全球智库信息集成服务系统(G2TT): DP6845 Wage Policies of a Russian Firm and the Financial Crisis of 1998: Evidence from Personnel Data

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP6845
	DP6845 Wage Policies of a Russian Firm and the Financial Crisis of 1998: Evidence from Personnel Data - 1997 to 2002
	Mark Schaffer; Hartmut Lehmann; Thomas J Dohmen
发表日期	2008-05-30
出版年	2008
语种	英语
摘要	When labor abundant nations grow, their exports increase more in labor intensive than in capital intensive sectors. We utilize this difference in how exports are affected by growth to identify the causal effect of trade with low-income countries (LICs) on U.S. industry. Our framework relates differences in sectoral inflation rates to differences in comparative advantage-induced import growth rates and abstracts from aggregate fluctuations and sector specific trends. In a panel covering 325 six-digit NAICS manufacturing industries from 1997 to 2006, we find that LIC exports are associated with strong downward pressure on U.S. producer prices and a large effect on productivity. When LIC exporters capture 1% U.S. market share producer prices decrease by 3%, which is nearly fully accounted by a 2.4% increase in productivity and a 0.3% decrease in markups. We also document that while LICs on average find it easier to penetrate sectors with elastic demand, the price and productivity response to import competition is much stronger in industries with inelastic demand. Overall, between 1997 and 2006, the effect of LIC trade on manufacturing PPI inflation was around two percentage points per year, far too large to be neglected in macroeconomic analysis.
主题	International Macroeconomics
关键词	Comparative advantage Globalization Low-wage country import competition
URL	https://cepr.org/publications/dp6845
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/535681
推荐引用方式 GB/T 7714	Mark Schaffer,Hartmut Lehmann,Thomas J Dohmen. DP6845 Wage Policies of a Russian Firm and the Financial Crisis of 1998: Evidence from Personnel Data - 1997 to 2002. 2008.