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Global Business Cycles : Convergence or Decoupling?
Kose, M. Ayhan; Otrok, Chris; Prasad, Eswar S. - 2021
globalization (1985-2005), there has been some convergence of business cycle fluctuations among the group of industrial economies …
Persistent link: https://www.econbiz.de/10013218837
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Globalization, Structural Change and Productivity Growth
McMillan, Margaret - 2011
Large gaps in labor productivity between the traditional and modern parts of the economy are a fundamental reality of developing societies. In this paper, we document these gaps, and emphasize that labor flows from low-productivity activities to high-productivity activities are a key driver of...
Persistent link: https://www.econbiz.de/10013123689
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Why are American Workers Getting Poorer? China, Trade and Offshoring
Ebenstein, Avraham - 2015
We suggest that the impact of globalization on wages has been missed because its effects must be captured by analyzing … occupational exposure to globalization. In this paper, we extend our previous work to include recent years (2003-2008), a period of … effects of globalization, with offshoring to low wage countries and imports both associated with wage declines for US workers …
Persistent link: https://www.econbiz.de/10013026297
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The Food Problem and the Aggregate Productivity Consequences of Climate Change
Nath, Ishan - 2022
This paper integrates local temperature treatment effects and a quantitative macroeconomic model to evaluate the impact of climate change on sectoral reallocation and aggregate productivity. First, I use firm-level data from a wide range of countries to estimate the effect of temperature on...
Persistent link: https://www.econbiz.de/10013307376
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Is Automation Labor-Displacing? Productivity Growth, Employment, and the Labor Share
Autor, David H. - 2018
Many technological innovations replace workers with machines, but this capital-labor substitution need not reduce aggregate labor demand because it simultaneously induces four countervailing responses: own-industry output effects; cross-industry input–output effects; between-industry shifts;...
Persistent link: https://www.econbiz.de/10012913781
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Measures of Participation in Global Value Chains and Global Business Cycles
Wang, Zhi - 2017
This paper makes two methodological contributions. First, it proposes a framework to decompose total production activities at the country, sector, or country-sector level, to different types, depending on whether they are for pure domestic demand, traditional international trade, simple GVC...
Persistent link: https://www.econbiz.de/10012960797
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International Comovement in the Global Production Network
Huo, Zhen - 2019
This paper provides a general and unified framework to study the role of production networks in international GDP comovement. We first derive an additive decomposition of bilateral GDP comovement into components capturing shock transmission and shock correlation. We quantify this decomposition...
Persistent link: https://www.econbiz.de/10012867903
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Financial Globalization and Real Regionalization
Heathcote, Jonathan; Perri, Fabrizio - 2021
countries rose from 4 to 23 percent of the U.S. capital stock (financial globalization). We document that the correlation of …
Persistent link: https://www.econbiz.de/10013313636
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Globalization, the Business Cycle, and Macroeconomic Monitoring
Aruoba, S. Borağan; Diebold, Francis X.; Kose, M. Ayhan; … - 2021
We propose and implement a framework for characterizing and monitoring the global business cycle. Our framework utilizes high-frequency data, allows us to account for a potentially large amount of missing observations, and is designed to facilitate the updating of global activity estimates as...
Persistent link: https://www.econbiz.de/10013311933
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Globalization and Emerging Markets : With or Without Crash?
Martin, Philippe; Rey, Hélène - 2021
income in the emerging market and in the industrialized country. Whereas trade globalization always has a positive effect on … the emerging market, financial globalization may not, especially when trade costs are high. For intermediate levels of …
Persistent link: https://www.econbiz.de/10013218441