Adjustments costs and international trade dynamics

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ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (138 download)

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Book Synopsis Adjustments costs and international trade dynamics by : Joseph Elbridge Gagnon

Download or read book Adjustments costs and international trade dynamics written by Joseph Elbridge Gagnon and published by . This book was released on 1987 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Adjustment Costs and International Trade Dynamics

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Publisher :
ISBN 13 :
Total Pages : 290 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Adjustment Costs and International Trade Dynamics by : Joseph E. Gagnon

Download or read book Adjustment Costs and International Trade Dynamics written by Joseph E. Gagnon and published by . This book was released on 1988 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Adjustment Costs, Trade Policy, and Labor Market Dynamics

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ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Adjustment Costs, Trade Policy, and Labor Market Dynamics by : David A. Riker

Download or read book Adjustment Costs, Trade Policy, and Labor Market Dynamics written by David A. Riker and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We develop a model of the path of wages and employment in an industry before and after a significant reduction in tariffs on industry imports. The model includes forwardlooking workers who face significant adjustment costs of moving to another industry. We apply the model to recent data for the U.S. furniture industry in a series of simulations of hypothetical tariff reductions. The model suggests that immediately and unexpectedly eliminating the 6.6% average tariff rate on U.S. furniture imports would reduce domestic employment in the industry by 3.0% in the first two years and by a cumulative 6.3% after five years. Wages would immediately decline by 4.5% and then recover gradually over several years. In contrast, staging the tariff reduction would result in less costly labor adjustment, and wage premia in anticipation of the tariff reduction would partly compensate the workers for upcoming wage losses and adjustment costs. We extend the model to incorporate uncertainty about total expenditure on the domestic and imported products.

Mitigating the Adjustment Costs of International Trade

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ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (118 download)

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Book Synopsis Mitigating the Adjustment Costs of International Trade by : Sait Akman

Download or read book Mitigating the Adjustment Costs of International Trade written by Sait Akman and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Interpreting the Dynamics in U.S. International Trade

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Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Interpreting the Dynamics in U.S. International Trade by : Kenneth Allan Kasa

Download or read book Interpreting the Dynamics in U.S. International Trade written by Kenneth Allan Kasa and published by . This book was released on 1994 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Sticky Feet

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Publisher : World Bank Publications
ISBN 13 : 1464802645
Total Pages : 123 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Sticky Feet by : Claire H. Hollweg

Download or read book Sticky Feet written by Claire H. Hollweg and published by World Bank Publications. This book was released on 2014-06-26 with total page 123 pages. Available in PDF, EPUB and Kindle. Book excerpt: The analysis in this report confirms the findings of previous studies that trade liberalization improves aggregate welfare and is in the long run associated with higher employment and wages. The analysis addresses a major gap in the literature, which has heretofore provided limited evidence about the trade-related adjustment costs faced by workers in developing countries and how they are affected by mobility costs. Labor market frictions reduce the potential gains from trade reform. For a tariff reduction in a given sector, the resulting change in relative prices raises real wages in some sectors and reduces them in the liberalized sector. The emerging wage gaps lead to labor reallocation. But workers typically incur costs to change jobs; the higher the mobility costs, the slower the transition to the new labor market steady state. Workers’ sticky feet result in foregone welfare gains from trade. This report presents an estimation strategy for capturing mobility costs when only net flows of workers between industries are observed, generating cross-country estimates for 47 developed and developing countries. The basic analytical approach is then refined to take advantage of micro-level data on worker transitions and wages when gross flows can be observed to derive mobility cost estimates that account for sector and formality status. These cost estimates are used to model the dynamic paths of labor reallocation between sectors and in and out of the labor force, the associated wage paths, and the resulting labor adjustment costs. The main findings of the report are that: labor mobility costs in developing countries are high; foregone trade gains due to frictions in labor mobility can also be substantial; workers bear the brunt of adjustment costs; mobility costs and labor market adjustments to trade-related shocks vary by industry, firm type, and worker type; entry costs are significantly higher for formal than for informal employment; trade reforms increase economy-wide wages and employment; and workers displaced by plant closings are likely to face relatively long adjustment periods. The findings provide insights that could be helpful to policymakers hoping to mitigate negative short-term consequences of trade liberalization and facilitate labor adjustment.

Trade Policies for Development and Transition

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Publisher : World Scientific Publishing Company
ISBN 13 : 9813108444
Total Pages : 695 pages
Book Rating : 4.8/5 (131 download)

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Book Synopsis Trade Policies for Development and Transition by : David G Tarr

Download or read book Trade Policies for Development and Transition written by David G Tarr and published by World Scientific Publishing Company. This book was released on 2016-12-29 with total page 695 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author has virtually incomparable experience in both providing trade policy advice to more than 25 countries on behalf of the World Bank and also publishing quality journal articles in most of those cases. In this volume, he focuses on his work on: (i) trade policies for countries making the transition from planned to market economies; (ii) his trade policy guideline papers for the World Bank on trade policies for poverty alleviation, uniform tariff policy, adjustment costs of trade liberalization, exchange rate overvaluation, globalization and technology transfer and rules of thumb on regional trade policies; (iii) multilateral, dynamic and environmental issues in trade policy using computable general equilibrium models; (iv) trade policy of the United States in the auto and steel industries; and (v) mathematical methods for modeling. The papers show an unusual combination of policy relevance, advice and impact, with rigor and international trade theory insights. The papers in this volume have appeared in many of the economics profession's more prestigious journals, including Econometrica, Review of Economic Studies, Quarterly Journal of Economics, Economic Journal, the Journal of International Economics, International Economic Review, European Economic Review, Canadian Journal of Economics, Economic Inquiry, the Journal of Comparative Economic, Review of International Economics, World Economy, the Southern Economic Journal, the World Bank Economic Review, the Japanese Economic Review and the Latin American Journal of Economics. In this book, the author elaborates on the articles by discussing some of the policy contexts for the requests for the work from developing and transition countries to the World Bank, the key trade theory or policy insights, policy recommendations and conclusions and the policy impacts.

Falling Trade Costs, Heterogeneous Firms, and Industry Dynamics

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ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Falling Trade Costs, Heterogeneous Firms, and Industry Dynamics by : Andrew B. Bernard

Download or read book Falling Trade Costs, Heterogeneous Firms, and Industry Dynamics written by Andrew B. Bernard and published by . This book was released on 2003 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the response of industries and firms to changes in trade costs. Several new firm-level models of international trade with heterogeneous firms predict that industry productivity will rise as trade costs fall due to the reallocation of activity across plants within an industry. Using disaggregated U.S. import data, we create a new measure of trade costs over time and industries. As the models predict, productivity growth is faster in industries with falling trade costs. We also find evidence supporting the major hypotheses of the heterogenous-firm models. Plants in industries with falling trade costs are more likely to die or become exporters. Existing exporters increase their shipments abroad. The results do not apply equally across all sectors but are strongest for industries most likely to be producing horizontally-differentiated tradeable goods.

Trade Adjustment Dynamics and the Welfare Gains from Trade

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Trade Adjustment Dynamics and the Welfare Gains from Trade by : George Alessandria

Download or read book Trade Adjustment Dynamics and the Welfare Gains from Trade written by George Alessandria and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We build a micro-founded two-country dynamic general equilibrium model in which trade responds more to a cut in tariffs in the long run than in the short run. The model introduces a time element to the fixed-variable cost trade-off in a heterogeneous producer trade model. Thus, the dynamics of aggregate trade adjustment arise from producer-level decisions to invest in lowering their future variable export costs. The model is calibrated to match salient features of new exporter growth and provides a new estimate of the exporting technology. At the micro level, we find that new exporters commonly incur substantial losses in the first three years in the export market and that export profits are backloaded. At the macro level, the slow export expansion at the producer level leads to sluggishness in the aggregate response of exports to a change in tariffs, with a long-run trade elasticity that is 2.9 times the short-run trade elasticity. We estimate the welfare gains from trade from a cut in tariffs, taking into account the transition period. While the intensity of trade expands slowly, consumption overshoots its new steady-state level, so the welfare gains are almost 15 times larger than the long-run change in consumption. Models without this dynamic export decision underestimate the gains to lowering tariffs, particularly when constrained to also match the gradual expansion of aggregate trade flows.

Two Essays on Adjustment Costs in International Trade Models

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ISBN 13 :
Total Pages : 186 pages
Book Rating : 4.:/5 (271 download)

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Book Synopsis Two Essays on Adjustment Costs in International Trade Models by : Jun Li

Download or read book Two Essays on Adjustment Costs in International Trade Models written by Jun Li and published by . This book was released on 1992 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Coping with Trade Reforms

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Publisher : Springer
ISBN 13 : 0230377807
Total Pages : 252 pages
Book Rating : 4.2/5 (33 download)

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Book Synopsis Coping with Trade Reforms by : S. Laird

Download or read book Coping with Trade Reforms written by S. Laird and published by Springer. This book was released on 2006-08-04 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book gauges possible development implications of current WTO trade negotiations by examining various proposals and assessing their likely economic impact. The experiences of a number of countries at different levels of development and across various regions are examined to ascertain the impact of their trade reforms.

Changing Patterns of Global Trade

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Publisher : International Monetary Fund
ISBN 13 : 1463973101
Total Pages : 87 pages
Book Rating : 4.4/5 (639 download)

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Book Synopsis Changing Patterns of Global Trade by : Nagwa Riad

Download or read book Changing Patterns of Global Trade written by Nagwa Riad and published by International Monetary Fund. This book was released on 2012-01-15 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: Changing Patterns of Global Trade outlines the factors underlying important shifts in global trade that have occurred in recent decades. The emergence of global supply chains and their increasing role in trade patterns allowed emerging market economies to boost their inputs in high-technology exports and is associated with increased trade interconnectedness.The analysis points to one important trend taking place over the last decade: the emergence of China as a major systemically important trading hub, reflecting not only the size of trade but also the increase in number of its significant trading partners.

The Transitional Costs to Trade Liberalization

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ISBN 13 :
Total Pages : 328 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis The Transitional Costs to Trade Liberalization by : Abeer Mohamed Elshennawy

Download or read book The Transitional Costs to Trade Liberalization written by Abeer Mohamed Elshennawy and published by . This book was released on 1998 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Money in International Exchange

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Publisher : New York : Oxford University Press
ISBN 13 : 0195024095
Total Pages : 307 pages
Book Rating : 4.1/5 (95 download)

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Book Synopsis Money in International Exchange by : Ronald I. McKinnon

Download or read book Money in International Exchange written by Ronald I. McKinnon and published by New York : Oxford University Press. This book was released on 1979 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: How do nations trade when no purely international money exists? This book describes how the use of national currencies, only some of which have the important international property of being convertible, allows most of world trade to be effectively monetized rather than bartered. Professor McKinnon's analysis represents the first attempt to focus on the microeconomic and monetary aspects of international exchange, and addresses unresolved problems in securing mutual monetary adjustment among the world's great trading economies.

Trade and Structural Adjustment Embracing Globalisation

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Publisher : OECD Publishing
ISBN 13 : 9264010971
Total Pages : 339 pages
Book Rating : 4.2/5 (64 download)

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Book Synopsis Trade and Structural Adjustment Embracing Globalisation by : OECD

Download or read book Trade and Structural Adjustment Embracing Globalisation written by OECD and published by OECD Publishing. This book was released on 2005-09-21 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade and Structural Adjustment: Embracing Globalisation identifies the requirements for successful reallocation of labour and capital to more efficient uses in response to the emergence of new sources of competition, technological change and shifting consumer preferences.

Trade Adjustment Assistance for Firms

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Publisher :
ISBN 13 : 9781629482491
Total Pages : 149 pages
Book Rating : 4.4/5 (824 download)

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Book Synopsis Trade Adjustment Assistance for Firms by : Griffin Hayward

Download or read book Trade Adjustment Assistance for Firms written by Griffin Hayward and published by . This book was released on 2014-05-14 with total page 149 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade liberalization can enhance the economic welfare of all trade partners, but in adjusting to greater competition, many import- competing firms and workers face difficult problems. Since 1962, Congress has responded to these adjustment costs by authorizing trade adjustment assistance (TAA) programs for workers, firms, and farmers, and continues to monitor their performance and amend the governing legislation. This book discusses the Trade Adjustment Assistance for Firms (TAAF) program, which provides technical assistance to trade- affected firms to help them develop strategies to remain competitive in a dynamic international economy. Legislation has been introduced in the 113th Congress that would reauthorize TAA programs, which are set to expire on December 31, 2013. President Obama also has supported TAA reauthorization, linking it to renewal of Trade Promotion Authority (TPA).

Adjusting Towards AFTA

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Publisher : Institute of Southeast Asian Studies
ISBN 13 : 9813055138
Total Pages : 119 pages
Book Rating : 4.8/5 (13 download)

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Book Synopsis Adjusting Towards AFTA by : Jayant Menon

Download or read book Adjusting Towards AFTA written by Jayant Menon and published by Institute of Southeast Asian Studies. This book was released on 1996 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt: The decision to establish the ASEAN Free Trade Area (AFTA) was initially met with widespread enthusiasm. Some of this enthusiasm has since dissipated as all countries except Singapore have voiced concerns regarding the ability of sensitive industries to compete in the new protection-free environment. Underlying these concerns is the view that the evolving pattern of trade will be more complementary, or that inter-industry of net trade will dominate intra-industry trade. This study employs a new methodology to analyse the dynamics of trade in the ASEAN countries as they approach the deadline of AFTA, with a view to identify likely adjustment costs associated with liberalizing their trade.