Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
Trade Adjustment Dynamics And The Welfare Gains From Trade
Download Trade Adjustment Dynamics And The Welfare Gains From Trade full books in PDF, epub, and Kindle. Read online Trade Adjustment Dynamics And The Welfare Gains From Trade ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
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.
Book Synopsis On Types of Trade, Adjustment of Labor and Welfare Gains During Asymmetric Liberalizations by : Yener Kandogan
Download or read book On Types of Trade, Adjustment of Labor and Welfare Gains During Asymmetric Liberalizations written by Yener Kandogan and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Trade Policy, Income Risk and Welfare by : Tom Krebs
Download or read book Trade Policy, Income Risk and Welfare written by Tom Krebs and published by World Bank Publications. This book was released on 2005 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper studies empirically the relationship between trade policy and individual income risk faced by workers, and uses the estimates of this empirical analysis to evaluate the welfare effect of trade reform. The analysis proceeds in three steps. First, longitudinal data on workers are used to estimate time-varying individual income risk parameters in various manufacturing sectors. Second, the estimated income risk parameters and data on trade barriers are used to analyze the relationship between trade policy and income risk. Finally, a simple dynamic incomplete-market model is used to assess the corresponding welfare costs. In the implementation of this methodology using Mexican data, we find that trade policy changes have a significant short run effect on income risk. Further, while the tariff level has an insignificant mean effect, it nevertheless changes the degree to which macroeconomic shocks affect income risk"--NBER website
Book Synopsis Trade Adjustment Assistance and Pareto Gains from Trade by : Robert C. Feenstra
Download or read book Trade Adjustment Assistance and Pareto Gains from Trade written by Robert C. Feenstra and published by . This book was released on 1991 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a model where all factors of production are imperfectly mobile, we argue that the Dixit-Norman scheme of commodity taxes may not lead to strict Pareto gains from trade. Rather, this scheme must be augmented by policies which give factors an incentive to move: hence, the role for trade adjustment assistance (TAA). We demonstrate that by knowledge of the distribution of adjustment costs across individuals, the government can offer a single TAA subsidy to all individuals willing to move between industries, and maintain a non-negative budget. The TAA subsidy, combined with the Dixit-Norman pattern of commodity taxes, can lead to Pareto gains from trade under the conditions we identify.
Book Synopsis The Welfare Economics of International Trade by : M. Kemp
Download or read book The Welfare Economics of International Trade written by M. Kemp and published by Taylor & Francis. This book was released on 2013-09-05 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a careful account of the leading propositions about the welfare gains associated with international trade and investment under differing institutional arrangements and policy choices.
Book Synopsis Welfare Gains from Trade by : Seyed Ali Madanizadeh
Download or read book Welfare Gains from Trade written by Seyed Ali Madanizadeh and published by . This book was released on 2017 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we propose a theoretical model of international trade that shows the welfare gains from trade are much higher than what Arkolakis et al 2014 find. We use the idea of weak linkages and the complementarity between the intermediate goods as in Jones 2011. The idea is simple. Production requires many different intermediate goods to get together and if the firm cannot purchase any of them from home nor from foreign, the production process fails. Same is true if any of these linkages are low productive and the firm cannot import it from a high productive sector from abroad. We propose a multi-industry multi-country trade model, and show that the complementarity of the intermediates goods results in much larger welfare gains than the current literature measures, using the same trade data. Also, similar to Ossa2015, we show that the variation of trade elasticities among industries greatly increases the welfare gains from trade; using Ossa's mechanism alongside the assumption of complementarity magnify the estimated welfare gains from trade.
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.
Book Synopsis Allocate Efficiency, Mark-ups, and the Welfare Gains from Trade by : Thomas J. Holmes
Download or read book Allocate Efficiency, Mark-ups, and the Welfare Gains from Trade written by Thomas J. Holmes and published by . This book was released on 2013 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Trade, Markets, and Welfare by : Kelvin Lancaster
Download or read book Trade, Markets, and Welfare written by Kelvin Lancaster and published by Edward Elgar Publishing. This book was released on 1996 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: In these papers, the author argues that protection can sometimes improve world welfare, that there can be mutual trade gains between absolutely identical economies and that entries of an additional firm may sometimes increase industry profits. Wages policy is also included in the discussion.
Book Synopsis WELFARE ECONOMICS AND THE GAINS FROM TRADE. by :
Download or read book WELFARE ECONOMICS AND THE GAINS FROM TRADE. written by and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Capital Accumulation and Dynamic Gains from Trade by : B. Ravikumar
Download or read book Capital Accumulation and Dynamic Gains from Trade written by B. Ravikumar and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We compute welfare gains from trade in a dynamic, multicountry model with capital accumulation. We examine transition paths for 93 countries following a permanent, uniform, unanticipated trade liberalization. Both the relative price of investment and the investment rate respond to changes in trade frictions. Relative to a static model, the dynamic welfare gains in a model with balanced trade are three times as large. The gains including transition are 60 percent of those computed by comparing only steady states. Trade imbalances have negligible effects on the cross-country distribution of dynamic gains. However, relative to the balanced-trade model, small, less-developed countries accrue the gains faster in a model with trade imbalances by running trade deficits in the short run but have lower consumption in the long-run. In both models, most of the dynamic gains are driven by capital accumulation.
Book Synopsis TFP, Capital Deepening, and Gains from Trade by : B. Ravikumar
Download or read book TFP, Capital Deepening, and Gains from Trade written by B. Ravikumar and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Global Welfare Impact of China by : Mr.Julian Di Giovanni
Download or read book The Global Welfare Impact of China written by Mr.Julian Di Giovanni and published by International Monetary Fund. This book was released on 2012-03-01 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper evaluates the global welfare impact of China's trade integration and technological change in a quantitative Ricardian-Heckscher-Ohlin model implemented on 75 countries. We simulate two alternative productivity growth scenarios: a "balanced" one in which China's productivity grows at the same rate in each sector, and an "unbalanced" one in which China's comparative disadvantage sectors catch up disproportionately faster to the world productivity frontier. Contrary to a well-known conjecture (Samuelson, 2004), the large majority of countries in the sample, including the developed ones, experience an order of magnitude larger welfare gains when China's productivity growth is biased towards its comparative disadvantage sectors. We demonstrate both analytically and quantitatively that this finding is driven by the inherently multilateral nature of world trade. As a separate but related exercise we quantify the worldwide welfare gains from China's trade integration.
Book Synopsis Establishment Heterogeneity, Exporter Dynamics, and the Effects of Trade Liberalization by : George Alessandria
Download or read book Establishment Heterogeneity, Exporter Dynamics, and the Effects of Trade Liberalization written by George Alessandria and published by . This book was released on 2011 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors study the effects of tariffs in a dynamic variation of the Melitz (2003) model, a monopolistically competitive model with heterogeneity in productivity across establishments and fixed costs of exporting. With fixed costs of starting to export that are on average 3.7 times as large as the costs incurred to continue as an exporter, the model can match both the size distribution of exporters and annual transition in and out of exporting among US manufacturing establishments. The authors find that the tariff equivalent of these fixed costs is nearly 30 percentage points. They use the calibrated model to estimate the effect of reducing tariffs on welfare, trade, and export participation. The authors find sizeable gains to moving to free trade equivalent to 1.03 percent of steady state consumption. Considering the transition dynamics following the cut in tariffs, they find that the model predicts economic activity overshoots its steady state, with the peak in output coming 10 years after the trade reform. Because of this overshooting, steady state changes in consumption understate the welfare gain to trade reform. The authors also find simpler trade models that abstract from these export dynamics provide a poor approximation of the aggregate responses from our more general model.
Book Synopsis The Welfare Gain from Trade in Factors by : Ronald D. Fischer
Download or read book The Welfare Gain from Trade in Factors written by Ronald D. Fischer and published by . This book was released on 1998 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Zweisimmen (Obersimmental, Berner Oberland) by :
Download or read book Zweisimmen (Obersimmental, Berner Oberland) written by and published by . This book was released on 1911 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Measureable Dynamic Gains from Trade by : Richard Baldwin
Download or read book Measureable Dynamic Gains from Trade written by Richard Baldwin and published by . This book was released on 1989 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Productive factors such as human and physical capital are accumulated and trade can affect the steady-state levels of such factors. Consequently, trade liberalization will have dynamic effects on output and welfare as the economy moves to its new steady state, in addition to its usual static effects. The output impact of this dynamic effect is measurable and appears to be quite large. The welfare impact of this dynamic effect is also measurable. The size of this dynamic gain from trade depends on the importance of external scale economies.
