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  1. Modeling semiconductor export restrictions and the US-China trade conflict
    Autor*in: Funke, Michael; Wende, Adrian
    Erschienen: 23 November 2022
    Verlag:  BOFIT, the Bank of Finland Institute for Emerging Economies, Helsinki

    The semiconductor industry stands at the center of the intensifying Sino-American trade conflict. Employing a multi-country, multi-sector general equilibrium modeling framework with imperfect competition and heterogeneous firms, we perform... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 686
    Fernleihe:
    keine Fernleihe

     

    The semiconductor industry stands at the center of the intensifying Sino-American trade conflict. Employing a multi-country, multi-sector general equilibrium modeling framework with imperfect competition and heterogeneous firms, we perform qualitative and quantitative analyses of protectionist semiconductor measures. The paper offers two innovations in assessing the macroeconomic impact of current trade restrictions in the semiconductor industry model. First, our model of the semiconductor industry takes into account semiconductor varieties at different technological levels with different substitutability. Second, we model trade restrictions using a novel approach to export bans on semiconductor varieties that is consistent with US policy. Our simulation results suggest that the trade restrictions imposed by the US and its allies consistently lead to a decline in Chinese GDP and welfare. The US also loses, but to a lesser extent. The effect of trade diversion favors the rest of the world. Our simulations further confirm that the US semiconductor industry is likely to be harmed by the restrictions, while China's could be strengthened.

     
    Export in Literaturverwaltung   RIS-Format
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789523234253
    Weitere Identifier:
    hdl: 10419/266395
    Schriftenreihe: BOFIT discussion papers ; 2022, 13
    Schlagworte: International trade; firm heterogeneity; semiconductors; United States; China
    Umfang: 1 Online-Ressource (circa 50 Seiten), Illustrationen
  2. Regional favoritism in access to credit
    just believe it
    Autor*in: Osei-Tutu, Francis; Weill, Laurent
    Erschienen: 21 March 2023
    Verlag:  BOFIT, the Bank of Finland Institute for Emerging Economies, Helsinki

    We examine the effect of regional favoritism on the access of firms to credit. Using firm-level data on a large sample of 29,000 firms covering 47 countries, we investigate the hypothesis that firms in the birth regions of national political leaders... mehr

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    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 686
    Fernleihe:
    keine Fernleihe

     

    We examine the effect of regional favoritism on the access of firms to credit. Using firm-level data on a large sample of 29,000 firms covering 47 countries, we investigate the hypothesis that firms in the birth regions of national political leaders have better access to credit. Our evidence suggests that firms located in birth regions of political leaders are less likely to be credit constrained. The effect takes place through the demand channel: firms in leader regions face fewer hurdles in applying for loans. We find no evidence, however, of preferential lending from banks to firms in leader regions. Thus, regional favoritism affects access to credit through differences in perceptions of firm managers, not deliberate changes in the allocation of resources by political leaders.

     
    Export in Literaturverwaltung   RIS-Format
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789523234253
    Weitere Identifier:
    hdl: 10419/270718
    Schriftenreihe: BOFIT discussion papers ; 2023, 1
    Schlagworte: regional favoritism; access to credit; borrower discouragement
    Umfang: 1 Online-Ressource (circa 43 Seiten), Illustrationen
  3. BigTech credit and monetary policy transmission
    micro-level evidence from China
    Autor*in: Huang, Yiping; Li, Xiang; Qiu, Han; Yu, Changhua
    Erschienen: 13 April 2023
    Verlag:  BOFIT, the Bank of Finland Institute for Emerging Economies, Helsinki

    This paper studies monetary policy transmission through BigTech and traditional banks. By comparing business loans made by a BigTech bank with those made by traditional banks, it finds that BigTech credit amplifies monetary policy transmission mainly... mehr

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    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 686
    Fernleihe:
    keine Fernleihe

     

    This paper studies monetary policy transmission through BigTech and traditional banks. By comparing business loans made by a BigTech bank with those made by traditional banks, it finds that BigTech credit amplifies monetary policy transmission mainly through the extensive margin. Specifically, the BigTech bank is more likely to grant credit to new borrowers compared with conventional banks in response to expansionary monetary policy. The BigTech bank's advantages in information, monitoring, and risk management are the potential mechanisms. In addition, monetary policy has a stronger impact on the real economy through BigTech lending.

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789523234253
    Weitere Identifier:
    hdl: 10419/271047
    Schriftenreihe: BOFIT discussion papers ; 2023, 2
    Schlagworte: Financial Technology; Bank Lending; Monetary Policy Transmission
    Umfang: 1 Online-Ressource (circa 30 Seiten), Illustrationen