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Technology, Unemployment, and Inflation
Mincer, Jacob - 2000
We explore the response of employment (unemployment) skill differentials to skill-biased shifts in demand touched off … by the new and spreading technologies. We find that skill differentials in unemployment follow at least in part the same … differences defined by technology. In the aggregate time series relative unemployment is defined by educational unemployment …
Persistent link: https://www.econbiz.de/10012470933
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Changes in Unemployment and Wage Inequality : An Alternative Theory and Some Evidence
Acemoglu, Daron - 1998
unemployment rates for both groups. The paper provides some evidence that there has been a change in the composition of jobs in the …
Persistent link: https://www.econbiz.de/10012472153
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Trade Induced Structural Change and the Skill Premium
Cravino, Javier - 2017
We study how international trade affects manufacturing employment and the relative wage of unskilled workers when goods and services are traded with different intensities. Manufacturing trade reduces manufacturing prices worldwide, which reduces manufacturing employment if manufactures and...
Persistent link: https://www.econbiz.de/10012455178
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The Business Cycles of Balance-of-Payment Crises : A Revision of Mundellan Framework
Mendoza, Enrique G. - 1999
In his seminal 1960 article Robert Mundell proposed a model of balance-of-payments crises in which confidence in the continuation of a currency peg depended on the observed holdings of central bank foreign reserves. We examine the implications of a reformulation of this view from the perspective...
Persistent link: https://www.econbiz.de/10012471756
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Devaluation Risk and the Syndrome of Exchange-Rate-Based Stabilizations
Mendoza, Enrique G. - 1999
This paper shows that the risk of devaluation can be an important factor accounting for the stylized facts of exchange-rate-based stabilizations. This conclusion follows from studying the quantitative implications of a two-sector equilibrium business cycle model of a small open economy...
Persistent link: https://www.econbiz.de/10012471786
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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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Revisiting the Commodity Curse : A Financial Perspective
Alberola, Enrique - 2017
We study the response of a three-sector commodity-exporter small open economy to a commodity price boom. When the economy has access to international borrowing and lending, a temporary commodity price boom brings about the standard wealth effect that stimulates demand and has long-run...
Persistent link: https://www.econbiz.de/10012455495
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Factor Endowments and the Returns to Skill : New Evidence from the American Past
Kaboski, Joseph - 2007
The existing literature on skill-biased technical change has not considered how the technological endowment itself plays a role in the returns to skill. This paper constructs a simple model of skill biased technical change which highlights the role that resource endowments play in the returns to...
Persistent link: https://www.econbiz.de/10012465057
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Matching and Sorting in a Global Economy
Grossman, Gene M. - 2013
We develop a neoclassical trade model with heterogeneous factors of production. We consider a world with two factors, labor and "managers", each with a distribution of ability levels. Production combines a manager of some type with a group of workers. The output of a unit depends on the types of...
Persistent link: https://www.econbiz.de/10012459150
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Optimal Migration : A World Perspective
Benhabib, Jess - 2007
We ask what level of migration would maximize world welfare. We find that skill-neutral policies are never optimal. An egalitarian welfare function induces a policy that entails moving mainly unskilled immigrants into the rich countries, whereas a welfare function skewed highly towards the rich...
Persistent link: https://www.econbiz.de/10012465785