skip to content
Multinational firms and international business cycle transmission Preview this item
ClosePreview this item
Checking...

Multinational firms and international business cycle transmission

Author: Javier Cravino; Andrei A Levchenko; National Bureau of Economic Research,
Publisher: Cambridge, Mass. : National Bureau of Economic Research, 2016.
Series: Working paper series (National Bureau of Economic Research), no. 22498.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
We investigate how multinational firms contribute to the transmission of shocks across countries using a large multi-country firm-level dataset that contains cross-border ownership information. We use these data to document two novel empirical patterns. First, foreign affiliate and headquarter sales exhibit strong positive comovement: a 10% growth in the sales of the headquarter is associated with a 2% growth in the  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Javier Cravino; Andrei A Levchenko; National Bureau of Economic Research,
OCLC Number: 957558944
Notes: "August 2016."
Includes online appendix (34 pages).
Description: 1 online resource (38 pages) : illustrations.
Series Title: Working paper series (National Bureau of Economic Research), no. 22498.
Responsibility: Javier Cravino, Andrei A. Levchenko.

Abstract:

We investigate how multinational firms contribute to the transmission of shocks across countries using a large multi-country firm-level dataset that contains cross-border ownership information. We use these data to document two novel empirical patterns. First, foreign affiliate and headquarter sales exhibit strong positive comovement: a 10% growth in the sales of the headquarter is associated with a 2% growth in the sales of the affiliate. Second, shocks to the source country account for a significant fraction of the variation in sales growth at the source-destination level. We propose a parsimonious quantitative model to interpret these findings and to evaluate the role of multinational firms for international business cycle transmission. For the typical country, the impact of foreign shocks transmitted by all foreign multinationals combined is non-negligible, accounting for about 10% of aggregate productivity shocks. On the other hand, since bilateral multinational production shares are small, interdependence between most individual country pairs is minimal. Our results do reveal substantial heterogeneity in the strength of this mechanism, with the most integrated countries significantly more affected by foreign shocks.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/957558944> # Multinational firms and international business cycle transmission
    a schema:MediaObject, schema:Book, schema:CreativeWork ;
    library:oclcnum "957558944" ;
    library:placeOfPublication <http://id.loc.gov/vocabulary/countries/mau> ;
    schema:about <http://experiment.worldcat.org/entity/work/data/3824392423#Topic/globalization_econometric_models> ; # Globalization--Econometric models
    schema:about <http://experiment.worldcat.org/entity/work/data/3824392423#Topic/rate_of_return_econometric_models> ; # Rate of return--Econometric models
    schema:about <http://experiment.worldcat.org/entity/work/data/3824392423#Topic/international_business_enterprises_econometric_models> ; # International business enterprises--Econometric models
    schema:about <http://experiment.worldcat.org/entity/work/data/3824392423#Topic/business_cycles_econometric_models> ; # Business cycles--Econometric models
    schema:about <http://experiment.worldcat.org/entity/work/data/3824392423#Topic/business_enterprises_foreign_econometric_models> ; # Business enterprises, Foreign--Econometric models
    schema:author <http://experiment.worldcat.org/entity/work/data/3824392423#Person/cravino_javier> ; # Javier Cravino
    schema:author <http://experiment.worldcat.org/entity/work/data/3824392423#Person/levchenko_andrei_a> ; # Andrei A. Levchenko
    schema:bookFormat schema:EBook ;
    schema:datePublished "2016" ;
    schema:description "We investigate how multinational firms contribute to the transmission of shocks across countries using a large multi-country firm-level dataset that contains cross-border ownership information. We use these data to document two novel empirical patterns. First, foreign affiliate and headquarter sales exhibit strong positive comovement: a 10% growth in the sales of the headquarter is associated with a 2% growth in the sales of the affiliate. Second, shocks to the source country account for a significant fraction of the variation in sales growth at the source-destination level. We propose a parsimonious quantitative model to interpret these findings and to evaluate the role of multinational firms for international business cycle transmission. For the typical country, the impact of foreign shocks transmitted by all foreign multinationals combined is non-negligible, accounting for about 10% of aggregate productivity shocks. On the other hand, since bilateral multinational production shares are small, interdependence between most individual country pairs is minimal. Our results do reveal substantial heterogeneity in the strength of this mechanism, with the most integrated countries significantly more affected by foreign shocks."@en ;
    schema:exampleOfWork <http://worldcat.org/entity/work/id/3824392423> ;
    schema:inLanguage "en" ;
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/3824392423#Series/nber_working_paper_series> ; # NBER working paper series ;
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/3824392423#Series/working_paper_series_national_bureau_of_economic_research> ; # Working paper series (National Bureau of Economic Research) ;
    schema:name "Multinational firms and international business cycle transmission"@en ;
    schema:productID "957558944" ;
    schema:publisher <http://experiment.worldcat.org/entity/work/data/3824392423#Organization/national_bureau_of_economic_research> ; # National Bureau of Economic Research,
    schema:url <http://papers.nber.org/papers/w22498> ;
    wdrs:describedby <http://www.worldcat.org/title/-/oclc/957558944> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/3824392423#Organization/national_bureau_of_economic_research> # National Bureau of Economic Research,
    a schema:Organization ;
    schema:name "National Bureau of Economic Research," ;
    .

<http://experiment.worldcat.org/entity/work/data/3824392423#Person/cravino_javier> # Javier Cravino
    a schema:Person ;
    schema:familyName "Cravino" ;
    schema:givenName "Javier" ;
    schema:name "Javier Cravino" ;
    .

<http://experiment.worldcat.org/entity/work/data/3824392423#Person/levchenko_andrei_a> # Andrei A. Levchenko
    a schema:Person ;
    schema:familyName "Levchenko" ;
    schema:givenName "Andrei A." ;
    schema:name "Andrei A. Levchenko" ;
    .

<http://experiment.worldcat.org/entity/work/data/3824392423#Series/nber_working_paper_series> # NBER working paper series ;
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/957558944> ; # Multinational firms and international business cycle transmission
    schema:name "NBER working paper series ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/3824392423#Series/working_paper_series_national_bureau_of_economic_research> # Working paper series (National Bureau of Economic Research) ;
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/957558944> ; # Multinational firms and international business cycle transmission
    schema:name "Working paper series (National Bureau of Economic Research) ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/3824392423#Topic/business_cycles_econometric_models> # Business cycles--Econometric models
    a schema:Intangible ;
    schema:name "Business cycles--Econometric models"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/3824392423#Topic/business_enterprises_foreign_econometric_models> # Business enterprises, Foreign--Econometric models
    a schema:Intangible ;
    schema:name "Business enterprises, Foreign--Econometric models"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/3824392423#Topic/globalization_econometric_models> # Globalization--Econometric models
    a schema:Intangible ;
    schema:name "Globalization--Econometric models"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/3824392423#Topic/international_business_enterprises_econometric_models> # International business enterprises--Econometric models
    a schema:Intangible ;
    schema:name "International business enterprises--Econometric models"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/3824392423#Topic/rate_of_return_econometric_models> # Rate of return--Econometric models
    a schema:Intangible ;
    schema:name "Rate of return--Econometric models"@en ;
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.