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  1. Trade policy as an exogenous shock: focusing on the specifics
    Erschienen: 6-16-2021
    Verlag:  W.E. Upjohn Institute for Employment Research, Kalamazoo, MI

    This paper proposes a novel strategy for identifying the effects of import competition on economic outcomes that avoids standard concerns related to the endogeneity of trade policy and provides a consistent measure of exposure to trade over time.... mehr

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    This paper proposes a novel strategy for identifying the effects of import competition on economic outcomes that avoids standard concerns related to the endogeneity of trade policy and provides a consistent measure of exposure to trade over time. Conditioning on the level of import tariffs, our approach exploits cross-industry differences in the relative importance of specific rather than ad valorem tariffs. As they are expressed in per unit terms rather than as a share of value, the effective protection provided by a given specific tariff varies with price levels. Using digitized tariff line data between 1900 and 1940, we relate inflation-driven changes in trade protection to changes in imports and labor market outcomes in the full count U.S. census. We show that our measure predicts import growth at both the industry and county level. Using our measure as an instrument, we show that import competition reduces labor force participation in traded sectors during this period. Labor market effects are widespread but fall most heavily on those with little experience or fewer outside labor market options: the young, seniors, and those in rural areas.

     

    Export in Literaturverwaltung   RIS-Format
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/246063
    Schriftenreihe: Upjohn Institute working paper ; 21, 349
    Schlagworte: International Trade; Economic History; Trade Policy; Inflation; Labor Markets
    Umfang: 1 Online-Ressource (circa 35 Seiten), Illustrationen
  2. Aggregate and firm-level stock returns during pandemics, in real time
    Erschienen: April 2020
    Verlag:  National Bureau of Economic Research, Cambridge, MA

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    W 1 (26950)
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Druck
    Schriftenreihe: Working paper series / National Bureau of Economic Research ; 26950
    Schlagworte: Epidemie; Coronavirus; Wirkungsanalyse; Börsenkurs; Aktienmarkt; Vergleich; Hongkong; USA
    Umfang: 21 Seiten, Illustrationen
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  3. Using equity market reactions to infer exposure to trade liberalization
    Erschienen: 14 June 2022
    Verlag:  Centre for Economic Policy Research, London

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    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Discussion paper series / Centre for Economic Policy Research ; DP17387$p
    Schlagworte: China shock; event study; PNTR; Abnormal Returns; CUSFTA
    Umfang: 1 Online-Ressource (circa 96 Seiten), Illustrationen
  4. US inequality in the 1980s
    the Tokyo round trade liberalization and the Swiss Formula
    Erschienen: March 2024
    Verlag:  CESifo, Munich, Germany

    Against a backdrop of sharply rising inequality, the Tokyo Round of the GATT resulted in a 1.6 percentage point reduction in average US tariffs – larger than CUS-FTA, NAFTA, and the liberalization accompanying the granting of PNTR to China. We... mehr

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    Against a backdrop of sharply rising inequality, the Tokyo Round of the GATT resulted in a 1.6 percentage point reduction in average US tariffs – larger than CUS-FTA, NAFTA, and the liberalization accompanying the granting of PNTR to China. We construct a novel IV based on the so-called “Swiss formula” that governed Tokyo Round tariff liberalization to provide the first evidence of its effects on imports and inequality. Instrumented tariff reductions explain 17% of the within-industry rise in income inequality between skilled and unskilled workers between 1979 and 1988. This effect is largest in more technology-intensive industries, suggesting a complementarity between trade liberalization and skill-biased technological change. We also show that tariff liberalization in upstream industries produced a shift away from labor more broadly and towards intermediate inputs. Finally, we show that policymakers dampened the observed impact of tariffs on inequality by assigning smaller tariff reductions to industries more reliant on low-skilled labor.

     

    Export in Literaturverwaltung   RIS-Format
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/296072
    Schriftenreihe: CESifo working papers ; 10983 (2024)
    Schlagworte: tariffs; Tokyo Round; Swiss formula; inequality; skill biased technological change
    Umfang: 1 Online-Ressource (circa 45 Seiten), Illustrationen