Globalization : the macroeconomic implications of microeconomic heterogeneity
Author(s)
Bibliographic Information
Globalization : the macroeconomic implications of microeconomic heterogeneity
(World scientific studies in international economics / series editor, Robert M. Stern, v. 54)
World Scientific, c2017
Available at 3 libraries
  Aomori
  Iwate
  Miyagi
  Akita
  Yamagata
  Fukushima
  Ibaraki
  Tochigi
  Gunma
  Saitama
  Chiba
  Tokyo
  Kanagawa
  Niigata
  Toyama
  Ishikawa
  Fukui
  Yamanashi
  Nagano
  Gifu
  Shizuoka
  Aichi
  Mie
  Shiga
  Kyoto
  Osaka
  Hyogo
  Nara
  Wakayama
  Tottori
  Shimane
  Okayama
  Hiroshima
  Yamaguchi
  Tokushima
  Kagawa
  Ehime
  Kochi
  Fukuoka
  Saga
  Nagasaki
  Kumamoto
  Oita
  Miyazaki
  Kagoshima
  Okinawa
  Korea
  China
  Thailand
  United Kingdom
  Germany
  Switzerland
  France
  Belgium
  Netherlands
  Sweden
  Norway
  United States of America
Note
Includes bibliographical references
Description and Table of Contents
Description
We live in an era of globalization: ever increasing international integration of goods, capital, and labor markets. The benefits and costs of increased trade and financial integration in the world today continue to be hotly debated. The reason globalization is controversial is that the impact of globalization is often nuanced, and theory reveals many possibilities. The impact of globalization on macroeconomic outcomes thus remains an empirical and quantitative question.Levchenko collects, in one volume, the results of a multi-year research program to build heterogeneous firm and sector models for the quantitative evaluation of globalization. The volume explores the impact of globalization on both welfare and macroeconomic fluctuations using these micro-founded quantitative models.Recent advances in international trade have built tractable theoretical models that can be implemented numerically and used to evaluate quantitatively the impact of a variety of phenomena. These models are global in scale - encompassing as many as 80 countries as well as multiple sectors - and at the same time feature rich micro-foundations of firm and technological heterogeneity. This combination means it is now possible to dramatically expand the set of questions that can be answered, in particular regarding the consequences of real-world heterogeneity present in the global economy, both at the firm and sector level.The book uses these frameworks to address the central questions about globalization around the world: the impacts of reductions in trade costs, long-run changes in comparative advantage, and migration of labor, among others. The book aims to provide a unifying perspective that merges traditional theory, econometric evaluation, and quantitative modeling. The running theme of this research program is that in order to understand the macroeconomic impact of globalization, it is essential to measure, and model, the microeconomic heterogeneity in the economy.
Table of Contents
- Sectoral Heterogeneity: Ricardian Productivity Differences and the Gains from Trade (Andrei A Levchenko and Jing Zhang) The Global Welfare Impact of China: Trade Integration and Technological Change (Andrei A Levchenko, Julian di Giovanni and Jing Zhang) Comparative Advantage and the Welfare Impact of European Integration (Andrei A Levchenko and Jing Zhang) The Global Labor Market Impact of Emerging Giants: A Quantitative Assessment (Andrei A Levchenko and Jing Zhang) Space permitting: Comparative Advantage, Complexity, and Volatility (Andrei A Levchenko and Pravin Krishna)
- Firm Heterogeneity: Power Laws in Firm Size and Openness to Trade: Measurement and Implications (Andrei A Levchenko, Julian di Giovanni and Romain Ranciere) Firm Entry, Trade, and Welfare in Zipf's World (Andrei A Levchenko and Julian di Giovanni) Firms, Destinations, and Aggregate Fluctuations (Andrei A Levchenko, Julian di Giovanni and Isabelle Mejean) Country Size, International Trade, and Aggregate Fluctuations in Granular Economies (Andrei A Levchenko and Julian di Giovanni) Space permitting: A Global View of Cross-Border Migration (Andrei A Levchenko, Julian di Giovanni and Francesc Ortega)
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