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fact been bell-shaped. We argue that this bell-shaped evolution of wage inequality can be linked to globalization and a … rise in offshoring. To analyze the relationship between globalization, offshoring and relative wages, we develop a general … equilibrium model of trade and offshoring. This reveals that globalization and offshoring have two opposing effects on relative …
Persistent link: https://www.econbiz.de/10005123637
The nation-state system, democratic politics, and full economic integration are mutually incompatible. Of the three, at most two can be had together. The Bretton Woods/GATT regime was successful because its architects subjugated international economic integration to the needs and demands of...
Persistent link: https://www.econbiz.de/10005136608
While the impact of globalization on income inequality has received a lot of attention,little is known about its effect …
Persistent link: https://www.econbiz.de/10011196036
optimal. An intermediate outcome, a world divided into diverse polities, is the best that we can do. …
Persistent link: https://www.econbiz.de/10011084069
The new conventional wisdom on globalization emphasizes that reaping the benefits of trade and financial integration is … continue to pose an important constraint on the world economy. In reality, lack of openness is no longer the binding constraint … alike. An alternative approach to globalization would focus on enhancing policy space rather than market access, and on …
Persistent link: https://www.econbiz.de/10005666608
This Paper analyses industrial policy in a high wage open economy hosting an agglomeration consisting of vertically linked upstream and downstream firms. We show that optimal policy towards upstream industries typically differ from the optimal policy towards downstream industries....
Persistent link: https://www.econbiz.de/10005661682