This econometric analysis investigates the impact of changes in sectoral valueadded prices and total factor productivity (TFP) on the equilibrium relative wage of low-skilled workers in eleven high-income countries. The key finding is that TFP growth mandated an increase in the unskilled wage,...

The paper discusses the pros and cons of a Transatlantic free trade area (TAFTA) against the concept of an informal trade-facilitating marketplace between Europe and the US. It finds considerably more cons expecially since TAFTA would be expected to have ever more discriminatory effects to the...

The paper applies an index suggested by Jeffrey Frankel on how to measure the gap between the intensity of national versus international transactions of a country to more than 100 countries over four periods between 1990 and 2005. The gap stands for "incomplete" globalization. It is shown that...

The paper measures income elasticities of demand for manufacturing imports in China since 1990 disaggregated by major trading partners such as the US, Japan, Germany and rest of the EU. German exporters seem to have benefited from the hightest demand elasticities. The paper proposes explanatory...