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Issue Information: International Journal of Economic Theory 4/2024 期刊信息：国际经济理论杂志 4/2024
IF 0.5 4区 经济学
International Journal of Economic Theory Pub Date : 2024-11-15 DOI: 10.1111/ijet.12380
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引用次数: 0
Trade and inequality in an overlapping generations model with capital accumulation 具有资本积累的世代重叠模型中的贸易与不平等问题
IF 0.5 4区 经济学
International Journal of Economic Theory Pub Date : 2024-10-25 DOI: 10.1111/ijet.12416
Jun Nie, B. Ravikumar, Michael Sposi
{"title":"Trade and inequality in an overlapping generations model with capital accumulation","authors":"Jun Nie,&nbsp;B. Ravikumar,&nbsp;Michael Sposi","doi":"10.1111/ijet.12416","DOIUrl":"https://doi.org/10.1111/ijet.12416","url":null,"abstract":"<p>We study the lifecycle aspect of within-country inequality that stems from capital and labor services supplied by individuals. Our environment is a combination of a multicountry trade model and an overlapping generations model with production and capital accumulation. Trade liberalization increases the measured total factor productivity in each country, which increases the marginal product of capital and incentivizes capital accumulation. Higher capital stock and higher measured productivity raise the marginal product of labor and, hence, wages. Inequality, measured by the ratio of old agents' income to young agents' income, evolves over time due to capital accumulation during the transition from autarky to an open-economy world. Immediately after liberalization, inequality increases. Over time, capital accumulates at a diminishing rate and inequality declines.</p>","PeriodicalId":44551,"journal":{"name":"International Journal of Economic Theory","volume":"20 4","pages":"416-434"},"PeriodicalIF":0.5,"publicationDate":"2024-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142665180","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Issue Information: International Journal of Economic Theory 3/2024 期刊信息：国际经济理论杂志 3/2024
IF 0.5 4区 经济学
International Journal of Economic Theory Pub Date : 2024-08-08 DOI: 10.1111/ijet.12379
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引用次数: 0
Interest effect of international outsourcing, foreign investment, and welfare 国际外包、外国投资和福利的利益效应
IF 0.5 4区 经济学
International Journal of Economic Theory Pub Date : 2024-08-02 DOI: 10.1111/ijet.12411
Jai-Young Choi, Eden S. H. Yu
{"title":"Interest effect of international outsourcing, foreign investment, and welfare","authors":"Jai-Young Choi,&nbsp;Eden S. H. Yu","doi":"10.1111/ijet.12411","DOIUrl":"10.1111/ijet.12411","url":null,"abstract":"<p>This paper investigates the welfare ramifications of international outsourcing in the presence of foreign investment initiated by outsourcing-induced interest effect. Utilizing the Heckscher-Ohlin model of general equilibrium, we show that unlike the common view that outsourcing renders negative effects on domestic employment, but positive effect on the welfare, (a) the output and employment effects of outsourcing are ultra-biased such that it always increases (decreases) those of the outsourcing (nonoutsourcing) sector; (b) the effects of outsourcing on factor-intensities and factor-prices depend on the factor intensity ranking such that outsourcing occurring in the capital-intensive (labor-intensive) sector lowers (raises) the capital-labor ratio of both the outsourcing and the nonoutsourcing sectors, lowers (raises) the real wage rate and raises (lowers) the real interest rate, and hence worsens (improves) income distribution; (c) in the presence of foreign investment, outsourcing in the capital-intensive (labor-intensive) sector may be welfare-reducing (is always welfare-increasing) due to increase (decrease) in the outsourcing-induced interest payments for the foreign capital stock. Noting that international outsourcing nowadays serves as a key driving force for production fragmentation and supply chain formation, this paper discovers an important, but previously unnoticed feature in international outsourcing, namely, the outsourcing-induced an interest rate effect on foreign capital movement.</p>","PeriodicalId":44551,"journal":{"name":"International Journal of Economic Theory","volume":"20 4","pages":"400-415"},"PeriodicalIF":0.5,"publicationDate":"2024-08-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141880562","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
New trade theory converges to the old trade theory—An elementary theoretical perspective 新贸易理论向旧贸易理论靠拢--一个基本理论视角
IF 0.5 4区 经济学
International Journal of Economic Theory Pub Date : 2024-07-23 DOI: 10.1111/ijet.12412
Sugata Marjit, Biswajit Mandal, Lei Yang
{"title":"New trade theory converges to the old trade theory—An elementary theoretical perspective","authors":"Sugata Marjit,&nbsp;Biswajit Mandal,&nbsp;Lei Yang","doi":"10.1111/ijet.12412","DOIUrl":"10.1111/ijet.12412","url":null,"abstract":"<p>We introduce factor specificity to reflect the cost of adjustment of reallocating factors between technologies that determine fixed costs and variable costs in a typical Dixit–Stiglitz–Krugman (DSK) model of trade, retaining all other standard specifications of such a framework. We show that such an apparently benign change fundamentally alters the results of the DSK model. The number of varieties and output per variety depends entirely on full employment conditions. Thus, DSK and Heckscher–Ohlin–Samuelson (HOS) models, which represent the major workhorses of old trade theory, converge in the sense that now the number of varieties and outputs per variety are completely determined by factor endowments.</p>","PeriodicalId":44551,"journal":{"name":"International Journal of Economic Theory","volume":"20 4","pages":"395-399"},"PeriodicalIF":0.5,"publicationDate":"2024-07-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141776625","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Competition policy in a general-equilibrium platform economy 一般均衡平台经济中的竞争政策
IF 0.5 4区 经济学
International Journal of Economic Theory Pub Date : 2024-07-17 DOI: 10.1111/ijet.12410
Hamid Beladi, Chi-Chur Chao, Kuo-Hsuan Chin
{"title":"Competition policy in a general-equilibrium platform economy","authors":"Hamid Beladi,&nbsp;Chi-Chur Chao,&nbsp;Kuo-Hsuan Chin","doi":"10.1111/ijet.12410","DOIUrl":"10.1111/ijet.12410","url":null,"abstract":"<p>This paper examines the wage and welfare effects of the competition policy in a platform economy. An increase in downstream platform providers widens the skilled-unskilled wage gap in the short run. Moreover, competition brings about a beneficial price pass-through effect but a detrimental cost-pushing effect on upstream manufacturers. This leads to business dynamism in manufacturing firms. By numerical simulations, the number of manufacturing firms increases, thus further widening wage inequality in the long run. The optimal number of platform providers is smaller when the business-stealing effect is larger, whereas it is larger when the price pass-through effect is greater.</p>","PeriodicalId":44551,"journal":{"name":"International Journal of Economic Theory","volume":"20 4","pages":"435-453"},"PeriodicalIF":0.5,"publicationDate":"2024-07-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141741498","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
R&D financing and production: A new Ricardian specific factor model 研发融资与生产：新的李嘉图特定要素模型
IF 0.5 4区 经济学
International Journal of Economic Theory Pub Date : 2024-07-02 DOI: 10.1111/ijet.12409
Gouranga G. Das, Koushik Kumar Hati, Debkanika Gupta
{"title":"R&D financing and production: A new Ricardian specific factor model","authors":"Gouranga G. Das,&nbsp;Koushik Kumar Hati,&nbsp;Debkanika Gupta","doi":"10.1111/ijet.12409","DOIUrl":"10.1111/ijet.12409","url":null,"abstract":"<p>This paper contributes to the literature on finance, production, and Research and Development (R&amp;D) by investigating the unique possibilities of polarized decisions of entrepreneurs to yield “extreme” points rather than an “interior solution.” Financiers provide credits for employing sector-specific skilled and unskilled workers as well as for R&amp;D. With the objective of maximizing returns, financiers' interest lies in financing R&amp;D <i>only</i> in the skilled sector while the unskilled sector—without innovation—collapses. Such corner solution occurs due to much higher skilled-augmenting technical change guaranteeing maximum prospective return than that in the unskilled. This offers a novel interpretation of a declining share of production workers.</p>","PeriodicalId":44551,"journal":{"name":"International Journal of Economic Theory","volume":"20 4","pages":"478-501"},"PeriodicalIF":0.5,"publicationDate":"2024-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141511700","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Trade, labor market rigidity, and distributive share in a generalized oligopolistic equilibrium model 广义寡头垄断均衡模型中的贸易、劳动力市场刚性和分配份额
IF 0.5 4区 经济学
International Journal of Economic Theory Pub Date : 2024-07-02 DOI: 10.1111/ijet.12407
Dibyendu Maiti
{"title":"Trade, labor market rigidity, and distributive share in a generalized oligopolistic equilibrium model","authors":"Dibyendu Maiti","doi":"10.1111/ijet.12407","DOIUrl":"10.1111/ijet.12407","url":null,"abstract":"<p>This paper applies a generalized oligopolistic equilibrium model with labor rigidity under strategic competition between heterogeneous firms, explaining the trade between two similar countries for the declining wage and labor share, the common experiences of many countries worldwide. The specialization effect for the labor movement from a high to less labor-intensive sector arising from the heterogeneous productivity distribution of firms between trading partners dampens the wage more than the joint effect of market size and competition working favorably on it. Despite the wage drop, the trade ambiguously affects employment but unambiguously reduces their distributive share.</p>","PeriodicalId":44551,"journal":{"name":"International Journal of Economic Theory","volume":"20 4","pages":"454-477"},"PeriodicalIF":0.5,"publicationDate":"2024-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141511701","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Elasticity of substitution, long-run growth, and convergence speed: A general framework 替代弹性、长期增长和收敛速度：总体框架
IF 0.5 4区 经济学
International Journal of Economic Theory Pub Date : 2024-06-21 DOI: 10.1111/ijet.12408
Manuel A. Gómez
{"title":"Elasticity of substitution, long-run growth, and convergence speed: A general framework","authors":"Manuel A. Gómez","doi":"10.1111/ijet.12408","DOIUrl":"10.1111/ijet.12408","url":null,"abstract":"<p>This paper studies the effect of factor substitution on long-run growth and the convergence speed in the one-sector endogenous-growth model. We consider a general production function that encompasses the most commonly used specifications as particular cases. For two economies with the same initial conditions and parameter values, including the baseline elasticity of substitution (EOS), the one with the higher asymptotic EOS has the higher long-run growth and convergence speed. If the asymptotic EOS is a nondecreasing function of its baseline value, an increase in the baseline EOS entails a higher long-run growth and convergence speed.</p>","PeriodicalId":44551,"journal":{"name":"International Journal of Economic Theory","volume":"20 3","pages":"352-370"},"PeriodicalIF":0.5,"publicationDate":"2024-06-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141511702","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Stockpiling-based pricing and its welfare effects 基于库存的定价及其福利效应
IF 0.5 4区 经济学
International Journal of Economic Theory Pub Date : 2024-06-18 DOI: 10.1111/ijet.12406
Ruochen Li
{"title":"Stockpiling-based pricing and its welfare effects","authors":"Ruochen Li","doi":"10.1111/ijet.12406","DOIUrl":"https://doi.org/10.1111/ijet.12406","url":null,"abstract":"<p>Consumer stockpiling involves the intertemporal demand substitution that allows the firm to differentiate stockpilers from others and employ varying pricing strategies. In this paper, I set up a two-period monopoly model that incorporates consumer stockpiling behavior to investigate the effect of stockpiling-based pricing. In equilibrium, I show that when the level of heterogeneity among consumers is high, consumer stockpiling can be used as a device for the firm to identify preferences and price discrimination. Welfare analysis suggests that consumer stockpiling improves consumer surplus and profit despite the associated stockpiling-based pricing.</p>","PeriodicalId":44551,"journal":{"name":"International Journal of Economic Theory","volume":"20 3","pages":"371-391"},"PeriodicalIF":0.5,"publicationDate":"2024-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141967992","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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