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Full-Text Articles in Social and Behavioral Sciences
Globalization, Inequality, And Redistribution: Theory And Evidence, Giray Gozgor, Priya Ranjan
Globalization, Inequality, And Redistribution: Theory And Evidence, Giray Gozgor, Priya Ranjan
Priya Ranjan
This paper constructs a simple theoretical model to study the implications of globalization for inequality and redistribution. It shows that when globalization increases inequality, a policymaker interested in maximizing the sum of welfare of all agents increases redistribution. Empirically, the paper examines the effects of globalization on inequality and redistribution in a panel data set of 140 countries for the period from 1970 to 2012. We find that both inequality and redistribution have been increasing with globalization. The results are robust to the inclusion of many different controls and the exclusion of outliers.
Offshoring, Unemployment, And Welfare With Risk Averse Workers, Priya Ranjan
Offshoring, Unemployment, And Welfare With Risk Averse Workers, Priya Ranjan
Priya Ranjan
This paper studies the welfare and policy implications of offshoring when risk averse workers face the risk of unemployment. If offshored inputs can be easily substituted for domestic workers, then offshoring reduces wages and increases unemployment. In this situation, in the absence of any government intervention offshoring not only reduces the welfare of workers but could reduce aggregate welfare as well if workers are highly risk averse and the markets for insurance against unemployment risk are missing. In addition to unemployment insurance, the role of employment protection policies- severance payments and administrative cost of firing -in protecting workers against the …
O¤Shoring, Unemployment, And Welfare With Risk Averse Workers, Priya Ranjan
O¤Shoring, Unemployment, And Welfare With Risk Averse Workers, Priya Ranjan
Priya Ranjan
This paper studies the welfare and policy implications of offshoring when risk averse workers face the risk of unemployment. If offshored inputs can be easily substituted for domestic workers, then offshoring reduces wages and increases unemployment. In this situation, in the absence of any government intervention offshoring not only reduces the welfare of workers but could reduce aggregate welfare as well if workers are highly risk averse and the markets for insurance against unemployment risk are missing. In addition to unemployment insurance, the role of employment protection policies- severance payments and administrative cost of firing -in protecting workers against the …