Economic development is accompanied by structural change. The trade theoretic literature offers two major hypotheses – i. e., the factor-endowment and the total-factor-productivity-- for explaining the stylized facts of structural change. This note revisits these hypotheses. In particular, it...

The rush for land acquisition—primarily driven by food shortage and run for agrofuel—has drawn considerable attention. Some documents published in late 2009, 2010, and 2011 report this phenomenon. Terminological differences aside, it is—quite distinct from materials or service...

The paper attempts to analyze the impact of trade liberalization policy, in terms of FDI, on the level of informal competitive wage rate as well as on the size of the informal sectors of a developing economy with dualistic economic structure in a general equilibrium framework. The wage rate...

In this paper we attempt to model virtual trade resulting from time zone differences in an otherwise Heckscher-Ohlin set up which is absent in the literature. So, this paper tries to add some value to the existing stuff on the trade theory and the role of time zones. In doing so, it has been...

The recent Brexit episode is being interpreted in some quarters as an anti-globalisation backlash. Free trade does not promise gains for all without a proper compensating mechanism that allows winners to bribe the losers. Also standard prediction of trade theory does point towards increasing...

The recent Brexit episode is being interpreted in some quarters as an anti-globalisation backlash. Free trade does not promise gains for all without a proper compensating mechanism that allows winners to bribe the losers. Also standard prediction of trade theory does point towards increasing...

The recent Brexit episode is being interpreted in some quarters as an anti-globalisation backlash. Free trade does not promise gains for all without a proper compensating mechanism that allows winners to bribe the losers. Also standard prediction of trade theory does point towards increasing...

This paper compares the evolution of wage inequality along three different skill groups (low-, middle- and high-skilled) across five industrialized countries (Finland, Germany, Italy, Korea and the US). Despite similar exposure to technological change, the countries exhibit significant...

At the heart of the Skill Biased Technical Change literature is a discussion of the temporal impact of technological change on wages. The narrative describes technological change as allowing for the increased codification of routine tasks which enables capital to become more easily substituted...

Existing empirical analyses of Skill Biased Technical Change focus on examining repeated cross-sections of individuals holding occupational task measures fixed. That approach cannot explore how wages respond to temporal variation in task orientation. This analysis examines wage effects using a...