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150128 ||| eng |
| 020 |
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|a 9781455209415
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| 245 |
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|a On the Distributive Effects of Terms of Trade Shocks
|b The Role of Non-tradable Goods
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2010
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| 300 |
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|a 38 pages
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| 653 |
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|a Economic policy
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| 653 |
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|a Wealth
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| 653 |
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|a Economics
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| 653 |
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|a Income
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| 653 |
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|a Terms of trade
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| 653 |
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|a Tariffs
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| 653 |
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|a Tariff
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| 653 |
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|a Labour
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| 653 |
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|a International Trade Organizations
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| 653 |
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|a Public finance & taxation
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| 653 |
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|a Saving
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| 653 |
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|a Occupational Licensing
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| 653 |
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|a Trade Policy
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| 653 |
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|a Exports and Imports
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| 653 |
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|a Aggregate Factor Income Distribution
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| 653 |
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|a International economics
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| 653 |
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|a Labor
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| 653 |
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|a Consumption
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| 653 |
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|a Labor market
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Macroeconomics: Consumption
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| 653 |
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|a Skilled labor
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| 653 |
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|a Empirical Studies of Trade
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| 653 |
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|a Taxation
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| 653 |
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|a Professional Labor Markets
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| 653 |
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|a Income economics
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| 653 |
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|a Nternational cooperation
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| 710 |
2 |
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|a International Monetary Fund
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| 041 |
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7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
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|a IMF Working Papers
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| 028 |
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|a 10.5089/9781455209415.001
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| 856 |
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|u https://elibrary.imf.org/view/journals/001/2010/241/001.2010.issue-241-en.xml?cid=24304-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a We introduce non-tradable goods to the Heckscher-Ohlin-Samuelson (HOS) model to study the distributive effects of terms of trade shocks. We show that the employment of resources in activities producing exclusively for the local market induces a crucial association between domestic spending and factor demand and prices, which is absent in the usual HOS framework. Specifically, in a two-sector economy (producing only exportable and non-tradable goods) there are no redistributive effects of external terms of trade shifts-i.e. no Stolper-Samuelson-type of effect. By extending the model to the domestic production of a third, importable good, we show that distributional tensions arise. Distributional conflicts occur within urban labor groups (skilled vs. unskilled) and not only between the "traditional" rural vs. urban factors. Finally, export taxes are imposed to re-distribute the effects of external shocks. We show that the ability of the government to cushion the impact of the terms of trade shift on the economy’s income distribution depends crucially on the use of the tax revenues
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