Ana Fernandes

Bio: Ana Fernandes is an academic researcher from University of Exeter. The author has contributed to research in topics: Competition (economics) & Export performance. The author has an hindex of 14, co-authored 40 publications receiving 825 citations. Previous affiliations of Ana Fernandes include CEMFI & Bern University of Applied Sciences.

Youth Emancipation and Perceived Job Insecurity of Parents and Children

Abstract: The age at which children leave the parental home differs considerably across countries. In this paper we argue that lower job insecurity of parents and higher job insecurity of children delay emancipation. We provide aggregate evidence which supports this hypothesis for 12 European countries and which helps account for the increase in coresidence in the 1990s. We also give microeconometric evidence for Italy, a country for which we have access to household-specific information on job security of fathers and coresidence. In the late 1990s, approximately 75% of young Italians aged 18 to 35 were living at home and they had only a 4% probability of emancipation in the 3 subsequent years. We show that this probability would have increased by 4 to 10 percentage points if their fathers had gone from perceiving to have a fully secure job to expecting to be unemployed for sure.

Youth emancipation and perceived job insecurity of parents and children

Abstract: We test whether job insecurity of parents and children affect children’s moving-out decisions. Macroeconomic estimates for 13 European countries over 1983–2004 show that coresidence increases by 1.7 percentage points (PP) following a 10 PP rise in the share of youths perceiving their job to be insecure and declines by 1.1 PP following the same increment in insecurity for older workers. Microeconometric evidence for Italy in the mid-1990s shows that the probability of moving out increases by about half a percentage point for a one-standard-deviation increase in paternal insecurity and by one-third of a percentage point for a one-standard-deviation decrease in children’s insecurity.

Learning to Export from Neighbors

Abstract: This paper studies how learning from neighboring firms affects new exporters’ performance and dynamics We develop a statistical decision model in which a firm updates its prior belief about demand of a foreign market based on the number of neighbors currently selling there, the level and heterogeneity of their export sales, and the firm’s own prior knowledge about the market A positive signal about demand inferred from neighbors’ export performance raises the firm’s probability of entry and initial sales in the market, but lowers post-entry growth, conditional on survival These learning effects are stronger when there are more neighbors revealing the signal or when the firm is less familiar with the market Decisions to exit are independent of the prevalence of neighboring export activities We find supporting evidence from the transaction-level export data for all Chinese exporters over 2000-2006 Our findings are robust to controlling for firms’ supply shocks, countries’ demand shocks, and city-country fixed effects

Regression Diagnostics: Identifying Influential Data and Sources of Collinearity

Abstract: 1. Introduction and Overview. 2. Detecting Influential Observations and Outliers. 3. Detecting and Assessing Collinearity. 4. Applications and Remedies. 5. Research Issues and Directions for Extensions. Bibliography. Author Index. Subject Index.

Financial Integration, Financial Development, and Global Imbalances

Abstract: Global financial imbalances can result from financial integration when countries differ in financial markets development. Countries with more advanced financial markets accumulate foreign liabilities in a gradual, long‐lasting process. Differences in financial development also affect the composition of foreign portfolios: countries with negative net foreign asset positions maintain positive net holdings of nondiversifiable equity and foreign direct investment. Three observations motivate our analysis: (1) financial development varies widely even among industrial countries, with the United States on top; (2) the secular decline in the U.S. net foreign asset position started in the early 1980s, together with a gradual process of international financial integration; (3) the portfolio composition of U.S. net foreign assets features increased holdings of risky assets and a large increase in debt.

Processing Trade, Tariff Reductions and Firm Productivity: Evidence from Chinese Firms

Abstract: This paper explores how reductions in taris on imported inputs and …nal goods aect …rm productivity by exploiting the special taritreatment that processing …rms apply on imported inputs as opposed to those of non-processing …rms. Highly disaggregated Chinese transaction-level trade data and …rm-level production data from 2000 to 2006 are used to construct …rm-level input and output taris. Careful examination of the extent of …rm engagement in processing trade and in controlling for various sources of endogeneity reveal that less productive …rms choose to engage in processing trade. More importantly, unlike previous …ndings, reductions in output taris have a greater eect on productivity improvement compared with reductions in input taris due, in large part, to the fact that processing trade in China enjoys zero taris on imported inputs. JEL: F1, L1, O1, O2