, Donald R., Weinstein, David E.
Theories featuring multiple equilibria are now widespread across many fields of economics. Yet little empirical work has asked if such multiple equilibria are salient features of real economies. We...
A search for multiple equilibria in urban industrial structure (2004)
Davis, Donald R., Weinstein, David E.
Theories featuring multiple equilibria are now widespread across many fields of economics. Yet little empirical work has asked if such multiple equilibria are salient features of real economies. We...
Technological superiority and the losses from migration (2002)
Davis, Donald R., Weinstein, David E.
Two facts motivate this study. (1) The United States is the world's most productive economy. (2) The US is the destination for a broad range of net factor inflows: unskilled labor, skilled labor, and...
Technological superiority and the losses from migration (2002)
Davis, Donald R., Weinstein, David E.
Two facts motivate this study. (1) The United States is the world's most productive economy. (2) The US is the destination for a broad range of net factor inflows: unskilled labor, skilled labor, and...
What role for empirics in international trade? (2002)
Davis, Donald R., Weinstein, David E.
In the field of international trade, data analysis has traditionally had quite modest influence relative to that of pure theory. At one time, this might have been rationalized by the paucity of...
Market size, linkages, and productivity: A study of Japanese regions (2002)
Davis, Donald R., Weinstein, David E.
One account of spatial concentration focuses on productivity advantages arising from market size. We investigate this for forty regions of Japan. Our results identify important effects of a region's...
Do factor endowments matter for north-north trade? (2002)
Davis, Donald R., Weinstein, David E.
The dominant paradigm of world trade patterns posits two principal features. Trade between North and South arises due to traditional comparative advantage, largely determined by differences in...
Bones, bombs and break points: The geography of economic activity (2002)
Davis, Donald R., Weinstein, David E.
We consider the distribution of economic activity within a country in light of three leading theories - increasing returns, random growth, and locational fundamentals. To do so, we examine the...
The factor content of trade (2002)
Davis, Donald R., Weinstein, David E.
Study of the factor content of trade has become a laboratory to test our ideas about how the key elements of endowments, production, absorption and trade fit together within a general equilibrium...
Bones, Bombs and Break Points: The Geography of Economic Activity (2001)
Donald R. Davis, David E. Weinstein
We consider the distribution of economic activity within a country in light of three leading theories -- increasing returns, random growth, and locational fundamentals. To do so, we examine the...
Bones, bombs and break points: The geography of economic activity (2001)
Davis, Donald R., Weinstein, David E.
We consider the distribution of economic activity within a country in light of three leading theories - increasing returns, random growth, and locational fundamentals. To do so, we examine the...
Trade and growth: Import led or export led? Evidence from Japan and Korea (1999)
Lawrence, Robert Z., Weinstein, David E.
It is commonly argued that Japanese trade protection has enabled the nurturing and development internationally competitive firms. The results in our paper suggest that when it comes to TFP growth,...
Historical, structural, and macroeconomic perspectives on the Japanese economic crisis (1999)
Paul Krugman once noted that it is not remarkable that people tend to favor structural interpretations for economic problems. Losing one's job or seeing one's wealth fall by a factor of two or three...
Foreign direct investment and keiretsu: Rethinking US and Japanese policy (1996)
This paper focuses on two issues. First, a reexamination of the data on the level of foreign direct investment (FDI) in Japan suggests that foreign firms sell five to six times more in Japan than is...
A Search for Multiple Equilibria in Urban Industrial Structure
Donald R. Davis, David E. Weinstein
Theories featuring multiple equilibria are now widespread across many fields of economics. Yet little empirical work has asked if such multiple equilibria are salient features of real economies. We...
Happy News from the Dismal Science: Reassessing the Japanese Fiscal Policy and Sustainability
Christian Broda, David E. Weinstein
We analyze fiscal policy and fiscal sustainability in Japan using a variant of the methodology developed in Blanchard (1990). We find that Japan can achieve fiscal sustainability over a 100-year...
Empirical Tests of the Factor Abundance Theory: What Do They Tell Us?
Donald R. Davis, David E. Weinstein
Beamer and Levinsohn (1995) have recently proposed a formula for empirical work in international macroeconomics summarized by the injunction to "Estimate, Don't Test!" This is based on a perception...
Globalization and the Gains from Variety
Christian Broda, David E. Weinstein
Since the seminal work of Krugman (1979), product variety has played a central role in models of trade and growth. In spite of the general use of love-of-variety models, there has been no systematic...
Product Creation and Destruction: Evidence and Price Implications
Christian Broda, David E. Weinstein
This paper describes the extent and cyclicality of product creation and destruction in a large sector of the U.S. economy and quantifies its implications for the measurement of consumer prices. We...
Defining Price Stability in Japan: A View from America
Christian Broda, David E. Weinstein
Japanese monetary and fiscal policy uses the consumer price index as a metric for price stability. Despite a major effort to improve the index, the Japanese methodology of calculating the CPI seems...
Bones, bombs and break points: The geography of economic activity
Donald R. Davis, David E. Weinstein
We consider the distribution of economic activity within a country in light of three leading theories - increasing returns, random growth, and locational fundamentals. To do so, we examine the...
Do factor endowments matter for north-north trade?
Donald R. Davis, David E. Weinstein
The dominant paradigm of world trade patterns posits two principal features. Trade between North and South arises due to traditional comparative advantage, largely determined by differences in...
Market size, linkages, and productivity: A study of Japanese regions
Donald R. Davis, David E. Weinstein
One account of spatial concentration focuses on productivity advantages arising from market size. We investigate this for forty regions of Japan. Our results identify important effects of a region's...
Technological superiority and the losses from migration
Donald R. Davis, David E. Weinstein
Two facts motivate this study. (1) The United States is the world's most productive economy. (2) The US is the destination for a broad range of net factor inflows: unskilled labor, skilled labor, and...
Donald R. Davis, David E. Weinstein
Study of the factor content of trade has become a laboratory to test our ideas about how the key elements of endowments, production, absorption and trade fit together within a general equilibrium...
What role for empirics in international trade?
Donald R. Davis, David E. Weinstein
In the field of international trade, data analysis has traditionally had quite modest influence relative to that of pure theory. At one time, this might have been rationalized by the paucity of...
Search for Multiple Equilibria in Urban Industrial Structure
David E. Weinstein, Donald R. Davis
Theories of multiple equilibria (ME) are now widespread across many fields of economics. Yet little empirical work has asked if such multiple equilibria are salient features of real economies. We...
Broda, Christian, Limão, Nuno, Weinstein, David E
The theoretical debate over whether countries can and should set tariffs in response to export elasticities goes back over a century to the writings of Edgeworth (1894) and Bickerdike (1907). Despite...
Japan's Corporate Groups: Collusion or Competitive? An Empirical Investigation of Keiretsu Behavior.
Weinstein, David E, Yafeh, Yishay
This paper uses data on manufacturing firms listed on the Tokyo Stock Exchange to evaluate whether firms that are part of Japanese financial groups (keiretsu) behave differently from other Japanese...
David E. Weinstein, Yishay Yafeh
We examine the effects of bank-firm relationships on firm performance in Japan. When access to capital markets is limited, close bank-firm ties increase the availability of capital to borrowing...
A SEARCH FOR MULTIPLE EQUILIBRIA IN URBAN INDUSTRIAL STRUCTURE
Donald R. Davis, David E. Weinstein
Theories featuring multiple equilibria are widespread across economics. Yet little empirical work has asked if multiple equilibria are features of real economies. We examine this in the context of...
A search for multiple equilibria in urban industrial structure
Donald R. Davis, David E. Weinstein
Theories featuring multiple equilibria are now widespread across many fields of economics. Yet little empirical work has asked if such multiple equilibria are salient features of real economies. We...
Defining Price Stability in Japan: A View from America
Christian Broda, David E. Weinstein
Japanese monetary and fiscal policy uses the consumer price index (CPI) as a metric for price stability. Despite a major effort to improve the index, the Japanese methodology of calculating the CPI...
Empirical Tests of the Factor Abundance Theory: What Do They Tell Us?
Donald R. Davis, David E. Weinstein
Beamer and Levinsohn (1995) have recently proposed a formula for empirical work in international macroeconomics summarized by the injunction to "Estimate, Don't Test!" This is based on a perception...
GLOBALIZATION AND THE GAINS FROM VARIETY
David E. Weinstein, Christian Broda
Since the seminal work of Krugman (1979), product variety has played a central role in models of trade and growth. In spite of the general use of love-of-variety models, there has been no systematic...
Bones, Bombs, and Break Points: The Geography of Economic Activity
Donald R. Davis, David E. Weinstein
We consider the distribution of economic activity within a country in light of three leading theories--increasing returns, random growth, and locational fundamentals. To do so, we examine the...
An Account of Global Factor Trade
Donald R. Davis, David E. Weinstein
A half century of empirical work attempting to predict the factor content of trade in goods has failed to bring theory and data into congruence. Our study shows how the Heckscher-Ohlin-Vanek theory,...
Davis, Donald R., David E. Weinstein, Scott C. Bradford, Kazushige Shimpo
The Heckscher-Ohlin-Vanek (HOV) model of factor service trade is a mainstay of international economics. Empirically, though, it is a flop. This warrants a new approach. The authors test the HOV model...
Bank versus market based financial systems: evidence from financial distress in Japan and the US
Brian J. Hall, David E. Weinstein
Banks and banking - Japan
Economic geography and regional production structure: an empirical investigation
Donald R. Davis, David E. Weinstein
There are two principal theories of why countries or regions trade: comparative advantage and increasing returns to scale. Yet there is virtually no empirical work that assesses the relative...
Gondré, Marjorie, Burrola, Patrick, Weinstein, David E.
After injury, the peripheral nervous system (PNS) is capable of full regeneration and recovery of function. Many molecular events that are the hallmarks of the regenerating PNS are recapitulations of...
Globalization and the Gains from Variety
Christian Broda, David E. Weinstein
Since the seminal work of Krugman, product variety has played a central role in models of trade and growth. In spite of the general use of love-of-variety models, there has been no systematic study...
Growth, Economies of Scale, and Targeting in Japan (1955-1990).
Beason, Richard, Weinstein, David E
This paper explores the usage of various industrial policy tools in Japan. Contrary to the conventional wisdom, the authors find that a disproportionate amount of Japanese targeting occurred in...
Understanding International Price Differences Using Barcode Data
Christian Broda, David E. Weinstein
The empirical literature in international finance has produced three key results about international price deviations: borders give rise to flagrant violations of the law of one price, distance...