Us Job Flows And The China Shock

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U.S. Job Flows and the China Shock

Author : Brian J. Asquith
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (15 download)

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Book Synopsis U.S. Job Flows and the China Shock by : Brian J. Asquith

Download or read book U.S. Job Flows and the China Shock written by Brian J. Asquith and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: International trade exposure affects job creation and destruction along the intensive margin (job flows due to expansions and contractions of firms' employment) as well as along the extensive margin (job flows due to births and deaths of firms). This paper uses 1992-2011 employment data from the {universe} of U.S. establishments to construct job flows at both the industry and commuting-zone levels, and then estimates the impact of the `China shock' on each job-flow type. The China shock is accounted for by either the increase in Chinese import penetration in the U.S., or by the U.S. policy change that granted Permanent Normal Trade Relations (PNTR) status to China. We find that the China shock affects U.S. employment mainly through deaths of establishments. At the commuting-zone level, we find evidence of large job reallocation from the Chinese-competition exposed sector to the nonexposed sector, and establish that the gross employment effects of the China shock are fundamentally different from those of a more general adverse shock affecting the U.S. demand for domestic labor.

U.S. Job Flows and the China Shock

Author : Brian J. Asquith
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (11 download)

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Book Synopsis U.S. Job Flows and the China Shock by : Brian J. Asquith

Download or read book U.S. Job Flows and the China Shock written by Brian J. Asquith and published by . This book was released on 2017 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: International trade exposure affects job creation and destruction along the intensive margin (job flows due to expansions and contractions of firms' employment) as well as along the extensive margin (job flows due to births and deaths of firms). This paper uses 1992-2011 employment data from the {universe} of U.S. establishments to construct job flows at both the industry and commuting-zone levels, and then estimates the impact of the `China shock' on each job-flow type. The China shock is accounted for by either the increase in Chinese import penetration in the U.S., or by the U.S. policy change that granted Permanent Normal Trade Relations (PNTR) status to China. We find that the China shock affects U.S. employment mainly through deaths of establishments. At the commuting-zone level, we find evidence of large job reallocation from the Chinese-competition exposed sector to the nonexposed sector, and establish that the gross employment effects of the China shock are fundamentally different from those of a more general adverse shock affecting the U.S. demand for domestic labor.

The China Shock

Author :
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (944 download)

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Book Synopsis The China Shock by :

Download or read book The China Shock written by and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Does Import Competition Induce R&D Reallocation? Evidence from the U.S.

Author : Rui Xu
Publisher : International Monetary Fund
ISBN 13 : 1484326008
Total Pages : 44 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Does Import Competition Induce R&D Reallocation? Evidence from the U.S. by : Rui Xu

Download or read book Does Import Competition Induce R&D Reallocation? Evidence from the U.S. written by Rui Xu and published by International Monetary Fund. This book was released on 2017-11-16 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze the impact of rising import competition from China on U.S. innovative activities. Using Compustat data, we find that import competition induces R&D expenditures to be reallocated towards more productive and more profitable firms within each industry. Such reallocation effect has the potential to offset the average drop in firm-level R&D identified in the previous literature. Indeed, our quantitative analysis shows no adverse impact of import competition on aggregate R&D expenditures. Taking the analysis beyond manufacturing, we find that import competition has led to reallocation of researchers towards booming service industries, including business and repairs, personal services, and financial services.

On the Persistence of the China Shock

Author : David H. Autor
Publisher :
ISBN 13 :
Total Pages : 57 pages
Book Rating : 4.:/5 (128 download)

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Book Synopsis On the Persistence of the China Shock by : David H. Autor

Download or read book On the Persistence of the China Shock written by David H. Autor and published by . This book was released on 2021 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract We evaluate the duration of the China trade shock and its impact on a wide range of outcomes over the period 2000 to 2019. The shock plateaued in 2010, enabling analysis of its effects for nearly a decade past its culmination. Adverse impacts of import competition on manufacturing employment, overall employment-population ratios, and income per capita in more trade-exposed U.S. commuting zones are present out to 2019. Over the full study period, greater import competition implies a reduction in the manufacturing employment-population ratio of 1.54 percentage points, which is 55% of the observed change in the value, and the absorption of 86% of this net job loss via a corresponding decrease in the overall employment rate. Reductions in population headcounts, which indicate net out-migration, register only for foreign-born workers and the native-born 25-39 years old, implying that exit from work is a primary means of adjustment to trade-induced contractions in labor demand. More negatively affected regions see modest increases in the uptake of government transfers, but these transfers primarily take the form of Social Security and Medicare benefits. Adverse outcomes are more acute in regions that initially had fewer college-educated workers and were more industrially specialized. Impacts are qualitatively--but not quantitatively--similar to those caused by the decline of employment in coal production since the 1980s, indicating that the China trade shock holds lessons for other episodes of localized job loss. Import competition from China induced changes in income per capita across local labor markets that are much larger than the spatial heterogeneity of income effects predicted by standard quantitative trade models. Even using higher-end estimates of the consumer benefits of rising trade with China, a substantial fraction of commuting zones appears to have suffered absolute declines in average real incomes.

Labor Markets and Business Cycles

Author : Robert Shimer
Publisher : Princeton University Press
ISBN 13 : 1400835232
Total Pages : 189 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Labor Markets and Business Cycles by : Robert Shimer

Download or read book Labor Markets and Business Cycles written by Robert Shimer and published by Princeton University Press. This book was released on 2010-04-12 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt: Labor Markets and Business Cycles integrates search and matching theory with the neoclassical growth model to better understand labor market outcomes. Robert Shimer shows analytically and quantitatively that rigid wages are important for explaining the volatile behavior of the unemployment rate in business cycles. The book focuses on the labor wedge that arises when the marginal rate of substitution between consumption and leisure does not equal the marginal product of labor. According to competitive models of the labor market, the labor wedge should be constant and equal to the labor income tax rate. But in U.S. data, the wedge is strongly countercyclical, making it seem as if recessions are periods when workers are dissuaded from working and firms are dissuaded from hiring because of an increase in the labor income tax rate. When job searches are time consuming and wages are flexible, search frictions--the cost of a job search--act like labor adjustment costs, further exacerbating inconsistencies between the competitive model and data. The book shows that wage rigidities can reconcile the search model with the data, providing a quantitatively more accurate depiction of labor markets, consumption, and investment dynamics. Developing detailed search and matching models, Labor Markets and Business Cycles will be the main reference for those interested in the intersection of labor market dynamics and business cycle research.

China 2049

Author : David Dollar
Publisher : Brookings Institution Press
ISBN 13 : 0815738064
Total Pages : 444 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis China 2049 by : David Dollar

Download or read book China 2049 written by David Dollar and published by Brookings Institution Press. This book was released on 2020-06-09 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: How will China reform its economy as it aspires to become the next economic superpower? It's clear that China is the world's next economic superpower. But what isn't so clear is how China will get there by the middle of this century. It now faces tremendous challenges such as fostering innovation, dealing with ageing problem and coping with a less accommodative global environment. In this book, economists from China's leading university and America's best-known think tank offer in depth analyses of these challenges. Does China have enough talent and right policy and institutional mix to transit from input-driven to innovation-driven economy? What does ageing mean, in terms of labor supply, consumption demand and social welfare expenditure? Can China contain the environmental and climate change risks? How should the financial system be transformed in order to continuously support economic growth and keep financial risks under control? What fiscal reforms are required in order to balance between economic efficiency and social harmony? What roles should the state-owned enterprises play in the future Chinese economy? In addition, how will technological competition between the United States and China affect each country's development? Will the Chinese yuan emerge as a major reserve currency, and would this destabilize the international financial system? What will be China's role in the international economic institutions? And will the United States and other established powers accept a growing role for China and the rest of the developing world in the governance of global institutions such as the World Trade Organization and the International Monetary Fund, or will the world devolve into competing blocs? This book provides unique insights into independent analyses and policy recommendations by a group of top Chinese and American scholars. Whether China succeeds or fails in economic reform will have a large impact, not just on China's development, but also on stability and prosperity for the whole world.

Trade Wars are Class Wars

Author : Matthew C. Klein
Publisher : Yale University Press
ISBN 13 : 0300244177
Total Pages : 292 pages
Book Rating : 4.3/5 (2 download)

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Book Synopsis Trade Wars are Class Wars by : Matthew C. Klein

Download or read book Trade Wars are Class Wars written by Matthew C. Klein and published by Yale University Press. This book was released on 2020-01-01 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This is a very important book."--Martin Wolf, Financial TimesA provocative look at how today's trade conflicts are caused by governments promoting the interests of elites at the expense of workers Longlisted for the 2020 Financial Times & McKinsey Business Book of the Year Award "Worth reading for [the authors'] insights into the history of trade and finance."--George Melloan, Wall Street Journal Trade disputes are usually understood as conflicts between countries with competing national interests, but as Matthew C. Klein and Michael Pettis show, they are often the unexpected result of domestic political choices to serve the interests of the rich at the expense of workers and ordinary retirees. Klein and Pettis trace the origins of today's trade wars to decisions made by politicians and business leaders in China, Europe, and the United States over the past thirty years. Across the world, the rich have prospered while workers can no longer afford to buy what they produce, have lost their jobs, or have been forced into higher levels of debt. In this thought-provoking challenge to mainstream views, the authors provide a cohesive narrative that shows how the class wars of rising inequality are a threat to the global economy and international peace--and what we can do about it.

Making Of An Economic Superpower, The: Unlocking China's Secret Of Rapid Industrialization

Author : Yi Wen
Publisher : World Scientific
ISBN 13 : 9814733741
Total Pages : 336 pages
Book Rating : 4.8/5 (147 download)

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Book Synopsis Making Of An Economic Superpower, The: Unlocking China's Secret Of Rapid Industrialization by : Yi Wen

Download or read book Making Of An Economic Superpower, The: Unlocking China's Secret Of Rapid Industrialization written by Yi Wen and published by World Scientific. This book was released on 2016-05-13 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rise of China is no doubt one of the most important events in world economic history since the Industrial Revolution. Mainstream economics, especially the institutional theory of economic development based on a dichotomy of extractive vs. inclusive political institutions, is highly inadequate in explaining China's rise. This book argues that only a radical reinterpretation of the history of the Industrial Revolution and the rise of the West (as incorrectly portrayed by the institutional theory) can fully explain China's growth miracle and why the determined rise of China is unstoppable despite its current 'backward' financial system and political institutions. Conversely, China's spectacular and rapid transformation from an impoverished agrarian society to a formidable industrial superpower sheds considerable light on the fundamental shortcomings of the institutional theory and mainstream 'blackboard' economic models, and provides more-accurate reevaluations of historical episodes such as Africa's enduring poverty trap despite radical political and economic reforms, Latin America's lost decades and frequent debt crises, 19th century Europe's great escape from the Malthusian trap, and the Industrial Revolution itself.

Magnification of the "China Shock" Through the U.S. Housing Market

Author : Yuan Xu
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (114 download)

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Book Synopsis Magnification of the "China Shock" Through the U.S. Housing Market by : Yuan Xu

Download or read book Magnification of the "China Shock" Through the U.S. Housing Market written by Yuan Xu and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 'China shock' operated in part through the housing market, and that is an important reason why the China shock was as big as it was. If housing prices had not responded at all to the China shock, then the total employment effect of the China shock would have been reduced by more than one-half. Housing prices in the United States did respond to the China shock, however, so the independent employment effect of the China shock is reduced by about 20-30%, with that remainder reflecting exogenous changes in housing prices.

The China Shock, Employment Protection, and European Jobs

Author : Hedieh Aghelmaleki
Publisher :
ISBN 13 : 9783863043278
Total Pages : pages
Book Rating : 4.0/5 (432 download)

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Book Synopsis The China Shock, Employment Protection, and European Jobs by : Hedieh Aghelmaleki

Download or read book The China Shock, Employment Protection, and European Jobs written by Hedieh Aghelmaleki and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Exports to Jobs

Author : Erhan Artuc
Publisher : World Bank Publications
ISBN 13 : 1464812497
Total Pages : 215 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Exports to Jobs by : Erhan Artuc

Download or read book Exports to Jobs written by Erhan Artuc and published by World Bank Publications. This book was released on 2019-02-25 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: South Asia has grown rapidly with significant reductions in poverty, but it has not been able to match the fast-growing working age population, leading to lingering concerns about jobless growth and poor job quality. Could export growth in South Asia result in better labor market outcomes? The answer is yes, according to our study, which rigorously estimates—using a new methodology—the potential impact from higher South Asian exports per worker on wages and employment over a 10-year period. Our study shows the positive side of trade. It finds that increasing exports per worker would result in higher wages—mainly for better-off groups, like more educated workers, males, and more-experienced workers—although less-skilled workers would see the largest reduction in informality. How can the benefits be spread more widely? Our study suggests that scaling up exports in labor-intensive industries could significantly lower informality for groups like rural and less-educated workers in the region. Also, increasing skills, and participation of women and young workers in the labor force could make an even bigger dent in informal employment. The region could achieve these gains by: (i) boosting and connecting exports to people (e.g., removing trade barriers and investment in infrastructure); (ii) eliminating distortions in production (e.g., by more efficient allocation of inputs); and (iii) protecting workers (e.g., by investing in education and skills).

Adjusting to Globalization

Author : David Greenaway
Publisher : Wiley-Blackwell
ISBN 13 : 9781405131698
Total Pages : 176 pages
Book Rating : 4.1/5 (316 download)

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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.

China, Inc

Author : Ted C. Fishman
Publisher : Simon and Schuster
ISBN 13 : 9780743257527
Total Pages : 364 pages
Book Rating : 4.2/5 (575 download)

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Book Synopsis China, Inc by : Ted C. Fishman

Download or read book China, Inc written by Ted C. Fishman and published by Simon and Schuster. This book was released on 2005 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: What will happen when China can make nearly everything the U.S. and Europe can make--at one-third the cost? Fishman delves into dangerous question that not everyone wants answered.

Aftershock

Author : David Wiedemer
Publisher : John Wiley & Sons
ISBN 13 : 1118127528
Total Pages : 314 pages
Book Rating : 4.1/5 (181 download)

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Book Synopsis Aftershock by : David Wiedemer

Download or read book Aftershock written by David Wiedemer and published by John Wiley & Sons. This book was released on 2011-07-07 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical guide to preparing for the next phase of the financial meltdown From the authors who were the first to predict Phase I of our current economic downturn-in their landmark 2006 book, America's Bubble Economy-comes their insightful sequel discussing their predictions for the next phase of the Bubble Economy. It may seem like the worst has come and gone, but it hasn't. With their proven track record of accurate predictions-which most financial professionals and economists missed-the authors explain how and why the next phase of the financial meltdown is about to hit. Things are not going back to how they were before. Instead, we are moving through uncharted territory, with new challenges and opportunities that few people can anticipate. Written in a straightforward and accessible style, Aftershock shows readers how to seek safety and profits in these dynamic economic conditions. Discusses how to protect assets, businesses, and jobs before and during the second wave of financial meltdown Provides clear and accurate advice on how to profit from the collapsing bubbles Offer focused guidance regarding real estate, which will continue to be a pressing concern for many The authors' first book was chosen by Kiplinger's as one of the 30 Best Business Books of 2006, and its accuracy has been hailed by Paul Farrell of Dow Jones MarketWatch when he said "America's Bubble Economy's Predictions, though ignored, were accurate." Don't miss out on these time tested author's proven advice for how to mange your money during the coming financial meltdown.

Economic Report of the President Transmitted to the Congress

Author : United States. President
Publisher :
ISBN 13 :
Total Pages : 570 pages
Book Rating : 4.3/5 (121 download)

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Book Synopsis Economic Report of the President Transmitted to the Congress by : United States. President

Download or read book Economic Report of the President Transmitted to the Congress written by United States. President and published by . This book was released on 2018 with total page 570 pages. Available in PDF, EPUB and Kindle. Book excerpt: Represents the annual report of the President's Council of Economic Advisers. Appendix B contains historical tables (from 1959 or earlier) on aspects of income (national, personal, and corporate), production, prices, employment, investment, taxes and transfers, and money and finance.

When China Attacks

Author : Grant Newsham
Publisher : Simon and Schuster
ISBN 13 : 1684513650
Total Pages : 418 pages
Book Rating : 4.6/5 (845 download)

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Book Synopsis When China Attacks by : Grant Newsham

Download or read book When China Attacks written by Grant Newsham and published by Simon and Schuster. This book was released on 2023-03-28 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: When China Attacks is a fire bell in the night—a warning about a war that we are already losing. It offers a frightening, and well-founded, blow-by-blow account of what might happen next. China poses an existential threat to America, warns a veteran intelligence officer, and the window for an effective response is closing fast. Col. Grant Newsham, a former reserve head of intelligence for Marine Forces Pacific, delivers a blow-by-blow account of how the threat has developed, from the growing skill and belligerence of the Chinese military to gray-zone campaigns to hollow out America’s will to resist. These efforts that have now reached fruition. You can see the war damage in Baltimore, Erie, Buffalo, and countless other communities across the United States. With decades of experience in Asia, including as a U.S. Marine, a diplomat, and an executive with Morgan Stanley and Motorola in Japan, Col. Newsham brings together the military, political, economic and social to provide insights into how far along we already are, and what needs to be done. Now. The question is not whether the Chinese will attack. They already have. It is trying to kill our economy, our institutions, our way of life, our people. It is dominant in the world economy. It is a master of intellectual property theft. It shows strategic genius at cornering essential markets. It has been staggeringly successful in buying influence among American elites. It is killing us with Fentanyl. And its military buildup is astonishing. So far, China has been waging a mostly covert war on the United States and its allies. But, emboldened by American weakness and perceived decline, the war could soon explode into the open. The flashpoint will be Taiwan—but the war will extend over the entire Pacific Theater and beyond. The results—as Col. Newsham paints in stark detail—will be devastating. America risks a humiliating retreat, with almost unimaginable costs to our economy and security. Will America fight back before the cold war that Communist China is waging against America and its allies goes hot? The conflict is coming. We’re not ready. China is already attacking America. Is American defeat inevitable? No, but we must change course immediately. And to do that, we must wake up and heed the sobering message of When China Attacks.