Showing 1 - 10 of 114
This paper quantifies the effect of the government-controlled appreciation of the Chinese renminbi (RMB) vis-à-vis the USD from 2005 to 2008 on the prices charged by US producers. As the RMB during that time was pegged to a basket of currencies, the empirical strategy must account for the fact...
Persistent link: https://www.econbiz.de/10010535633
We exploit Japan’s 19th century move from autarky to free trade to provide the first test of the general validity of the price formulation of the Heckscher-Ohlin theorem. In this formulation a country’s autarky factor price vector imposes a single refutable prediction on the economy’s...
Persistent link: https://www.econbiz.de/10009320784
We propose a normative assessment of the value of international trade that is rooted in production theory and embeds Ricardo’s 1817 formulation of the gains from trade into a multi-factor general equilibrium framework. Without imposing strong assumptions on consumer rationality or data from...
Persistent link: https://www.econbiz.de/10010555698
Quantitative results from a large class of international trade models depend critically on the elasticity of trade with respect to trade frictions. We develop a simulated method of moments estimator to estimate this elasticity from disaggregate price and trade-flow data using the Ricardian...
Persistent link: https://www.econbiz.de/10008853860
manufacturing productivity and shares of manufacturing in GDP. Our calibrated model replicates these facts and also provides a …-homotheticity. We use the calibrated model to quantitatively ana-lyze the effect of increases in agricultural productivity and a further …
Persistent link: https://www.econbiz.de/10010570050
resuscitate HOV by introducing a simple Hicks-neutral (HN) factor-productivity adjustment, an approach that was heavily criticized …. In this paper, we re-examine the productivity question by estimating factor-specific productivities from the individual …-augmenting technological differences. In particular, the factor-productivity adjustment works well for developed members of the OECD. Further …
Persistent link: https://www.econbiz.de/10005406445
In recent years wages in China have been rising and the yuan has appreciated, potentially eroding China’s cost advantage in manufactures. This paper explores the evolution of China’s relative unit labor costs in manufacturing over 1998-2009. Between 1998 and 2003 China’s unit labor costs...
Persistent link: https://www.econbiz.de/10009323303
We adopt a spatial econometric approach to estimate intra- and inter-industry productivity spillovers in total factor … productivity transmitted through input-output relations in a sample of 13 OECD countries and 15 manufacturing industries. Both R …
Persistent link: https://www.econbiz.de/10005406424
We investigate the link between productivity of firms and their sourcing behavior. Following Antràs & Helpman (2004) we … productivity premia associated with the different sourcing strategies. We find strong empirical support for the predictions of the …
Persistent link: https://www.econbiz.de/10008572568
We introduce unemployment and endogenous selection of workers into different skill-classes in a trade model with two sectors and heterogeneous firms. This allows us to study the distributional consequences and the skill-specific unemployment effects of trade liberalization. We show that the...
Persistent link: https://www.econbiz.de/10005013939