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We show that in a fully integrated economy, in which there is free mobility of goods and factors, each member’s share of total output will equal its shares of total stocks of productive factors (i.e., physical and human capital). We label this result the equal-share relationship. This...
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The paper builds an argument that international trade can be one explanation behind polarization of employment in the … workforce. The effects off-shoring on wages and job composition are also studied. That of low-skill and high-skill tasks, not … ; hollowing out ; skill biased technical change ; terms of trade ; off-shoring …
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The paper builds an argument that international trade can be an explanation behind polarization of employment in the … shares of high-skill as well as low-skill workers in the total workforce. The effects of off-shoring on wages and job … composition are also studied. Off-shoring of low-skill and high-skill tasks, not middle-skill tasks, is shown to contribute …
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