Annual Conference

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Accounting

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May 2024

Breaking the Language Barriers Machine Translation Technology and Analysts’ Forecasts for Multinational Firms

Bingxu FANG, Pengkai LIN
We study the impact of machine translation technology on analysts’ forecasts for multinational firms. Exploiting the staggered rollout of Google Translate’s support to translate foreign languages into English, we find that U.S. analysts improve their forecast accuracy for firms with substantial ...
Keywords: Technology, Sell-Side Analysts, Machine Translation, Labor and Finance, Complementarity
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Annual Conference

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Trade, Growth and Development

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May 2024

The Long and Short-Run Spatial Impacts of Trade

Lin MA, Yunlong SONG, Yang TANG
We study the long and short-run spatial impacts of trade liberalization in a model with internal migration, skill formation, and capital accumulation. We show that the spatial impacts of trade on migration flows and skill composition depend critically on the time horizon. The time-varying impacts co...
Keywords: International trade, skill premium, economic geography, capital accumulation
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Annual Conference

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Trade, Growth and Development

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May 2024

The Economic Dynamics of City Structure: Evidence from Hiroshima's Recovery

Kohei TAKEDA, Atsushi Yamagishi
We provide new theory and evidence on the resilience of internal city structure after a large shock. We analyze the atomic bombing of Hiroshima, which destroyed the city center but not its outskirts. Exploiting newly digitized data on block-level population and employment, we document that the city ...
Keywords: agglomeration, history, expectations, atomic bombing, spatial dynamics
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Annual Conference

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Trade, Growth and Development

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May 2024

The US-China Trade War and the Relocation of Global Value Chains to Mexico

Hale UTAR, Alfonso Cebreros ZURITA, Luis Bernardo Torres RUIZ
Did the 2018/19 US-China trade war trigger adjustment of Global Value Chains (GVCs) and nearshoring to Mexico? We address this question with confidential longitudinal firm-level trade data from Mexico that covers the universe of international trade transactions over 2015-2021. By merging the firm-le...
Keywords: Trade War, GVCs, Nearshoring, Mexico, US, China
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Annual Conference

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Trade, Growth and Development

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May 2024

Does Access to Equity Promote Trade? Evidence from IPO Approvals in China

Robin Kaiji GONG, Yao Amber LI, Stephen TENG Sun
This paper investigates the understudied impact of equity financing on firms' export performance. We leverage the unique institutional context of initial public offering (IPO) in China, where firms must obtain formal approval from the regulatory agency for their public listing. Our empirical strateg...
Keywords: Firm Exports, IPOs, Chinese Economy, Equity Financing
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