| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7430 |
| DP7430 A World Factory in Global Production Chains: Estimating Imported Value Added in Chinese Exports | |
| Robert Koopman; Shang-Jin Wei; Zhi Wang | |
| 发表日期 | 2009-09-06 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | We analyze a Bewley-Huggett-Aiyagari incomplete-markets model with labor-market frictions. Consumers are subject to idiosyncratic employment shocks against which they cannot insure directly. The labor market has a Diamond-Mortensen-Pissarides structure: firms enter by posting vacancies and match with workers bilaterally, with match probabilities given by an aggregate matching function. Wages are determined through Nash bargaining. We also consider aggregate productivity shocks, and a complete set of contingent claims conditional on this risk. We use the model to evaluate a tax-financed unemployment insurance scheme. Higher insurance is beneficial for consumption smoothing, but because it raises workers? outside option value, it discourages firm entry. We find that the latter effect is more potent for welfare outcomes; we tabulate the effects quantitatively for different kinds of consumers. We also demonstrate that productivity changes in the model - in steady state as well as stochastic ones - generate rather limited unemployment effects, unless workers are close to indifferent between working and not working; thus, recent findings are corroborated in our more general setting. |
| 主题 | International Macroeconomics ; Labour Economics |
| 关键词 | Incomplete markets Matching Heterogenous agents |
| URL | https://cepr.org/publications/dp7430 |
| 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/536274 |
| 推荐引用方式 GB/T 7714 | Robert Koopman,Shang-Jin Wei,Zhi Wang. DP7430 A World Factory in Global Production Chains: Estimating Imported Value Added in Chinese Exports. 2009. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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