Immigrants reduce geographic inequality

Brian C Cadena, Brian Kovak 12 August 2013

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Recently, economists have noticed some disturbing trends in the US economy. Job creation, job destruction, and job-to-job switches are all in decline (Davis, Faberman, and Haltiwanger 2012; Hyatt and Spletzer 2013). Further, fewer and fewer people are making long-distance moves in order to take better jobs (Molloy, Smith, and Wozniak 2011). This slowdown is problematic because labour mobility, especially across geography, is a key contributor to the dynamism of an economy, and it tends to reduce inequality in economic outcomes across space (Blanchard and Katz 1992).

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Topics:  Labour markets

Tags:  US, immigration, Mexico

Monetary policy in Latin America: Where are we going?

Christian Daude 10 December 2012

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Inflation targeting has served countries in Latin America well . They have achieved macroeconomic stability by reducing inflation and the pass-through of external shocks such as oil price and exchange rate fluctuations (cf. Mishkin and Schmidt-Hebbel 2007).

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Topics:  Macroeconomic policy Monetary policy

Tags:  inflation targeting, Latin America, Central Banks, foreign exchange, Brazil, Chile, Mexico, Colombia, Peru

Rethinking the ‘war on drugs’: Insights from the US and Mexico

Ernesto Zedillo 22 May 2012

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America’s most loved economics textbook (Mankiw 2012) uses the ‘war on drugs’ to illustrate how restricting supply when demand is inelastic increases the total cash spent on illegal drugs. Every anti-smuggling tactic makes each consignment more profitable. No wonder the US war on drugs is not going so well. Yet despite 40 years of violence, corruption and continuing addiction, the US is in no mood to alter course.

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Topics:  Health economics

Tags:  US, Mexico, drug policy, illegal drugs

Getting ready: Preparation for exporting

Leonardo Iacovone, Beata Javorcik 05 April 2012

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Understanding how domestic companies could be supported in their efforts to break into export markets and diversify their range of export products is an important concern for policymakers. Indeed, export diversification is viewed as a way of stimulating growth by policymakers and academics alike (Rivera-Batiz and Romer 1991, Grossman and Helpman 1991, Hausmann et al 2007).

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Topics:  International trade

Tags:  quality, exports, Mexico

TPP negotiations, anticipatory trade creation, and implications for European trade policy

Florian Mölders, Ulrich Volz 23 March 2012

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The Trans-Pacific Partnership (TPP) agreement has been under negotiation since 2010. TPP negotiations build on the Trans-Pacific Strategic Economic Partnership Agreement (P4) between Brunei Darussalam, Chile, New Zealand, and Singapore, which was signed in June 2005 and entered into force in May 2006. The aim of the TPP negotiations has been to create an ambitious preferential trade agreement involving the P4 countries and Australia, Peru, the United States, Vietnam, and Malaysia.

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Topics:  International trade

Tags:  trade policy, Japan, Canada, Mexico, Asia-Pacific, Trans-Pacific Partnership

Does openness generate growth? Reconciling the experiences of Mexico and China

Timothy Kehoe, Kim Ruhl 19 November 2011

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Does opening to international trade and foreign investment generate economic growth? A large empirical literature employs regressions with a country’s growth rate as the dependent variable and some measure of openness among the independent variables. Although some researchers find that growth is positively correlated with the share of trade in GDP, Rodríguez and Rodrik (2001) point out that the trade share is not a direct measure of policy. When the dependent variable is a measure of policy, the results are ambiguous and highly sensitive to the exact specification of the regression.

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Topics:  International finance International trade

Tags:  China, free trade, financial globalisation, openness, Mexico

The two faces of Wal-Mart in Mexico

Leonardo Iacovone, Beata Javorcik, Wolfgang Keller, James R Tybout 20 August 2011

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Wal-Mart is a company that polarises. While there is much to be said about the low prices and extensive selection Wal-Mart offers its customers, its business model can be controversial (LA Times 2011). The US Supreme court has just heard a major sex discrimination lawsuit against the firm, and Wal-Mart is frequently in the news for its anti-union policies, its use of “sweatshop” suppliers abroad, and its impact on smaller retailers. Such controversies are not limited to the United States.

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Topics:  Global economy International trade

Tags:  globalisation, Mexico, Wal-Mart, deregulation

Did trade liberalisation benefit women? The case of Mexico in the 1990s

Ernesto Aguayo-Téllez, Jim Airola, Chinhui Juhn 24 August 2010

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Promoting gender equality is one of the eight Millennium Development Goals of the United Nations (UN 2009). The potential paths to achieving this goal are many. An oft-cited path is to raise global awareness of the issue and to directly campaign for change. Another possibility may be to integrate poorer and less-developed economies into world markets by encouraging trade liberalisation.

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Topics:  Development International trade Labour markets Poverty and income inequality

Tags:  development, gender inequality, international trade, Mexico

Multi-product exporters: Product churning, uncertainty and export discoveries

Leonardo Iacovone, Beata Javorcik 01 August 2010

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Virtually all successful development stories in the last few decades have been accompanied by massive increases in exports. It is not surprising therefore that the question of "how do firms start exporting?" is one of great interest to policymakers.

Yet answering that question is difficult since exporting is endogenous to several other poorly understood phenomena such as learning about new markets, development of new products, entry of new firms, etc... Quite simply, it's hard to know what is causing what in most situations.

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Topics:  Development International trade

Tags:  exports, NAFTA, Mexico

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