| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP8999
|
| DP8999 Skill Premium and Trade Puzzles: A Solution Linking Production and Preferences |
| James Markusen; Thibault Fally
|
| 发表日期 | 2012-06-03
|
| 出版年 | 2012
|
| 语种 | 英语
|
| 摘要 | International trade theory is a general-equilibrium discipline, yet most of the standard portfolio of research focuses on the production side of general equilibrium. In addition, we do not have a good understanding of the relationship between characteristics of goods in production and characteristics of preferences. This paper conducts an empirical investigation into the relationship between a good's factor intensity in production and its income elasticity of demand in consumption. In particular, we find a strong and significant positive relationship between skilled-labor intensity in production and income elasticity of demand for several types of preferences, with and without accounting for trade costs and differences in prices. Counter-factual simulations yield a number of results. We can explain about half of ?missing trade?, and show an important role for per-capita income in understanding trade/GDP ratios, the choice of trading partners, and the composition of trade. Furthermore, an equal rise in productivity in all sectors in all countries leads to a rising skill premium in all countries, with particularly large increases in developing countries. |
| 主题 | International Trade and Regional Economics
|
| 关键词 | Gravity
Income
Missing trade
Non-homothetic preferences
Skill premium
|
| URL | https://cepr.org/publications/dp8999
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/537837
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推荐引用方式
GB/T 7714 |
James Markusen,Thibault Fally. DP8999 Skill Premium and Trade Puzzles: A Solution Linking Production and Preferences. 2012.
|
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