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Firm Productivity And The Variety Of Inputs And Outputs: Evidence From Chinese Trade Data, Ken Onishi, Jianhuan Xu, Guang Yang
Firm Productivity And The Variety Of Inputs And Outputs: Evidence From Chinese Trade Data, Ken Onishi, Jianhuan Xu, Guang Yang
Research Collection School Of Economics
This paper studies how the trade liberalization in China changes the firm productivity. We develop a framework to estimate revenue productivity (TFPR) and real productivity (TFPQ) with multi-product firms. We find that the aggregate TFPR increases 30\% from 2002-2007 and TFPQ increases 22\%, suggesting that the observed TFPR increase is mainly driven by real productivity change rather than the markup change. We further decompose the change of productivity into three channels: (1) access to foreign inputs; (2) technology upgrade; (3) resource re-allocation within the firm. We find the most significant channel is the last one, which explains half of the …
Between Lives And Economy: Optimal Covid-19 Containment Policy In Open Economies, Wen-Tai Hsu, Hsuan-Chih Luke Lin, Yang Han
Between Lives And Economy: Optimal Covid-19 Containment Policy In Open Economies, Wen-Tai Hsu, Hsuan-Chih Luke Lin, Yang Han
Research Collection School Of Economics
This paper studies optimal containment policy for combating a pandemic in an open-economy context. It does so via quantitative analyses using a model that incorporates a standard epidemiological compartmental model in a multi-country, multi-sector Ricardian model of international trade with full-fledged input-output linkages. We devise a novel approach in computing optimal national policies in the long run, and contrast these policies with a baseline in which countries maintain their current policies until vaccine availability. The welfare gains under optimal policies are asymmetric as the gains for the set of countries which should tighten up the containment measures are much larger …
Globalization And Top Income Shares, Lin Ma, Dimitrije Ruzic
Globalization And Top Income Shares, Lin Ma, Dimitrije Ruzic
Research Collection School Of Economics
This paper documents empirically that access to global markets is associated with a higher executive-to-worker pay ratio within the firm. It then uses China's 2001 accession to the World Trade Organization as a trade shock to show that firms that exported to China prior to 2001 subsequently exported more, grew larger, and grew more unequal in terms of executive-to-worker pay. To evaluate analytically and quantitatively the impacts of globalization on top income inequality, this paper builds a model with heterogeneous firms, occupational choice, and executive compensation. In the model, executive compensation grows with the size of the firm, while the …