Publication:
Trade Policy, Income Risk, and Welfare

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dc.contributor.authorKrebs, Tom
dc.contributor.authorKrishna, Pravin
dc.contributor.authorMaloney, William
dc.date.accessioned2012-06-15T21:04:15Z
dc.date.available2012-06-15T21:04:15Z
dc.date.issued2005-06
dc.description.abstractThis paper studies empirically the relationship between trade policy and individual income risk faced by workers, and uses the estimates of this empirical analysis to evaluate the welfare effect of trade reform. The analysis proceeds in three steps. First, longitudinal data on workers are used to estimate time-varying individual income risk parameters in various manufacturing sectors. Second, the estimated income risk parameters and data on trade barriers are used to analyze the relationship between trade policy and income risk. Finally, a simple dynamic incomplete-market model is used to assess the corresponding welfare costs. In the implementation of this methodology using Mexican data, the paper finds that trade policy changes have a significant short run effect on income risk. Further, while the tariff level has an insignificant mean effect, it nevertheless changes the degree to which macroeconomic shocks affect income risk.en
dc.identifierhttp://documents.worldbank.org/curated/en/2005/06/6030533/trade-policy-income-risk-welfare
dc.identifier.doi10.1596/1813-9450-3622
dc.identifier.urihttps://hdl.handle.net/10986/8215
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper; No. 3622
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectADJUSTMENT COSTS
dc.subjectAGGREGATE VOLATILITY
dc.subjectAUTOCOVARIANCE
dc.subjectBORDER TRADE
dc.subjectBUSINESS CYCLE
dc.subjectBUSINESS CYCLES
dc.subjectCAPITAL MARKET
dc.subjectCHANGES IN TRADE
dc.subjectCLOSED ECONOMY
dc.subjectDATA SET
dc.subjectDATA SETS
dc.subjectDEMAND ELASTICITY
dc.subjectDEPENDENT VARIABLE
dc.subjectDOWNWARD RIGIDITY OF WAGES
dc.subjectECONOMETRIC ANALYSIS
dc.subjectECONOMETRIC ISSUES
dc.subjectECONOMIC GROWTH
dc.subjectECONOMICS
dc.subjectECONOMISTS
dc.subjectELASTICITY
dc.subjectEMPIRICAL ANALYSIS
dc.subjectEMPIRICAL ESTIMATES
dc.subjectEMPIRICAL EVIDENCE
dc.subjectEMPIRICAL LITERATURE
dc.subjectEMPIRICAL RESULTS
dc.subjectEMPIRICAL STUDIES
dc.subjectEMPIRICAL WORK
dc.subjectEMPLOYMENT
dc.subjectENDOGENOUS DETERMINATION
dc.subjectEQUILIBRIUM
dc.subjectEXCHANGE RATE
dc.subjectEXTENDED UNEMPLOYMENT
dc.subjectFOREIGN COMPETITION
dc.subjectFORMAL ANALYSIS
dc.subjectFUTURE RESEARCH
dc.subjectGDP
dc.subjectGENERAL EQUILIBRIUM MODEL
dc.subjectGROWTH RATE
dc.subjectHIGH INFLATION
dc.subjectHUMAN CAPITAL
dc.subjectIDIOSYNCRATIC SHOCKS
dc.subjectIMPACT OF TRADE
dc.subjectIMPACT OF TRADE LIBERALIZATION
dc.subjectIMPORT PENETRATION
dc.subjectINCOME
dc.subjectINCOME DATA
dc.subjectINCOME INEQUALITY
dc.subjectINCOME LEVELS
dc.subjectINCOME SHOCKS
dc.subjectINCOMPLETE MARKETS
dc.subjectINDIVIDUAL INCOMES
dc.subjectINFLATION
dc.subjectINFLATION RATES
dc.subjectINSURANCE
dc.subjectINSURANCE MARKETS
dc.subjectINTERNATIONAL PRODUCTION
dc.subjectJOB CREATION
dc.subjectLABOR DEMAND
dc.subjectLABOR DEMAND FUNCTIONS
dc.subjectLABOR FORCE
dc.subjectLABOR MARKET
dc.subjectLINEAR REGRESSION
dc.subjectLONGITUDINAL DATA
dc.subjectLOWERING TRADE BARRIERS
dc.subjectMACROECONOMIC CONDITIONS
dc.subjectMACROECONOMIC ENVIRONMENT
dc.subjectMACROECONOMIC FACTORS
dc.subjectMACROECONOMIC SHOCKS
dc.subjectMACROECONOMIC VARIABLES
dc.subjectMARKET LIBERALIZATION
dc.subjectMEAN VALUE
dc.subjectMEASUREMENT ERROR
dc.subjectOPEN ECONOMIES
dc.subjectOPENNESS
dc.subjectPERMANENT INCOME
dc.subjectPOLICY CHANGE
dc.subjectPOLICY CHANGES
dc.subjectPOLICY REFORM
dc.subjectPOLICY REFORMS
dc.subjectPOLICY RESEARCH
dc.subjectPOLITICAL ECONOMY
dc.subjectPOSITIVE EFFECTS
dc.subjectPRESENT VALUE
dc.subjectPRODUCTIVITY
dc.subjectRANDOM WALK
dc.subjectREAL EXCHANGE RATE
dc.subjectREAL WAGE
dc.subjectREAL WAGES
dc.subjectREDUCTION IN TARIFFS
dc.subjectREGRESSION ANALYSIS
dc.subjectRESOURCE ALLOCATION
dc.subjectRISK AVERSION
dc.subjectSAVINGS
dc.subjectSELECTION BIAS
dc.subjectSERIAL CORRELATION
dc.subjectSERIAL DEPENDENCE
dc.subjectSIGNIFICANT RELATIONSHIP
dc.subjectTARIFF DATA
dc.subjectTARIFF RATE
dc.subjectTARIFF RATES
dc.subjectTARIFF REDUCTION
dc.subjectTARIFF REDUCTIONS
dc.subjectTECHNOLOGICAL PROGRESS
dc.subjectTRADE AGREEMENT
dc.subjectTRADE BARRIERS
dc.subjectTRADE LIBERALIZATION
dc.subjectTRADE LIBERALIZATION INCREASES
dc.subjectTRADE OPENNESS
dc.subjectTRADE PATTERNS
dc.subjectTRADE POLICY
dc.subjectTRADE REFORM
dc.subjectTRADE REFORMS
dc.subjectTRANSITORY SHOCKS
dc.subjectUNEMPLOYMENT
dc.subjectWAGE CHANGES
dc.subjectWAGE RATE
dc.subjectWAGE RATES
dc.subjectWAGES
dc.subjectWELFARE EFFECTS
dc.subjectWORKERS EXPERIENCE
dc.subjectWORLD PRICES
dc.titleTrade Policy, Income Risk, and Welfareen
dspace.entity.typePublication
okr.crossref.titleTrade Policy, Income Risk, And Welfare
okr.date.doiregistration2025-04-10T09:29:31.183832Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2005/06/6030533/trade-policy-income-risk-welfare
okr.guid575881468045840334
okr.identifier.doi10.1596/1813-9450-3622
okr.identifier.externaldocumentum000112742_20050628085235
okr.identifier.internaldocumentum6030533
okr.identifier.reportWPS3622
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2005/06/28/000112742_20050628085235/Rendered/PDF/wps3622.pdfen
okr.region.administrativeLatin America & Caribbean
okr.region.countryMexico
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isAuthorOfPublicationc7d4d195-f430-5039-b564-a3e95b24a117
relation.isAuthorOfPublication.latestForDiscoveryc7d4d195-f430-5039-b564-a3e95b24a117
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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