William R. Cline, Senior Fellow, is currently on leave as Deputy Managing Director at the Institute of International Finance.
Preface
ix
(4)
Acknowledgments
xiii
1 Trends in Income Distribution and Wages
1
(34)
Long-Term Patterns
1
(3)
Family Income, Poverty, and Wealth
4
(10)
Wage Distribution
14
(9)
Education and Skills
23
(5)
Experience and Unexplained Variation
28
(1)
Productivity and Wage Levels
29
(2)
International Patterns
31
(1)
Overview
32
(3)
2 A Critical Review of the Literature
35
(116)
Stolper-Samuelson and Factor-Price Equalization
35
(11)
Development Economists 1
46
(3)
Labor Economists 1
49
(16)
Labor Economists 2
65
(24)
Trade Economists 1
89
(21)
Trade Economists 2
110
(17)
Development Economists 2
127
(6)
Trade Economists 1 Revisited
133
(3)
Labor Economists 1 Revisited
136
(3)
Overview
139
(10)
Appendix 2A
149
(2)
3 Experiments with the Krugman Model
151
(22)
Introduction
151
(1)
The Krugman Model
152
(6)
Constant-Elasticity-of-Substitution Reformulation
158
(3)
Elasticity of Substitution between Skilled and Unskilled Labor
161
(2)
CES Estimates with Limited Substitutability
163
(2)
Decadal Outlook with the CES-Krugman Model
165
(6)
Appendix 3A
171
(2)
4 The Trade and Income Distribution Equilibrium (TIDE) Model
173
(80)
Model Structure
173
(5)
Factor Data
178
(4)
Trade Data
182
(11)
Model Calibration
193
(5)
Backcast and Counterfactuals
198
(25)
TIDE Model Forecasts
223
(8)
Model Sensitivity
231
(3)
Conclusion
234
(6)
Appendix 4A
240
(13)
5 Conclusion
253
(24)
Overview of the Study
253
(10)
An Illustrative Synthesis
263
(6)
Absolute versus Relative Wage
269
(3)
Policy Implications
272
(5)
Appendix A Employment and Wage Growth in Europe and the United States
277
(8)
References
285
(10)
Index
295
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