Research | Clausen Center

Research

The Clausen Center has a regular cycle of grants to promote research exhibiting great promise of appearing in top disciplinary journals, shaping scholarship, informing policy debates, and attracting outside funding. Below are descriptions of projects that have been granted support from the Clausen Center in the past two years. 

 

 

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Chinese Views of the International Monetary System and the SDR

by Barry Eichengreen

This project will attempt to reconstruct China’s international financial objectives by placing them in their historical context.  It will use the history of China’s interventions in the deliberations of the IMF executive board to trace the evolution of the country’s positions on the international financial architecture. ...

Topics
Capital flows
Initiatives
Financial Globalization
The Cause and Consequences of indirect Rule

By Raul Sanchez de la Sierra

To rule populations of newly conquered territories, states have historically faced an institutional design problem. To collect taxes and tributes, for surveillance to avoid tax evasion and attempts to subvert their power, and to...

Topics
Development
Initiatives
International Trade and Development
Microevidence of Labor Costs on Producer Prices

Benjamin Shoefer (UC Berkeley) and Michael Weber (University of Chicago Booth School of Business)

How do changes in labor costs, including minimum wages, affect producer prices and ultimately inflation? The answer to this core question in macroeconomics and labor economics has proved elusive because of data constraints. This project...

Topics
Development
Initiatives
International Trade and Development
E-Commerce Integration and Household Welfare: Evidence from Taobao's 100 Thousand Villages Project in China

by Ben Faber, Victor Couture, Lizhi Li and Yizhen Gu

Over the past 15 years close to one half of China's population have been connected to and by the internet. Over this period, the number of Chinese buying and/or selling products online has grown from practically zero in 2000...

Topics
Development
Initiatives
International Trade and Development
Progressive Taxation and Tax Revenue Across Development

by Gabriel Zucman

Why do developing countries have low tax-to-GDP ratios? Is it because they are not able to tax (due, e.g., to the informal structure of the economy) or because they are not trying to tax (due, e.g., to political economy reasons leading to low tax rates on...

Topics
Development
Initiatives
International Trade and Development
Firm Dynamics and Cities

by David Sraer and Cecile Gaubert

On average, firms are more productive in larger cities. The typical interpretation of this finding relies on a combination of a selection effect and agglomeration externalities. Empirically, these explanations have been tested in the context of static models (Combes et al. (2012)). This project...

Topics
Development
Initiatives
International Trade and Development
Networks of Firms and the Aggregate Economy

by Isabela Manelici and Jose-P. Vasquez

There has been a recent effort in better understanding the role of firm linkages in production and aggregate stability. The more recent views present the idea that a shock to a single firm (or sector) could have a larger impact if it also...

Topics
Development
Initiatives
International Trade and Development
Inflation Expectations in a Globalized Economy

by Olivier Coibion (UT Austin) and Yuriy Gorodnichenko (UC Berkeley)

This proposal is for a new survey of firms’ expectations, both in the U.S. and internationally. This survey will accomplish two complementary objectives: i) data on firms’ expectations will enable new research into how firms form their expectations and how...

Topics
Capital flows
Initiatives
Financial Globalization
Do Antitakeover Laws Affect Technological Change? International Evidence

by Ross Levine

Does removing impediments to corporate takeovers spur, slow, or have no effect on technological innovation? This research will provide the first international evaluation of whether and how antitakeover laws affect innovation. The research will use data on changes in laws governing corporate takeovers over the period...

Topics
Capital flows
Initiatives
Financial Globalization
The Unequal Returns to Education: International Evidence from Bias-Corrected Quantile Regression

by Christopher J. Palmer

Ongoing globalization and technological change have affected labor markets around the world and the importance of education therein. This project will investigate the extent to which the returns to education vary across the income distribution and how different this pattern is across time and space....

Topics
Development, Education
Initiatives
International Trade and Development, International Business Education
Managing Sudden Stops: Analytical Issues and Empirical Extensions

by Barry Eichengreen

This research (with Poonam Gupta of the World Bank) will document and analyze the modern history of sudden stops and capital flow interruptions.  Key differences with our earlier work will be two.  First, we will be working with a larger and more diverse set of episodes...

Topics
Capital flows
Initiatives
Financial Globalization
Banking the Unbanked: A field experiment in Prize-linked Savings in Mexico

by Aisling Scott , Paul Gertler (Berkeley-Haas) and Enrique Seira (ITAM)

This study randomized a temporary incentive of prize-linked savings (PLS) across bank branches in Mexico. A total of 110 branches were involved in the experiment, with 40 branches assigned the PLS treatment and 70 control branches. We demonstrate...

Topics
Capital flows
Initiatives
Financial Globalization
Estimating Sector-Level Economies of Scale

by Andres Rodriguez-Clare, Dominick Bartelme (UC Berkeley) , Arnaud Costinot, (MIT), and Dave Donaldson (Stanford)

Recent and ongoing work by Costinot, Rodriguez-Clare and coauthors seeks to develop quantitative trade models with external economies of scale at the industry level, and characterize optimal trade policy in this environment.  In this...

Topics
Development
Initiatives
International Trade and Development
Insider Trading Laws and Innovation

by Ross Levine (Berkeley-Haas), Chen Lin and Lai Wei (CUHK Business School at the Chinese University of Hong Kong)

Do legal restrictions on insider trading accelerate or slow technological innovation? Theory offers differing answers. Leland (1992) stresses that insider trading quickly reveals their information in public markets, improving stock...

Topics
Capital flows
Initiatives
Financial Globalization
Relationships in Over the Counter Markets

by Christine Parlour (Berkeley-Haas)

The size of over the counter (OTC) markets is enormous. As of April 30, 2015, the BIS estimated that the notional value outstanding of derivative contracts traded OTC to be 20,880 billion USD. Despite the importance of this market to practitioners, regulators and academics some...

Topics
Capital flows
Initiatives
Financial Globalization
Banking Globalization and Capital Flows

by Leslie Sheng Shen (UC Berkeley)

This project aims to provide a new perspective on international capital flows. The dramatic rise in banking globalization and bank capital flows over the past two decades has altered the landscape of intermediated finance in the international economy and entails profound implications for...

Topics
Capital flows
Initiatives
Financial Globalization
The Renminbi as Global or Regional Currency

By Barry Eichengreen (UC Berkeley) and Domenico Lombardi (CIGI)

The project, undertaken jointly with Domenico Lombardi of CIGI (Canada), sought to analyze the Chinese renminbi’s prospects as a global and regional currency, the question being whether the renminbi is more likely to play a consequential international role globally or...

Topics
Capital flows, Architecture
Initiatives
Financial Globalization, International Financial Architecture
Globalization and Income Inequality: The Distributional Effects of Import Competition

by Christopher J. Palmer (Bekeley-Haas)

This project seeks to ascertain the extent to which ongoing globalization (in the form of international trade) has affected local labor markets. The link between international trade and income inequality has become the subject of political debate recently as national political leaders have considered...

Topics
Development
Initiatives
International Trade and Development
Granular Comparative Advantage

by Cecile Gaubert (UC Berkeley) and Oleg Itskhoki (Princeton)

Firms play a pivotal role in international trade. Much of exports is done by a small number of very large fi rms that enjoy substantial market shares in their markets across destination countries. One may thus conjecture that countries export not...

Topics
Development
Initiatives
International Trade and Development
Appliance Adoption in Recently Electrified Rural Indian Villages

by Meredith Fowlie (Department of agricultural and Resource Economics, UC Berkeley) and Catherine Wolfram (Berkeley Haas)

Nearly all of the growth in energy demand, fossil fuel use, associated local pollution, and greenhouse gas emissions is forecast to come from the developing world, yet we know very little about how...

Topics
Development
Initiatives
International Trade and Development
Cross-Border Acquisitions and Labor Regulations

by Ross Levine, Chen Lin and Beibei Shen

Do labor regulations influence the reaction of stock markets and firm profitability to cross-border acquisitions? Levine, Lin and Shen discover that acquiring firms enjoy smaller abnormal stock returns and profits when target firms are in countries with stronger labor protection regulations,...

Topics
Capital flows
Initiatives
Financial Globalization
Does Peer Use Influence Adoption of Efficient Cookstoves? Evidence from a randomized controlled trial in Uganda

by David Levine (Berkeley Haas)

This paper examines the effect of peer usage on consumer demand for efficient cookstoves with a randomized controlled trial in rural Uganda. It test if the neighbors of buyers who ordered and received a stove are more likely to purchase an efficient cookstove...

Topics
Development
Initiatives
International Trade and Development
Labor Market Allocation

by Amir Kermani 

Why has the current recovery in Europe and the United States been so sluggish? Particularly, why has employment been so slow in picking up, and why do some European countries, such as Greece and Spain, continue to experience Great Depression levels of unemployment? Data from 20...

Topics
Capital flows
Initiatives
Financial Globalization
Stability or Upheaval? The Currency Composition of International Reserves in the Long Run

by Barry Eichengreen, Livia Chitu and Arnaud Mehl

This project analyzes how the role of different national currencies as international reserves was affected by the shift from fixed to flexible exchange rates. The authors extend data on the currency composition of foreign reserves backward and forward to investigate whether...

Topics
Architecture
Initiatives
International Financial Architecture
Peer Effects in the Demand for Energy in Mexico

by Lucas Davis (Berkeley- Haas)

From 2009--2012, Mexico implemented a national energy-efficiency program that replaced 1.9 million aging refrigerators and air conditioners with modern, efficient models.  This research will study whether participation in the program by a neighbor made households more likely to participate or otherwise reduce their electricity...

Topics
Development
Initiatives
International Trade and Development
Atlas of Ancient Political Complexity

by Ernesto Dal Bo, Haas School of Business, UC Berkeley; dalbo@haas.berkeley.edu

David Schonholzer, Economics Department, UC Berkeley: david.s@econ.berkeley.edu

 

For most of the time since their emergence around 200,000 years ago, humans lived in egalitarian societies and subsisted by hunting and gathering. Only after the rise of food production and agriculture...

Topics
Development
Initiatives
International Trade and Development