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INTRA-INDUSTRY TRADE, ENCOGENOUS TECHNOLOGICAL CHANGE, WAGE INEQUALITY AND WELFARE
DE SANTIS, ROBERTO A. 한국국제경제학회 2002 International Economic Journal Vol.16 No.3
By using alternative intra-industry trade models (1. New goods cannot be introduced into the economy; 2. The possibility for a set of capital goods available in the economy to vary; the models consider the existence of intersectoral linkages), I show by means of Applied General Equilibrium (AGE) analysis that trade rises wage inequality between skilled and unskilled workers; but the impact on wage inequality is far larger, when countries are assumed to exchange differentiated capital goods. The latter result has been obtained by using an imperfect competitive model, which embodies a sector bias technological change that arises from trade. In addition, the gains from trade, insignificant under the standard trade hypotheses, are extraordinarily large when endogenous technological change is taken into account. The main policy conclusion is that if policy makers of flexible wage economies introduce trade barriers to reduce wage inequality, these protective measures, by affecting the diffusion of technology, would cause a large welfare loss. [D58, F12, F43, J3, O3]
( Roberto A. De Santis ),( Frank Stahler ) 세종대학교 경제통합연구소 (구 세종대학교 국제경제연구소) 2005 Journal of Economic Integration Vol.20 No.2
By employing a model with international trade costs and imperfect competition, in which a domestic firm serves both the domestic market and the foreign market, we show that intraindustry trade compared to intersectoral trade is globally, but not mutually, welfare improving. When also foreign firms become active, competition strengthens but domestic welfare declines, because domestic consumers have to bear trade costs.
( Roberto A. De Santis ) 세종대학교 경제통합연구소 (구 세종대학교 국제경제연구소) 2002 Journal of Economic Integration Vol.17 No.2
This paper corrects a shortcoming in the literature on computable general equilibrium models and imperfect competition with free entry and increasing returns to scale. The trade integration simulations applied to the US suggest that the shortcoming is quantitatively insignificant if key conditions are fulfilled. The model also shows how to incorporate iceberg trade costs in both constant and increasing returns to scale sectors. A fall in trade costs can have a large impact on welfare as less resources are wasted. In addition, the same model is proposed for competition policy experiments against illegal collaboration among competitors. The results of the simulations provide interesting insights, showing extraordinarily large welfare gains if competition policies are introduced to break the collusive behaviour in the US market among either domestic firms or foreign firms. However, if these policies are brought in to weaken the collusive behaviour among exporting firms, then a welfare loss can be generated because of a large deterioration of terms of trade.
De Santis, Roberto A. 세종대학교 국제경제연구소 2000 Journal of Economic Integration Vol.15 No.2
The economic implications and the income distribution effects of the customs union(CU) between Turkey and the European Union(EU) have been studied by applying a general equilibrium model to the Turkish economy under alternative hypotheses for the labour market. The numerical results show that, regardless of the assumptions postulated for the labour market, manufacturing production and trade, in particular textiles, wearing apparel, leather and fur products, grow despite the protection loss; and the standard VAT rate has to increase to 21-22% for the trade policy to be revenue neutral. The CU is potentially Pareto superior. Urban(rural)groups are better(worse) off in the wage curve scenario, where wages and unemployment are negatively related; while urban(rural) groups are worse(better) off in the scenario with fixed or flexed or flexible real wages. Also the impact on income inequality is ambiguous, rising(declining) in the wage curve(fixed and flexible real wage) scenario. This latter result is partly driven by the large impact on income inequality between urban and rural groups. However, despite the relatively large fall in tariffs, the impact on overall income inequality is small. Regarding the impact on employment, the model predicts the creation of 68,000 new jobs in the wage curve scenario, and the loss of almost 100,000 jobs in the scenario with fixed real wages.
De Santis, Roberto A. 세종대학교 국제경제연구소 2002 Journal of Economic Integration Vol.17 No.2
This paper corrects a shortcoming in the literature on computable general equilibrium models and imperfect competition with free entry and increasing returns to scale. The trade integration simulations applied to the US suggest that the shortcoming is quantitatively insignificant if key conditions are fulfilled. The model also shows how to incorporate iceberg trade costs in both constant and increaseing returns to scale sectors. A fall in trade costs can have a large impact on welfare as less resources are wasted. In addition, the same model is proposed for competition policy experiments against illegal collaboration amomg competitors. The result of the simulations provide interesting insights, showing extraordinarily large welfare gains if competition policies are introduced to break the collusive behaviour in the US market among either domestic firms or foreign firms. However, if these policies are brought in to weaken the collusive behaviour among exporting firms, then a welfare loss can be generated because of a large deterioration of terms of trade.