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Terms Of Trade Shocks Labor Market Adjustment And Safeguard Measures
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Book Synopsis Terms of Trade Shocks, Labor-Market Adjustment and Safeguard Measures by : James D. Gaisford
Download or read book Terms of Trade Shocks, Labor-Market Adjustment and Safeguard Measures written by James D. Gaisford and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores a simple model of labor market adjustment where inter-sectoral transfer in response to terms of trade shocks involves both sector-specific skill acquisition and workplace disruption. Externalities arise because the marginal migrant does not consider the congestion costs imposed on intra-marginal migrants or the disruption costs imposed on the incumbent workers in both sectors. While these externalities give rise to a case for temporary adjustment assistance, the analysis does not support the use of trade measures such as tariffs.
Book Synopsis A Noteon Terms of Trade Shocks and the Wage Gap by : International Monetary Fund
Download or read book A Noteon Terms of Trade Shocks and the Wage Gap written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-12-01 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using Chilean data, we document that for resource-rich small open economies the effects of terms of trade shocks on the wage gap (between skilled and unskilled workers) depend on factor intensities in the non-tradable sector, following the model in Galiani, Heymann, and Magud (2010). For a skilled-intensive non-tradable sector we show that improvements in the terms of trade benefit skilled workers. We also show that this relation holds at the industry level: the wage gap widens in skilled-intensive sectors while it shrinks in unskilled-intensive ones, the more so as terms of trade volatility decreases.
Book Synopsis Labor Market Shocks and the Demand for Trade Protection by : Rafael Di Tella
Download or read book Labor Market Shocks and the Demand for Trade Protection written by Rafael Di Tella and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study preferences for government action in response to layoffs resulting from different types of labor-market shocks. We consider the following shocks: technological change, a demand shift, bad management, and three kinds of international outsourcing. Respondents are given a choice among no government action, compensatory transfers, and trade protection. In response to these shocks, support for government intervention generally rises sharply and is heavily biased towards trade protection. Demand for import protection increases significantly in all cases, except for the "bad management" shock. Trade shocks generate more demand for protectionism, and among trade shocks, outsourcing to a developing country elicits greater demand for protectionism than outsourcing to a developed country. The "bad management" shock is the only scenario that induces a desired increase in compensatory transfers. Effects appear to be heterogeneous across subgroups with different political preferences and education. Trump supporters are more protectionist than Clinton supporters, but preferences seem easy to manipulate: Clinton supporters primed with trade shocks are as protectionist as baseline Trump voters. Highlighting labor abuses in the exporting country increases the demand for trade protection by Clinton supporters but not Trump supporters.
Book Synopsis Trade Shocks and Labor Adjustment by : Erhan Artuc
Download or read book Trade Shocks and Labor Adjustment written by Erhan Artuc and published by . This book was released on 2007 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: The welfare effects of trade shocks depend crucially on the nature and magnitude of the costs workers face in moving between sectors. The existing trade literature does not directly address this, assuming perfect mobility or complete immobility, or adopting reduced-form approaches to estimation. We present a model of dynamic labor adjustment that does, and which is, moreover, consistent with a key empirical fact: that intersectoral gross flows greatly exceed net flows. Using an Euler-type equilibrium condition, we estimate the mean and the variance of workers' switching costs from the U.S. March Current Population Surveys. We estimate high values of both parameters, implying both slow adjustment of the economy, and sharp movements in wages, in response to a trade shock. Simulations of a trade liberalization indicate that despite the high estimated adjustment cost, in terms of lifetime welfare, the liberalization is Pareto-improving. The explanation for this surprising finding -- which would be missed by a reduced-form approach -- is that the high variance to costs ensures high rates of gross flow; this helps spread the liberalization's benefits around.
Book Synopsis The Labor Market and Economic Adjustment by : Pierre-Richard Agénor
Download or read book The Labor Market and Economic Adjustment written by Pierre-Richard Agénor and published by International Monetary Fund. This book was released on 1995-11-01 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the role of the labor market in the transmission process of adjustment policies in developing countries. It begins by reviewing the recent evidence regarding the functioning of these markets. It then studies the implications of wage inertia, nominal contracts, labor market segmentation, and impediments to labor mobility for stabilization policies. The effect of labor market reforms on economic flexibility and the channels through which labor market imperfections alter the effects of structural adjustment measures are discussed next. The last part of the paper identifies a variety of issues that may require further investigation, such as the link between changes in relative wages and the distributional effects of adjustment policies.
Book Synopsis Trade Shocks and the Magnitude of Transmitted Wage Adjustments by : Rodney E. Falvey
Download or read book Trade Shocks and the Magnitude of Transmitted Wage Adjustments written by Rodney E. Falvey and published by . This book was released on 1997 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Trade Shocks and Labor Adjustment by : Stephen V. Cameron
Download or read book Trade Shocks and Labor Adjustment written by Stephen V. Cameron and published by . This book was released on 2007 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: "We construct a dynamic, stochastic rational expectations model of labor reallocation within a trade model that is designed so that its key parameters can be estimated for trade policy analysis. A key feature is the presence of time-varying idiosyncratic moving costs faced by workers. As a consequence of these shocks: (i) Gross flows exceed net flows (an important feature of empirical labor movements); (ii) the economy features gradual and anticipatory adjustment to aggregate shocks; (iii) wage differentials across locations or industries can persist in the steady state; and (iv) the normative implications of policy can be very different from a model without idiosyncratic shocks, even when the aggregate behaviour of both models is similar. It is shown that the equilibrium solves a particular planner's problem, thus facilitating analytical results, econometric estimation, and simulation of the model for policy analysis"--National Bureau of Economic Research web site.
Book Synopsis International Trade with Equilibrium Unemployment by : Carl Davidson
Download or read book International Trade with Equilibrium Unemployment written by Carl Davidson and published by Princeton University Press. This book was released on 2010 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: While most standard economic models of international trade assume full employment, Carl Davidson and Steven Matusz have argued over the past two decades that this reliance on full-employment modeling is misleading and ill-equipped to tackle many important trade-related questions. This book brings together the authors' pioneering work in creating models that more accurately reflect the real-world connections between international trade and labor markets. The material collected here presents the theoretical and empirical foundations of equilibrium unemployment modeling, which the authors and their collaborators developed to give researchers and policymakers a more realistic picture of how international trade affects labor markets, and of how transnational differences in labor markets affect international trade. They address the shortcomings of standard models, describe the empirics that underlie equilibrium unemployment models, and illustrate how these new models can yield vital insights into the relationship between international trade and employment. This volume also includes an indispensable general introduction as well as concise section introductions that put the authors' work in context and reveal the thinking behind their ideas. Economists are only now realizing just how important these ideas are, making this book essential reading for researchers and students.
Download or read book Sticky Feet written by Claire H. Hollweg and published by World Bank Publications. This book was released on 2014-07-03 with total page 123 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report quantifies labor mobility costs in developing countries and simulates the implied adjustment paths of employment and wages following a change in trade policy. High mobility costs are shown to reduce the potential gains to trade reform.
Book Synopsis Adjusting to Globalization by : David Greenaway
Download or read book Adjusting to Globalization written by David Greenaway and published by Wiley-Blackwell. This book was released on 2005-05-20 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume investigates the ways in which firms and workers are adjusting to globalization. A collection of cutting-edge essays investigating the ways in which firms and workers are adjusting to globalization. Written by leading researchers in the field. Covers such issues as: outsourcing; the productivity effects of entry to export markets; job losses and wage insurance; and the protection of intellectual property. Presents original research on adjusting to globalization. Provides important insights into the microeconomics effects of globalization. Highlights key issues for policy makers.
Book Synopsis Palgrave Handbook of International Trade by : David Greenaway
Download or read book Palgrave Handbook of International Trade written by David Greenaway and published by Springer. This book was released on 2016-11-09 with total page 727 pages. Available in PDF, EPUB and Kindle. Book excerpt: International trade is the core foundation of globalisation. This current and up-to-date volume brings together the finest academics working in the field today, containing contributions in key areas of policy research, such as, modelling frameworks, trade policy, trade and migration, trade and the environment, trade and unemployment.
Book Synopsis Essays on Trade Shocks and Local Labor Markets by : Chan Yu
Download or read book Essays on Trade Shocks and Local Labor Markets written by Chan Yu and published by . This book was released on 2020 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first two chapters of the dissertation study how local labor market adjusts to trade shocks. The last chapter explores the relationship between economic condition change and health outcomes. In what follows, I describe my three essays. The first chapter proposes a mechanism through which local labor markets adjust to trade shocks: immigrants’ mobility. I find that immigrants are more responsive than natives to trade shocks. A $1000 increase in the import exposure leads to a 2.6 percent decline in the immigrant population but has little change in the native population. Additionally, immigrant mobility reduces the negative effects of trade shocks on native employment and wages. The study ultimately shows that natives in areas with more immigrants experience smaller declines in employment and wages. The second chapter studies the disparate impacts of trade liberalization on U.S. workers according to gender and age. Focusing on US-China trade shocks that occurred between 1990-2007, I show that these trade shocks generated larger declines in manufacturing employment and wages for older women than for older men. In contrast to prior studies, I find that discrimination and gender differences in industrial employment play relatively small roles in explaining this pattern. Instead, I present evidence that women's career interruptions from marriage and motherhood provide a more promising explanation. Within an age cohort, trade shocks depress labor market outcomes more strongly for married women with children than their male counterparts. The last chapter estimates the impact on infant birth outcomes of the farm credit crisis that hit the U.S. Midwest in the 1980s. Exploiting county-level variation in agricultural loans before the crisis, I use a difference-in-differences methodology to show that counties with more pre-existing farmland loans (per acre) experienced relatively worse infant health outcomes as the crisis unfolded. My estimates indicate that a $100 dollar increase in farmland loan (per acre) increased the incidence of low birth weight by around 0.4 percentage points and reduced the birth weight by 19 grams. Other findings show that the credit crisis intensified financial distress and tightened financial constraints for affected households, economic pressures that potentially provide a mechanism for the impact on birth outcomes. Counties that had purchased more farmland prior to the crisis suffered larger declines in their farm earnings, higher delinquency rates, and more bank failures
Book Synopsis Terms of Trade Disturbances, Real Exchange Rates and Welfare by : Sebastian Edwards
Download or read book Terms of Trade Disturbances, Real Exchange Rates and Welfare written by Sebastian Edwards and published by . This book was released on 1989 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many arguments that have been advanced in favor of maintaining capital control within the EEC have not paid sufficient attention to the welfare consequences of this type of market intervention. Our paper provides a simple, optimizing framework in which the welfare consequences of capital controls can be assessed. Two main issues are considered. First, how do capital controls affect the adjustment of macroeconomic variables to real disturbances? Second, what is the nature of second best arguments for maintaining capital controls given that certain distortions will remain after the European single market is in place in 1992?
Book Synopsis Property and Sovereignty by : Professor James Charles Smith
Download or read book Property and Sovereignty written by Professor James Charles Smith and published by Ashgate Publishing, Ltd.. This book was released on 2014-01-28 with total page 483 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the relationships between property and the concept of sovereignty from a number of different perspectives. It distinguishes between the dual meaning of 'sovereignty' in property discourse - political sovereignty and owner sovereignty. The contributors discuss the nature of sovereignty in both senses, applying it to a wide range of topics such as the evolution of property rights in fragile and conflict-affected nation states, and notions of sovereign property in new worlds. A section on the Arts illuminates the relationships between property, sovereignty, and culture, and a further section investigates regulatory property and governmental control over resources. The book concludes with an exploration of sovereign shaping of private property entitlements to achieve instrumental ends. This interesting collection will be valuable to those in the fields of legal philosophy, property theory, international and comparative law, and political sociology. This book explores the relationships between property and the concept of sovereignty from a number of different perspectives. It distinguishes between the dual meaning of ‘sovereignty’ in property discourse - political sovereignty and owner sovereignty. The contributors discuss the nature of sovereignty in both senses, applying it to a wide range of topics such as the evolution of property rights in fragile and conflict-affected nation states and notions of sovereign property in new worlds. A section on The Arts illuminates the relationships between property, sovereignty and culture and a further section investigates regulatory property and governmental control over resources. The book concludes with an exploration of sovereign shaping of private property entitlements to achieve instrumental ends. This interesting collection will be valuable to those in the fields of legal philosophy, property theory, international and comparative law, and political sociology.
Book Synopsis Handbook on International Trade Policy by : William Alexander Kerr
Download or read book Handbook on International Trade Policy written by William Alexander Kerr and published by Edward Elgar Publishing. This book was released on 2007 with total page 564 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'This book obtains its broad expertise by pulling together expertise from a wide range of experts in the way that each chapter is written by authors specialized in the topic addressed. . . This Handbook on international trade policy is a good summary of theories, policy instruments and their effects and is written in an understandable manner. Most parts are suited for students and those who want to start understanding international trade policy. It is also useful for researchers, policy-makers and practitioners looking for quick guidance on different topics in international trade policy. The clear structure of the book organized by topics allows for a quick and easy reference.' – Martin Grass, Quarterly Journal of International Agriculture The Handbook on International Trade Policy is an insightful and comprehensive reference tool focusing on trade policy issues in the era of globalization. Each specially commissioned chapter deals with important international trade issues, discusses the current literature on the subject, and explores major controversies. The Handbook also directs the interested reader to further sources of information. The expert contributors cover both traditional and more current concerns including: • history of thought on trade policy • the development of multilateral organizations such as the World Trade Organization • border restrictions and subsidies • regional trade agreements • trade and the environment • animal, plant and food safety measures • international protection of intellectual property and sanctions. Presenting a broad and state-of-the-art perspective on the topic, this highly accessible Handbook will prove an invaluable resource to researchers, academics, policymakers and practitioners concerned with international trade policy.
Book Synopsis The WTO, Safeguards, and Temporary Protection from Imports by : Chad Philips Bown
Download or read book The WTO, Safeguards, and Temporary Protection from Imports written by Chad Philips Bown and published by . This book was released on 2006 with total page 560 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of theoretical and empirical papers examines the legal, economic and political justifications for the controversial use of WTO Safeguard mechanisms.
Book Synopsis Safeguard Measures in World Trade by : Yong-Shik Lee
Download or read book Safeguard Measures in World Trade written by Yong-Shik Lee and published by Edward Elgar Publishing. This book was released on 2014-02-28 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: Safeguard Measures in World Trade tackles the controversial issue of restrictions on imports. Professor Yong-Shik Lee skillfully argues that Safeguards interfere substantially with the normal stream of trade, and their improper application undermines t
