US manufacturing and the deindustrialisation debate

Article Abstract:

Trends in US manufacturing production and employment to show that the United States is not deindustrializing, contrary to public perception. US manufactured exports have risen since 1985, although US products can generally compete in price but not in quality and innovation. Thus, manufacturing profits and wages have not kept pace with inflation. Employment in manufacturing has fallen by 2 million workers since 1979 and is not expected to equal its 1979 peak again in the 20th century.

Manufacturing industry, Manufacturing industries, International trade, Employment, United States economic conditions, Industrial productivity, Blue collar workers

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Currency appreciation and 'deindustrialisation': a European perspective

Article Abstract:

The relationship between the change in the value of a country's currency and its competitiveness as well as industrialization level is discussed. Contrary to popular thinking, an appreciation in currency value does not lead to reduced competitiveness nor does a devaluation result in greater competitiveness. Empirical evidence shows that the reverse has been true in the US and Europe primarily because of tax policies.

Evaluation, Foreign exchange, Monetary policy

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Entry, dumping, and shakeout

Article Abstract:

A model of market entry, dumping and shakeout is presented. The two-sector, two-country Ricardian model is similar to the 1982 model of Boyan Jovanovic, but the terms of trade, market entry and market exit are endogenous. The model shows that dumping can occur in the free-trade equilibrium, even in situations in which the only difference between the countries is the amount of initial technological knowledge.

Models, Dumping (International trade)

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