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Author: Pablo D. Fajgelbaum Publisher: ISBN: Category : Economics Languages : en Pages : 47
Book Description
Individuals that consume different baskets of goods are differentially affected by relative price changes caused by international trade. We develop a methodology to measure the unequal gains from trade across consumers within countries that is applicable across countries and time. The approach uses data on aggregate expenditures across goods with different income elasticities and parameters estimated from a non-homothetic gravity equation. We find considerable variation in the pro-poor bias of trade depending on the income elasticity of each country's exports and imports. Non-homotheticities across sectors imply that trade typically favors the poor, who concentrate spending in more traded sectors.
Author: Pablo D. Fajgelbaum Publisher: ISBN: Category : Economics Languages : en Pages : 47
Book Description
Individuals that consume different baskets of goods are differentially affected by relative price changes caused by international trade. We develop a methodology to measure the unequal gains from trade across consumers within countries that is applicable across countries and time. The approach uses data on aggregate expenditures across goods with different income elasticities and parameters estimated from a non-homothetic gravity equation. We find considerable variation in the pro-poor bias of trade depending on the income elasticity of each country's exports and imports. Non-homotheticities across sectors imply that trade typically favors the poor, who concentrate spending in more traded sectors.
Author: Diego A. Cerdeiro Publisher: International Monetary Fund ISBN: 1484328507 Category : Business & Economics Languages : en Pages : 36
Book Description
In the cross section of countries, there is a strong positive correlation between trade and income, and a negative relationship between trade and inequality. Does this reflect a causal relationship? We adopt the Frankel and Romer (1999) identification strategy, and exploit countries' exogenous geographic characteristics to estimate the causal effect of trade on income and inequality. Our cross-country estimates for trade's impact on real income are consistently positive and significant over time. At the same time, we do not find any statistical evidence that more trade increases aggregate measures of income inequality. Heeding previous concerns in the literature (e.g. Rodriguez and Rodrik, 2001; Rodrik, Subramanian and Trebbi, 2004), we carefully analyze the validity of our geography-based instrument, and confirm that the IV estimates for the impact of trade are not driven by other direct or indirect effects of geography through non-trade channels.
Author: Peter H. Lindert Publisher: Princeton University Press ISBN: 0691178275 Category : Business & Economics Languages : en Pages : 420
Book Description
A book that rewrites the history of American prosperity and inequality Unequal Gains offers a radically new understanding of the economic evolution of the United States, providing a complete picture of the uneven progress of America from colonial times to today. While other economic historians base their accounts on American wealth, Peter Lindert and Jeffrey Williamson focus instead on income—and the result is a bold reassessment of the American economic experience. America has been exceptional in its rising inequality after an egalitarian start, but not in its long-run growth. America had already achieved world income leadership by 1700, not just in the twentieth century as is commonly thought. Long before independence, American colonists enjoyed higher living standards than Britain—and America's income advantage today is no greater than it was three hundred years ago. But that advantage was lost during the Revolution, lost again during the Civil War, and lost a third time during the Great Depression, though it was regained after each crisis. In addition, Lindert and Williamson show how income inequality among Americans rose steeply in two great waves—from 1774 to 1860 and from the 1970s to today—rising more than in any other wealthy nation in the world. Unequal Gains also demonstrates how the widening income gaps have always touched every social group, from the richest to the poorest. The book sheds critical light on the forces that shaped American income history, and situates that history in a broad global context. Economic writing at its most stimulating, Unequal Gains provides a vitally needed perspective on who has benefited most from American growth, and why.
Author: Robert C. Feenstra Publisher: ISBN: Category : International trade Languages : en Pages : 37
Book Description
Three sources of gains from trade under monopolistic competition are: (i) new import varieties available to consumers; (ii) enhanced efficiency as more productive firms begin exporting and less productive firms exit; (iii) reduced markups charged by firms due to import competition. The first source of gains can be measured as new goods in a CES utility function for consumers. We argue that the second source is formally analogous to the producer gain from new goods, with a constant-elasticity transformation curve for the economy. We suggest that the third source of gain can be measured using a translog expenditure function for consumers, which in contrast to the CES case, allows for finite reservation prices for new goods and endogenous markups.
Author: Erhan Artuc Publisher: Springer Nature ISBN: 3030930602 Category : Business & Economics Languages : en Pages : 158
Book Description
This volume examines the relationship between trade liberalization policies and income inequality in developing countries. Using survey data for 54 developing countries, the book explores the potential trade-off between the gains from trade and the distribution of those gains and provides a quantification of the inequality-adjusted welfare gains from trade. The book begins with an introduction to the model and its methodology. Chapter 2 sets up the model and derives the formulas for the welfare effects of trade policy. Chapter 3 uses the tariff data and the survey data to estimate those welfare effects in 54 countries. Chapter 4 discusses the gains from trade and their distribution. Chapter 5 evaluates and quantifies the trade-off between income gains and inequality costs of trade. Chapter 6 presents robustness tests and results from alternative models of the impacts of trade. The last chapter reviews the Household Impacts of Trade database and dashboard, which provides data for replication and a platform that allows researchers to simulate agricultural tariff policy shocks. Providing a comprehensive empirical analysis of the effects of trade policy on inequality in developing countries, this volume will be of interest to researchers and students of economic inequality, development, and international trade as well as policymakers interested in the inequality and poverty consequences of trade policy.
Author: Ann Harrison Publisher: University of Chicago Press ISBN: 0226318001 Category : Business & Economics Languages : en Pages : 674
Book Description
Over the past two decades, the percentage of the world’s population living on less than a dollar a day has been cut in half. How much of that improvement is because of—or in spite of—globalization? While anti-globalization activists mount loud critiques and the media report breathlessly on globalization’s perils and promises, economists have largely remained silent, in part because of an entrenched institutional divide between those who study poverty and those who study trade and finance. Globalization and Poverty bridges that gap, bringing together experts on both international trade and poverty to provide a detailed view of the effects of globalization on the poor in developing nations, answering such questions as: Do lower import tariffs improve the lives of the poor? Has increased financial integration led to more or less poverty? How have the poor fared during various currency crises? Does food aid hurt or help the poor? Poverty, the contributors show here, has been used as a popular and convenient catchphrase by parties on both sides of the globalization debate to further their respective arguments. Globalization and Poverty provides the more nuanced understanding necessary to move that debate beyond the slogans.
Author: Robert M. Stern Publisher: World Scientific ISBN: 9814340375 Category : Business & Economics Languages : en Pages : 716
Book Description
Alan Deardorff was 65 years old on June 6, 2009. To celebrate this occasion, a Festschrift in his honor was held on October 2OCo3, 2009, in the Rackham Amphitheater at the University of Michigan in Ann Arbor. The Festschrift was entitled OC Comparative Advantage, Economic Growth, and the Gains from Trade and Globalization: A Festschrift in Honor of Alan V Deardorff.OCO It was co-organized by two of Professor Deardorff''s former students, Drusilla Brown of Tufts University and Robert Staiger of Stanford University, together with Robert Stern representing the University of Michigan. The first day of the Festschrift involved a series of panels in which invited participants reflected on Professor Deardorff''s contributions, including his writings on: comparative advantage; trade and growth; the gains from trade and globalization; and computational modeling and trade policy analysis. The panel participants prepared written comments, setting out their evaluation of Professor Deardorff''s contributions combined with their own thoughts on the current state of knowledge and analysis of the particular topic. At the end of the first day, Paul Krugman of Princeton University and The New York Times delivered a Citigroup Foundation Special Lecture entitled OC Reflections on Globalization: Yesteryear and Today.OCO All of these papers and Krugman''s lecture are contained in the volume."
Author: Pablo D. Fajgelbaum
Author: Pablo D. Fajgelbaum
Author: Dorothee Hillrichs
Author: Diego A. Cerdeiro
Author: Peter H. Lindert
Author: Robert C. Feenstra
Author: Erhan Artuc
Author: Romain Wacziarg
Author: Ann Harrison
Author: Robert M. Stern
Author: Guido Gustavo Porto