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DESCRIPTION:"Factor Price Overshooting with Trade Liberalization: Theory an
 d Evidence" This paper develops an intra-industry trade model with skilled
  and unskilled labor as factors of production\, endogenous accumulation of
  skilled labor and firm heterogeneity in factor intensities to examine the
  effect of trade reforms on factor prices. Since exporters are more skill 
 intensive than non-exporters\, a decrease in trade barriers initially incr
 eases wage inequality between skilled and unskilled worker\, as a result o
 f an increase in the relative demand for skilled labor. Over time\, howeve
 r\, as agents respond to the change in relative wages by investing in skil
 led labor\, the relative wage of skilled labor decreases. Evidence from Ch
 ilean plant-level data supports the idea of factor price overshooting with
  trade liberalization. Ricardo Lopez is Assistant Professor of Economics a
 t Brandeis University. His research interests are in international trade a
 nd economic development in Latin America. Speaking: Ricardo Lopez Assistan
 t Professor of Economics Brandeis Univeristy Sponsor: Moynihan Institute o
 f Global Affairs\, Co-Sponsor Trade\, Development\, and Political Economy\
 , Co-Sponsor
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DTSTAMP:20260510T212458Z
DTSTART:20121022T200000Z
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SUMMARY:Trade Development and Political Economy presents: Ricardo Lopez 
UID:RFCALITEM639140306982283577
X-ALT-DESC;FMTTYPE=text/html:"Factor Price Overshooting with Trade Liberali
 zation: Theory and Evidence" This paper develops an intra-industry trade m
 odel with skilled and unskilled labor as factors of production\, endogenou
 s accumulation of skilled labor and firm heterogeneity in factor intensiti
 es to examine the effect of trade reforms on factor prices. Since exporter
 s are more skill intensive than non-exporters\, a decrease in trade barrie
 rs initially increases wage inequality between skilled and unskilled worke
 r\, as a result of an increase in the relative demand for skilled labor. O
 ver time\, however\, as agents respond to the change in relative wages by 
 investing in skilled labor\, the relative wage of skilled labor decreases.
  Evidence from Chilean plant-level data supports the idea of factor price 
 overshooting with trade liberalization. Ricardo Lopez is Assistant Profess
 or of Economics at Brandeis University. His research interests are in inte
 rnational trade and economic development in Latin America. Speaking: Ricar
 do Lopez Assistant Professor of Economics Brandeis Univeristy Sponsor: Moy
 nihan Institute of Global Affairs\, Co-Sponsor Trade\, Development\, and P
 olitical Economy\, Co-Sponsor
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