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Subject = Trade and wages;
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Displaying Results 1 - 4 of 4 on page 1 of 1
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Competition, trade and wages
(2009)
Neary, J. Peter
Competition, trade and wages
(2009)
Neary, J. Peter
Abstract:
I briefly review the empirical evidence in the trade and wages debate, which overwhelmingly rejects the Heckscher-Ohlin explanation for recent increases in OECD skill premia. I then argue that the same evidence is also difficult to reconcile in general equilibrium with the view that exogenous skill-biased technological progress is the sole culprit. Finally, I present a model of oligopolistic competition which is more consistent with the evidence. Removing quantitative import constraints (a metaphor for increased foreign competition) encourages both home and foreign firms to invest more aggressively, raising their demand for skilled labour even at unchanged relative wages.
The Economic and Social Research Council (ESRC)
http://hdl.handle.net/10197/1277
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Foreign competition and wage inequality
(2009)
Neary, J. Peter
Foreign competition and wage inequality
(2009)
Neary, J. Peter
Abstract:
I argue that increased foreign competition can affect technical choice and skill differentials even when actual imports do not rise significantly. I present a model of General Oligopolistic Equilibrium ("GOLE") in which a reduction in import barriers (whethe technological or policy-imposed) encourages more strategic investment by incumbent firms. The predictions accord with many of the stylised facts: higher skill premia; higher ratios of skilled to unskilled workers employed in all sectors and throughout the economy; little change in import volumes or prices; and rapid technological progress with rather little change in total factor productivity. (Presidential address to the International Economics and Finance Society, presented at the AEA/ASSA meetings, New Orleans, January 2001.)
The Economic and Social Research Council (ESRC)
http://hdl.handle.net/10197/1270
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Globalisation and market structure
(2009)
Neary, J. Peter
Globalisation and market structure
(2009)
Neary, J. Peter
Abstract:
This paper reviews some puzzling economic aspects of globalisation and argues that they cannot be satisfactorily addressed in perfectly or monopolistically competitive models. Drawing on recent work, a model of oligopoly in general equilibrium is sketched. The model ensures theoretical consistency by assuming that firms are large in their own markets but small in the economy as a whole, and ensures tractability by assuming quadratic preferences defined over a continuum of goods. Applications considered include the effects of trade liberalisation on industrial structure, on cross-border merger waves, and on the distribution of income between skilled and unskilled workers.
http://hdl.handle.net/10197/1306
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Mark
Globalisation and market structure
(2010)
Neary, J. Peter
Globalisation and market structure
(2010)
Neary, J. Peter
http://hdl.handle.net/10197/1859
Displaying Results 1 - 4 of 4 on page 1 of 1
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2010 (1)
2009 (3)
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