Trade shocks and labor market adjustment
By: Kim, Ryan and Vogel, Jonathan
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Material type: 
BookPublisher: The American Economic Review: Insights Description: 3(1), Mar, 2021: p.115-130.Subject(s): Trade shocks, Trade, Wage income
In:
The American Economic Review: InsightsSummary: We develop a framework to analyze the impact of trade shocks on a range of labor market adjustment margins in economies with a large number of sectors and labor groups. We provide analytic results characterizing equilibria. We show that labor groups earning a greater share of wage income in sectors with relative price declines experience a relative increase in unemployment and nonparticipation and decrease in wages and welfare. Our framework provides a guide for quantitative and empirical investigations into the labor market impacts of trade shocks. – Reproduced
| Item type | Current location | Call number | Vol info | Status | Date due | Barcode |
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Articles
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Indian Institute of Public Administration | 3(1), Mar, 2021: p.115-130 | Available | AR125240 |
We develop a framework to analyze the impact of trade shocks on a range of labor market adjustment margins in economies with a large number of sectors and labor groups. We provide analytic results characterizing equilibria. We show that labor groups earning a greater share of wage income in sectors with relative price declines experience a relative increase in unemployment and nonparticipation and decrease in wages and welfare. Our framework provides a guide for quantitative and empirical investigations into the labor market impacts of trade shocks. – Reproduced
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