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Persistent link: https://www.econbiz.de/10003344910
The Great Recession, which was preceded by the financial crisis, resulted in higher unemployment and inequality. We propose a simple model where firms producing varieties face labor-market frictions and credit constraints. In the model, tighter credit leads to lower output, lower number of...
Persistent link: https://www.econbiz.de/10011539874
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Persistent link: https://www.econbiz.de/10009515234
We present a model which considers both regulatory burden of offshoring barriers and possible terms of trade gains from such barriers. Non-tariff barriers are shown to be unambiguously welfare-reducing, and tariff barriers raise welfare only when associated terms-of-trade gains exceed resulting...
Persistent link: https://www.econbiz.de/10011782962