Trade and Income Distribution

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Description

For more than a decade, there have been two necessary trends within the American economy. The first trend has been toward increasing openness of the economy to the international flows of goods, money, people, and ideas. The second one has been very slow or even negative growth in real wages and a widening disparity within the distribution of source of revenue, particularly between slightly skilled and unskilled workers. Many observers suspect that these two trends are connected: increasing competition from foreign producers, particularly in low-wage developing countries, may have contributed to stagnation in US real wages and a worsening source of revenue distribution. These concerns have led to proposals to slow or reverse the internationalization of the American economy with a view to bolster real wages, preserve jobs, and prevent a worsening source of revenue distribution. The problem is hotly debated among analysts and policymakers.

This study will provide a fresh and comprehensive analysis of theory and empirical evidence at the relationships among trade, employment and wages, and source of revenue distribution. It’ll explore the full range of options to be had to policymakers, including slowing the pace of trade liberalization, providing adjustment assistance to trade-impacted workers, and encouraging investment in human and physical capital.

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