The conundrum of recovery policies: growth or jobs?
In: Volkswirtschaftliche Diskussionsbeiträge 76
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In: Volkswirtschaftliche Diskussionsbeiträge 76
In: Economics & politics, Band 4, Heft 1, S. 43-60
ISSN: 1468-0343
We construct a two‐period model of industry‐specific quid pro quo direct foreign investment (DFI) which occurs with the view to increasing the level of a future voluntary export restraint (VER). The wage and the VER are determined through Nash bargaining.We identify the conditions which generate quid pro quo DFI and examine its effects on profits, the utility of the union and welfare. In the absence of political‐economy considerations, more DFI increases the degree of endogenous protection.
In: Economics & politics, Band 1, Heft 2, S. 145-160
ISSN: 1468-0343
The paper analyzes the phenomenon of industry‐specific direct foreign investment (DFI) which occurs with the view to defusing the threat of future protection by the host country (quid pro quo), under alternative imperfectly competitive market structures. It is established that, even in the absence of government intervention, firms in imperfectly competitive markets change the level of trade and DFI in response to future protectionist threats.
In: Journal of international economics, Band 25, Heft 1-2, S. 95-110
ISSN: 0022-1996
In: Journal of international economics, Band 14, Heft 3-4, S. 395-410
ISSN: 0022-1996
In: The Canadian journal of economics: the journal of the Canadian Economics Association = Revue canadienne d'économique, Band 50, Heft 2, S. 365-397
ISSN: 1540-5982
AbstractThis study proposes a simple theory of trade with endogenous firm productivity, occupational choice and income inequality. Individuals with different managerial talent choose to become entrepreneurs or workers. Entrepreneurs enhance firm productivity by investing in managerial capital. The model generates three income classes: low‐income workers facing the prospect of unemployment, middle‐income entrepreneurs managing domestic firms and high‐income entrepreneurs managing global firms. Trade liberalization policies raise unemployment and improve welfare. A reduction in per‐unit trade costs raises top incomes and generates labour‐market polarization. A reduction in fixed exporting costs has an ambiguous effect on top incomes and personal income distribution. Policies reducing labour‐market frictions or the costs of managerial‐capital acquisition create more jobs and improve welfare. The income distributional effects of labour‐market policies depend on which policy is implemented.
In: Journal of economic dynamics & control, Band 37, Heft 1, S. 68-83
ISSN: 0165-1889
In: Journal of development economics, Band 92, Heft 1, S. 13-27
ISSN: 0304-3878
SSRN
Working paper
SSRN
Working paper
In: Journal of labor economics: JOLE, Band 25, Heft 3, S. 553-579
ISSN: 1537-5307
In: Journal of international economics, Band 51, Heft 2, S. 335-362
ISSN: 0022-1996
In: American economic review, Band 89, Heft 3, S. 450-472
ISSN: 1944-7981
This paper presents a dynamic general equilibrium model of R&D-based trade between two structurally identical countries in which both innovation and skill acquisition rates are endogenously determined. Trade liberalization increases R&D investment and the rate of technological change. It also reduces the relative wage of unskilled workers and results in skill upgrading within each industry when R&D is the skilled-labor intensive activity relative to manufacturing of final products. Time-series evidence from the United States and simulation analysis support the empirical relevance of the model, which offers a North–North trade explanation for increasing wage inequality. (JEL F10, F12, F13, D32, D41)
In: Journal of international economics, Band 47, Heft 1, S. 191-222
ISSN: 0022-1996
In: Journal of international economics, Band 42, Heft 3-4, S. 425-452
ISSN: 0022-1996