Calendrier du 25 septembre 2017
GSIELM (Graduate Students International Economics and Labor Market) Lunch Seminar
Du 25/09/2017 de 13:00 à 14:00
Salle S/3, MSE, 106 boulevard de l'Hôpital, 75013 Paris
KAZAKOVA Ekaterina (Mannheim)
Export Platforms and Multinational Demand Risk Diversification
This paper analyzes the effects of correlated aggregate demand shocks on multinational firms’ structure. Accordingly, we build a structural model featuring global production and demand risk in which heterogeneously risk averse managers decide on the location of production plants, the set of countries to serve from these plants, and the volume of sales. These decisions hinge on the expected market demand, and the variance-covariance of the demand shocks in destination markets. The identification of firm-specific risk aversion coefficients follows from existence and uniqueness of the firm’s optimal sales portfolio. The empirical analysis uses firm-level data on German multinational companies. Our results support the existence of MNE’s diversification strategies when producing and selling abroad.
Régulation et Environnement
Du 25/09/2017 de 12:00 à 14:00
Salle R2-01, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
LISKI Matti (Aalto University)
Carbon leakage: a mechanism design approach
écrit avec co-author: Lassi Ahlvik (NHH, Bergen)