Raquel Fernández and Alberto Martín explore the role of debt maturity on the frequency with which a country enters a debt crisis and on the severity of the latter.
Alessandra Bonfiglioli and Gino Gancia explore how export opportunities affect the choices of firms, their characteristics, and the wages of their workers.
Barcelona GSE research on VoxEU.org by Kerem Cosar, Nezih Guner, and James R. Tybout
Trade liberalisations are often accompanied by labour market reforms, making it difficult to isolate their effects. This column discusses the effects of trade liberalisation, globalisation, and labour-market reforms on the Colombian labour market. Reduced trade frictions increased cross-firm wage inequality and shifted the firm-size distribution rightward, with offsetting effects on overall wage inequality. Average income increased, but the gains were concentrated among employees of large, productive firms with access to export markets. Greater trade openness also increased job turnover.
Fernando Broner, Aitor Erce, Alberto Martín, and Jaume Ventura provide a new and original view of this sovereign debt crisis, drawing heavily from insights obtained in their earlier theoretical work.