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The Wage-Productivity Hypothesis : Its Economic Consequences and Policy Implications

Stiglitz, Joseph E. - 1986

the wages they receive. In particular, we show that this hypothesis may explain the high urban wages and unemployment … control urbaxv'rural migration, but could control wages and urban employment, it would, in general, set wages and employment … into accounce, both In the determination of shadow wages to be used in cost benefit analysis and In the analysisis of the …

Persistent link: https://www.econbiz.de/10012477096

Outsourcing in a Global Economy

Grossman, Gene M. - 2002

We study the determinants of the location of sub-contracted activity in a general equilibrium model of outsourcing and trade. We model outsourcing as an activity that requires search for a partner and relationship-specific investments that are governed by incomplete contracts. The extent of...

Persistent link: https://www.econbiz.de/10012469987

On the Almost Neutrality of Inflation : Notes on Taxation and the Welfare Costs of Inflation

Stiglitz, Joseph E. - 1980

In this paper I attempt to clarify the nature of the losses associated with inflation within a conventional model of a competitive economy. I shall argue that were inflation fully anticipated, it would be "almost neutral" provided (a) that the tax system were fully indexed and (b) that interest...

Persistent link: https://www.econbiz.de/10012478637

Measuring the Gains from Trade under Monopolistic Competition

Feenstra, Robert C. - 2009

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...

Persistent link: https://www.econbiz.de/10012463056

Income Distribution, Product Quality, and International Trade

Fajgelbaum, Pablo D. - 2009

We develop a framework for studying trade in vertically and horizontally differentiated products. In our model, consumers with heterogeneous incomes and tastes purchase a homogeneous good as well as making a discrete choice of quality and variety of a differentiated product. The distribution of...

Persistent link: https://www.econbiz.de/10012463321

Measuring the Welfare Effect of Quality Change : Theory and Application of Japanese Autos

Feenstra, Robert C. - 1993

The purpose of this paper is to identify conditions under which hedonic price indexes provide an exact measure of consumer welfare, so that the welfare effects of quality change can be inferred. Our results are quite positive in providing a rational for existing practices, though the conditions...

Persistent link: https://www.econbiz.de/10012474550

Growth and Welfare in A Small Open Economy

Grossman, Gene M. - 1989

We construct a model of growth based on endogenous technological change in a small, open economy. Entrepreneurs develop new intermediate products whenever the present value of potential profits exceeds the cost of R&D. Diversity of intermediates contributes to total factor productivity in the...

Persistent link: https://www.econbiz.de/10012476078

Tariff Reductions, Entry, and Welfare : Theory and Evidence for the Last Two Decades

Caliendo, Lorenzo - 2015

In a standard multi-sector, heterogeneous-firm trade model the effect of tariffs on entry, especially in the presence of production linkages, can reverse the traditional positive optimal-tariff argument. We construct and employ a new, large, disaggregated tariff dataset and then apply a...

Persistent link: https://www.econbiz.de/10012456903

The impact of international trade on wages

Feenstra, Robert C. (ed.) - 2000

an increasing share of available income, while low-skilled workers have seen an absolute decline in real wages. How and … escalation of high-skill wages. This collection brings together innovative new ideas and data sources in order to provide more … on U.S. wages. This timely volume offers a thorough appraisal of the wage distribution predicament, examining the …

Persistent link: https://www.econbiz.de/10001433753

Dynamics of Markups, Concentration and Product Span

Helpman, Elhanan - 2020

We develop a model with a finite number of multi-product firms that populate an industry together with a continuum of single product firms, and study the dynamics of this industry that arises from investments in the invention of new products. Consistent with the available evidence, the model...

Persistent link: https://www.econbiz.de/10012481584

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