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Globalization, Trade Imbalances and Inequality / Rafael Dix-Carneiro, Sharon Traiberman.
- Format:
- Book
- Author/Creator:
- Dix-Carneiro, Rafael.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w30188.
- NBER working paper series no. w30188
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2022.
- Summary:
- We investigate the role of trade imbalances for the distributional consequences of globalization. We do so through the lens of a quantitative, general equilibrium, multi-country, multi-sector model of trade with four key ingredients: (a) workers with different levels of skills are organized into separate representative households; (b) endogenous trade imbalances arise from households' consumption and saving decisions; (c) production exhibits capital-skill complementarity; (d) labor market frictions across sectors and non-employment. We conduct a series of counterfactual experiments that illustrate the quantitative importance of both trade imbalances and capital-skill complementarity for the dynamics of the skill premium. We show that modelling trade imbalances can lead to stark differences between short- and long-run consequences of globalization shocks for the skill premium.
- Notes:
- Print version record
- June 2022.
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