Replication data for: The Few Leading the Many: Foreign Affiliates and Business Cycle Comovement
Principal Investigator(s): View help for Principal Investigator(s) Jörn Kleinert; Julien Martin; Farid Toubal
Version: View help for Version V1
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Project Citation:
Kleinert, Jörn, Martin, Julien, and Toubal, Farid. Replication data for: The Few Leading the Many: Foreign Affiliates and Business Cycle Comovement. Nashville, TN: American Economic Association [publisher], 2015. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114074V1
Project Description
Summary:
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This paper argues that the correlation of business cycles across countries is largely due to linkages between multinational firms and their foreign affiliates. There are very few foreign affiliates in France, but they contribute considerably to aggregate economic activities. We exploit the heterogeneity in the presence and origin of foreign affiliates across French regions to identify their impact on comovement. We find a positive impact of foreign affiliates' presence on the comovement of business cycles between their regions of location and their countries of origin. This effect is not primarily driven by foreign affiliates' trade with their countries of origin. (JEL E32, F14, F23, F44)
Scope of Project
JEL Classification:
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E32 Business Fluctuations; Cycles
F14 Empirical Studies of Trade
F23 Multinational Firms; International Business
F44 International Business Cycles
E32 Business Fluctuations; Cycles
F14 Empirical Studies of Trade
F23 Multinational Firms; International Business
F44 International Business Cycles
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