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Helpman, Elhanan; Itskhoki, Oleg; Redding, Stephen - Centre for Economic Performance, LSE - 2010

This paper reviews a new framework for analyzing the interrelationship between inequality, unemployment, labor market …. It implies that the opening of trade may raise inequality and unemployment, but always raises welfare. Unilateral …

Persistent link: https://www.econbiz.de/10009643563

Inequality and Unemployment in a Global Economy

Helpman, Elhanan; Itskhoki, Oleg; Redding, Stephen - Centre for Economic Performance, LSE - 2009

inequality and raises unemployment, but expected welfare gains are ensured if workers are risk neutral. And while wage inequality … inequality. …

Persistent link: https://www.econbiz.de/10005037460

Trade and Inequality: From Theory to Estimation

Helpman, Elhanan; Itskhoki, Oleg; Muendler, Marc-Andreas; … - Centre for Economic Performance, LSE - 2012

While neoclassical theory emphasizes the impact of trade on wage inequality between occupations and sectors, more … linked employer-employee data for Brazil, we show that much of overall wage inequality arises within sector-occupations and …-firm model of trade and inequality from Helpman, Itskhoki, and Redding (2010) and structurally estimate it with Brazilian data …

Persistent link: https://www.econbiz.de/10010543483

Goods Trade, Factor Mobility and Welfare

Redding, Stephen J. - Centre for Economic Performance, LSE - 2012

This paper extends a recent class of quantitative models of international trade to incorporate factor mobility within countries. We present a model-based decomposition of the variance of economic activity into the contributions of locational fundamentals, market access and their covariance. We...

Persistent link: https://www.econbiz.de/10010543482

Theories of Heterogeneous Firms and Trade

Redding, Stephen - Centre for Economic Performance, LSE - 2010

This paper reviews the recent theoretical literature on heterogeneous firms and trade, which emphasizes firm selection into international markets and reallocations of resources across firms. We discuss the empirical challenges that motivated this research and its relationship to traditional...

Persistent link: https://www.econbiz.de/10008646243

Comparative Advantage and Heterogeneous Firms

Bernard, Andrew B.; Redding, Stephen; Schott, Peter K. - Centre for Economic Performance, LSE - 2004

This paper presents a model of international trade that features heterogeneous firms, relativeendowment differences across countries, and consumer taste for variety. The paper demonstrates thatfirm reactions to trade liberalization generate endogenous Ricardian productivity responses at...

Persistent link: https://www.econbiz.de/10005151018

Labor and the Market Value of the Firm

Merz, Monika; Yashiv, Eran - Centre for Economic Performance, LSE - 2005

What role does labor play in a firm's market value? We explore this question using a production-based asset pricing model with frictions in the adjustment of both capital and labor. We posit that hiring of labor is akin to investment in capital and that the two interact, with the interaction...

Persistent link: https://www.econbiz.de/10005151028

Institutions and Export Dynamics

Araujo, Luis; Mion, Giordano; Ornelas, Emanuel - Centre for Economic Performance, LSE - 2012

We study the role of contract enforcement in shaping the dynamics of international trade at the firm level. We develop a theoretical model to describe how agents build reputations to overcome the problems created by weak enforcement of international contracts. We find that, all else equal,...

Persistent link: https://www.econbiz.de/10009421728

Evolution of Locations, Specialisation and Factor Returns with Two Distinct Waves of Globalisation

Thia, Jang Ping - Centre for Economic Performance, LSE - 2008

more inequality. Within and between nations inequality can result. …

Persistent link: https://www.econbiz.de/10005797244

Multi-Product Firms and Trade Liberalization

Bernard, Andrew B.; Redding, Stephen; Schott, Peter K. - Centre for Economic Performance, LSE - 2006

This paper develops a general equilibrium model of multi-product firms and analyzes their behavior during trade liberalization. Firm productivity in a given product is modeled as a combination of firm-level "ability" and firmproduct- level "expertise", both of which are stochastic and unknown...

Persistent link: https://www.econbiz.de/10005797238