Download or read book An International Comparison of Employment Adjustment to Exchange Rate Fluctuations written by Simon M. Burgess and published by . This book was released on 1996 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper evaluates the response of employment to exchange rate shocks at the industry level for the G-7 countries. Using a simple empirical framework that places little a priori structure on the pattern of response to shocks, we find the data are consistent with the view that employment in European industries, at least France and Germany, is much less influenced by exchange rate shocks and much slower to adjust to long run steady states. The United States, Japan, Canada, the United Kingdom and Italy all appear to adjust more quickly. German and Japanese employment are quite insensitive to exchange rate fluctuations, consistent with previous research on output and markup responses to exchange rates.
Download or read book An International Comparison of Employment Adjustment to Exchange Rate Fluctuations written by Simon M. Burgess and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper evaluates the response of employment to exchange rate shocks at the industry level for G-7 countries. Using an empirical framework that places little structure on the data, we find that European industries, at least France and Germany, are much less influenced by exchange rate shocks and much slower to adjust to long run steady states. The United States, Japan, Canada, the United Kingdom and Italy all appear to adjust more quickly. German and Japanese employment are quite insensitive to exchange rate fluctuations, consistent with previous research on output and markup responses to exchange rates.
Download or read book Employment Versus Wage Adjustment and the U S Dollar written by José Campa and published by . This book was released on 1998 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Using two decades of annual data, we explore the links between real exchange rates and employment, wages, and overtime activity in specific U.S. manufacturing industries. Across two-digit industry levels of aggregation, exchange rate movements do not have large effects on numbers of jobs or on hours worked. More substantial effects are picked up in industry wages, especially for industries characterized by low price-over-cost markup ratios, and in overtime wages and overtime employment. The industry-by-industry pattern of wage responsiveness is not strongly related to industry export orientation or changes in overall external orientation. Industries with low price-over-cost markups and those with a less skilled workforce exhibit relatively larger employment elasticities but lower wage elasticities"--Abstract
Download or read book Structural Change and Labor Market Adjustment written by Robert W. Bednarzik and published by . This book was released on 1988 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Currency Unions Economic Fluctuations and Adjustment written by Mr.Tamim Bayoumi and published by International Monetary Fund. This book was released on 1996-08-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the sources of disturbances to output in the United States and a set of EU countries and analyzes labor market adjustment mechanisms in these two economic areas. Comparable datasets comprising 1-digit sectoral data for eight U.S. regions and eight European countries are constructed and used to compare the degree of industrial diversification and the relative importance of different sources of shocks to output growth. Both areas are found to be subject to similar overall disturbances although a disaggregated perspective reveals some important differences. The major difference, however, is in labor market adjustment. Interregional labor mobility appears to be a much more important adjustment mechanism in the United States, which has a more integrated labor market than the EU.
Download or read book The Impact of International Trade on Wages written by Robert C. Feenstra and published by University of Chicago Press. This book was released on 2008-04-15 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the early 1980s, the U.S. economy has experienced a growing wage differential: high-skilled workers have claimed an increasing share of available income, while low-skilled workers have seen an absolute decline in real wages. How and why this disparity has arisen is a matter of ongoing debate among policymakers and economists. Two competing theories have emerged to explain this phenomenon, one focusing on international trade and labor market globalization as the driving force behind the devaluation of low-skill jobs, and the other focusing on the role of technological change as a catalyst for the escalation of high-skill wages. This collection brings together innovative new ideas and data sources in order to provide more satisfying alternatives to the trade versus technology debate and to assess directly the specific impact of international trade on U.S. wages. This timely volume offers a thorough appraisal of the wage distribution predicament, examining the continued effects of technology and globalization on the labor market.
Download or read book Adjustment and Economic Performance in Industrialised Countries written by Geoffrey Renshaw and published by . This book was released on 1986 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book From Trade Surplus To The Dispute Over The Exchange Rate Quantitative Analysis Of Rmb Appreciation written by Xin Li and published by World Scientific. This book was released on 2016-02-29 with total page 473 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 2005, China has been accused of causing the trade deficit and manipulating the exchange rate. At the same time, there have been arguments against the RMB appreciation. The reason for this conflict is the lack of quantitative research or elaboration on many extremely important indicators.To correctly describe the industrial chain and value-added process around the world, it is necessary to identify data by using new methods and separating the processing trade from the non-processing trade based on the Global Trade Analysis Project (GTAP) data. This book establishes a Global Multi-department Computable General Equilibrium (GMCGE) model based on the continuous global input-output database. It focuses on the Computable General Equilibrium (CGE) model that constructs a consistent interaction mechanism within the economic system and fully reflects the general equilibrium characteristics and thus tries to avoid the limitations of the partial equilibrium model. It shows how the GMCGE framework can distinguish the processing trade from non-processing trade in the input-output data, and at the same time ensure the endogenous equilibrium of the social accounting matrix (SAM) after distinction.
Download or read book Globalization Technological Change and Labor Markets written by Stanley W. Black and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Globalization, Technological Change and Labor Markets is an edited collection of papers drawn from the conference held at the American Institute for Contemporary German Studies in June 1997. This conference brought German and American perspectives to bear on the complex issues of global competition, technological change, and labor markets in the welfare state. The contributions are organized into five sections dealing with various aspects of the problem: (1) Macroeconomic Perspectives; (2) Microeconomic Aspects; (3) the German Model of Labor Relations; (4) the Social Market Economy; and (5) Trade Policy and Environmental and Labor Standards. This edited collection seeks to explore many of the key issues surrounding the debate over the impact of globalization and technological change on labor markets in Europe and the United States. `This volume provides path-breaking insights as to why globalization has wreaked havoc on the welfare states that had once propelled Western Europe and North America to an unprecedented standard of living throughout the post-war period. The high level of scholarship contained in the individual chapters forms a compelling argument that will convince even the most resistant skeptics that the days of the classic welfare state are numbered. More importantly, this book is filled with concrete suggestions based on careful economic analysis as to how technological change and globalization can be harnessed in conjunction with a new role of the state to provide a high standard of living.' David B. Audretsch, Ameritech Chair of Economic Development, Indiana University
Download or read book The Labor Market and Economic Adjustment written by Pierre-Richard Agénor and published by International Monetary Fund. This book was released on 1995-11-01 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the role of the labor market in the transmission process of adjustment policies in developing countries. It begins by reviewing the recent evidence regarding the functioning of these markets. It then studies the implications of wage inertia, nominal contracts, labor market segmentation, and impediments to labor mobility for stabilization policies. The effect of labor market reforms on economic flexibility and the channels through which labor market imperfections alter the effects of structural adjustment measures are discussed next. The last part of the paper identifies a variety of issues that may require further investigation, such as the link between changes in relative wages and the distributional effects of adjustment policies.
Download or read book NBER Macroeconomics Annual 1998 written by Ben Bernanke and published by MIT Press. This book was released on 1999 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: The goals of the annual NBER Macroeconomics Conference are to present, extend, and apply frontier work in macroeconomics and to stimulate work by macroeconomists in policy issues. Each paper in the Annual is followed by comments and discussion.
Download or read book International Financial Issues in the Pacific Rim written by Takatoshi Ito and published by University of Chicago Press. This book was released on 2008-09-15 with total page 441 pages. Available in PDF, EPUB and Kindle. Book excerpt: The imbalanced, yet mutually beneficial, trading relationship between the United States and Asia has long been one of international finance’s most perplexing mysteries. Although the United States continues to post a substantial trade deficit—and China reaps the benefits of a surplus—the dollar has yet to sink in the face of ever-increasing account disparities. International Financial Issues in the Pacific Rim explains why the United States enjoys a seemingly symbiotic relationship with its trading partners despite stark inequities in the trade balance, especially with Asia. This timely and well-informed study also debunks the assumed link between economic openness and low inflation in the region, identifies the serious gap between academic and private-sector researchers’ understanding of exchange rate volatility, and analyzes the liberalization of Asian capital accounts. International Financial Issues in the Pacific Rim will have broad implications for global trade and economic policy issues in Asia and beyond.
Download or read book Exchange Rate Or Wage Changes in International Adjustment Japan and China Versus the United States written by Ronald McKinnon and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Under the world dollar standard, a discrete appreciation by a dollar creditor country of the United States, such as China or Japan, has no predictable effect on its trade surplus. Currency appreciation by the creditor country will slow its economic growth and eventually cause deflation but cannot compensate for a saving investment imbalance in the United States. Under a fixed exchange rate, however, differential adjustment in the rate of growth of money wages will more accurately reflect international differences in productivity growth. International competitiveness will be better balanced between high-growth and low-growth economies, as between Japan and the U.S. from in 1950 to 1971 and China and the U.S. from 1994 to 2005, when the peripheral country's dollar exchange rate is fixed so that its wage growth better reflects its higher productivity growth. The qualified case for China moving toward greater flexibility in the form of a very narrow band for the yuan/dollar exchange rate, as a way of decentralizing foreign exchange transacting, is discussed.
Download or read book Employment and Inclusive Development written by Rizwanul Islam and published by Routledge. This book was released on 2015-02-11 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: Issues relating to employment and labour have once again come to the fore of global policy debates in the wake of the widespread unemployment that has accompanied the current financial crisis. In the developing world, there is a growing realization that productive employment promotion and social protection have to be at the core of inclusive growth and development. This book supports the view that employment is a cross-cutting issue shaped by macroeconomic and microeconomic policy interventions, and provides a capacious framework to analyse the complexity of this global debate. It covers a wide range of issues that have received insufficient attention in the discourse of development and labour economics. These include the impact of macroeconomic policies on employment, labour rights, the development of human capabilities and employability, youth employment, the benefits and costs of labour market flexibility, and the importance of social protection for all. This important book aims at filling this gap by revisiting old debates and reconnecting them to the contemporary context, combining analyses with relevant empirical evidence. It will appeal to a diverse readership of academic institutions and think-tanks, international organizations, bilateral donors working on development issues and policy-makers in developing countries.
Download or read book Making Choices in Health written by World Health Organization and published by World Health Organization. This book was released on 2003 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The Guide, in Part I, begins with a brief description of generalized CEA and how it relates to the two questions raised above. It then considers issues relating to study design, estimating costs, assessing health effects, discounting, uncertainty and sensitivity analysis, and reporting results. Detailed discussions of selected technical issues and applications are provided in a series of background papers, originally published in journals, but included in this book for easy reference in Part II." (from the back cover).
Download or read book Dominant Currency Paradigm A New Model for Small Open Economies written by Camila Casas and published by International Monetary Fund. This book was released on 2017-11-22 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most trade is invoiced in very few currencies. Despite this, the Mundell-Fleming benchmark and its variants focus on pricing in the producer’s currency or in local currency. We model instead a ‘dominant currency paradigm’ for small open economies characterized by three features: pricing in a dominant currency; pricing complementarities, and imported input use in production. Under this paradigm: (a) the terms-of-trade is stable; (b) dominant currency exchange rate pass-through into export and import prices is high regardless of destination or origin of goods; (c) exchange rate pass-through of non-dominant currencies is small; (d) expenditure switching occurs mostly via imports, driven by the dollar exchange rate while exports respond weakly, if at all; (e) strengthening of the dominant currency relative to non-dominant ones can negatively impact global trade; (f) optimal monetary policy targets deviations from the law of one price arising from dominant currency fluctuations, in addition to the inflation and output gap. Using data from Colombia we document strong support for the dominant currency paradigm.
Download or read book Exchange Rate Determination in the Process of International Adjustment Under Conditions of Full Employment written by Francis Joseph Deastlov and published by . This book was released on 1986 with total page 652 pages. Available in PDF, EPUB and Kindle. Book excerpt:
