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Understanding the Gains from Wage Flexibility : The Exchange Rate Connection
Galí, Jordi - 2016
We study the gains from increased wage flexibility using a small open economy model with staggered price and wage setting. Two results stand out: (i) the effectiveness of labor cost reductions as a means to stimulate employment is much smaller in a currency union, (ii) an increase in wage...
Persistent link: https://www.econbiz.de/10012456188
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Contingent Protection as Better Insurance
Fischer, Ronald D. - 1999
We formalize the notion that GATT exceptions such as antidumping and escape clause actions can act as insurance for import competing sectors affected by adverse price shocks. We use a general equilibrium model with several import competing sectors and assume incomplete markets so that agents...
Persistent link: https://www.econbiz.de/10012471874
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Germany's Economic Unification : An Assessment after Ten Years
Sinn, Hans-Werner - 2000
A political miracle occurred when Germany was reunited, and at first glance an economic miracle has followed. Real incomes in the east have now reached the western level, and investment per capita has been much higher than in the west. However, every third deutschmark spent in the east has been...
Persistent link: https://www.econbiz.de/10012471183
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Pros and Cons of Globalization : Income-Based Attitudes
Razin, Asaf - National Bureau of Economic Research - 2022
Which income group is pro-globalization or anti-globalization--the wealthy skilled-labor or the poor low-skilled labor …? How globalization affect income-based attitudes towards globalization? The paper addresses these issues in the framework …
Persistent link: https://www.econbiz.de/10013477205
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Heckscher-Ohlin Theory and Individual Attitudes Towards Globalization
O'Rourke, Kevin - 2003
The aim of the paper is to see whether individuals' attitudes towards globalization are consistent with the predictions …-skilled is associated with more pro-globalization attitudes in rich countries; while in some of the very poorest countries in the … sample being high-skilled has a negative (if statistically insignificant) impact on pro-globalization sentiment. More …
Persistent link: https://www.econbiz.de/10012468825
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Global Supply Chains, Currency Undervaluation, and Firm Protectionist Demands
Jensen, J. Bradford - 2013
We examine firm participation in global supply chains to help explain a puzzling decline in protectionist demands in the U.S. despite increased import competition and ongoing currency undervaluation. To explain firm responses to undervaluation, we rely on advances in the international trade...
Persistent link: https://www.econbiz.de/10012459423
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A Theory of Trade Policy Transitions
Bowen, T. Renee; Broz, J. Lawrence; Rosendorff, B. Peter - National Bureau of Economic Research - 2023
Trade policy is set by domestic political bargaining between globalists and protectionists, representing owners of factors specific to export and import-competing sectors respectively. Consistent with the post-Civil War Era of Restriction, protectionists implement high tariffs when status quo...
Persistent link: https://www.econbiz.de/10014372419
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Growing Up to Stability? Financial Globalization, Financial Development and Financial Crises
Bordo, Michael D. - 2015
Why did some countries learn to grow up to financial stability and others not? We explore this question by surveying the key determinants and major policy responses to banking, currency, and debt crises between 1880 and present. We divide countries into three groups: leaders, learners, and...
Persistent link: https://www.econbiz.de/10012457380
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Time Limits and Welfare Use
Grogger, Jeff - 2000
Time limits are a central component of recent welfare reforms and represent a substantial departure from previous policy. However, several recent studies suggest that they have had no effect on welfare use. In this paper I attempt to reconcile those findings with results from Grogger and...
Persistent link: https://www.econbiz.de/10012471052
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What has Welfare Reform Accomplished? Impacts on Welfare Participation, Employment, Income, Poverty, and Family Structure
Schoeni, Robert F. - 2000
This paper evaluates the effectiveness of recent welfare reforms, investigating the effects of both state-specific waivers in the early 1990s and the 1996 federal reform legislation. Unlike earlier work, we analyze a wide array of indicators, including welfare participation, labor market...
Persistent link: https://www.econbiz.de/10012471144