McDonough School of Business
Washington, DC 20057
Institutional Affiliation: Georgetown University
NBER Working Papers and Publications
|January 2020||Structural Reforms and Elections: Evidence from a World-Wide New Dataset|
with Alberto F. Alesina, Davide Furceri, Jonathan D. Ostry, Chris Papageorgiou: w26720
We assemble two unique databases. One is on reforms in domestic finance, external finance, trade, product markets and labor markets, which covers 90 advanced and developing economies from 1973 to 2014. The other is on electoral results and timing of elections. In the 66 democracies considered in the paper, we show that liberalizing reforms engender benefits for the economy, but they materialize only gradually over time. Partly because of this delayed effect, and possibly because voters are impatient or do not anticipate future benefits, liberalizing reforms are costly to incumbents when implemented close to elections. We also find that the electoral effects depend on the state of the economy at the time of reform: reforms are penalized during contractions; liberalizing reforms undertaken i...
|January 2016||Winners and Losers in International Trade: The Effects on U.S. Presidential Voting|
with J. Bradford Jensen, Stephen Weymouth: w21899
This paper studies how international trade influences U.S. presidential elections. We expect the positive employment effects of expanding exports to increase support for the incumbent’s party, and job insecurity from import competition to diminish such support. Our national-level models show for the first time that increasing imports are associated with decreasing incumbent vote shares, and increasing exports correlate with increasing vote shares for incumbents. These effects are large and politically consequential. We also construct U.S. county-level measures of employment in high- and low-skill tradable activities. We find increases in incumbent vote shares in counties with concentrations of employment in high-skilled tradable goods and services, and decreases in counties with concentra...
Published: Jensen, J. Bradford & Quinn, Dennis P. & Weymouth, Stephen, 2017. "Winners and Losers in International Trade: The Effects on US Presidential Voting," International Organization, Cambridge University Press, vol. 71(03), pages 423-457, June. citation courtesy of
|July 2013||Global Supply Chains, Currency Undervaluation, and Firm Protectionist Demands|
with J. Bradford Jensen, Stephen Weymouth: w19239
We examine firm participation in global supply chains to help explain a puzzling decline in protectionist demands in the U.S. despite increased import competition and ongoing currency undervaluation. To explain firm responses to undervaluation, we rely on advances in the international trade literature that uncover intraindustry heterogeneity in firm trade and investment activities. We propose that firm foreign direct investments in, and subsequent related party trade with, countries with undervalued exchange rates will lead to fewer antidumping filings. Examining the universe of U.S. manufacturing firms, we find that antidumping petition filers are more internationally engaged than non-filing peers, but conduct less related party trade with filed-against countries. High levels of related...
|June 2010||Free Flows, Limited Diversification: Openness and the Fall and Rise of Stock Market Correlations, 1890-2001|
with Hans-Joachim Voth
in NBER International Seminar on Macroeconomics 2009, Lucrezia Reichlin and Kenneth D. West, organizers