Trade liberalization changes the volatility of returns by reducing negative correlation between local prices and productivity shocks. In this paper, we explore these second‐moment effects trade. Using forty years agricultural micro‐data from India, show that falling trade costs due to expansions Indian highway network reduced responsiveness yields but increased elsewhere. response, farmers shif...

We revisit the relationship between foreign investment and productivity of acquired firms. First, we construct a panel firm-level dataset for eight advanced European countries covering domestic acquisitions together with detailed balance sheet information years 1999–2012. Second, address challenge identifying causal relation. To that end, compare to in addition accounting impact majority versus...

p olicy makers in housing sector seeks to use instruments by which they can control volatility of housing price and prevent high disturbances of the bubble and price shocks, or at least, reduce them. in the portfolio and speculation theories, it is emphasized that speculative demand for housing is the main cause of shocks and price volatilities in the sector. the theory of housing price bubble ...