Trade liberalization, wage inequality, and monetary policy

被引：0

作者：

Lechthaler, Wolfgang ^{[1
]}

Mileva, Mariya ^{[2
]}

机构：

[1] Oesterreich Nationalbank, Vienna, Austria

[2] Calif State Univ, Econ Dept, Long Beach, CA 90840 USA

来源：

JOURNAL OF INTERNATIONAL MONEY AND FINANCE | 2024年 / 143卷

关键词：

Trade policy; Monetary policy; Price rigidity; Dynamic trade model; Inequality; SELF-SELECTION; MONEY; ILLUSION; IMPACT; MODEL;

D O I：

10.1016/j.jimonfin.2024.103065

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We build a dynamic model of two countries, two sectors and two factors with firm heterogeneity and price rigidity to analyze the short-run and long-run consequences of trade liberalization and its interaction with monetary policy. We find that price rigidity slows down the reallocation process and might imply temporary falls in real wages for some workers. The stance of monetary policy also has a big impact on real wages and real GDP.

引用

页数：18

共 42 条

[1]

Auray Stephane, 2019, Technical Report., V103, P2121

[2] TRADE ADJUSTMENT: WORKER-LEVEL EVIDENCE [J].