The nber is the nations leading nonprofit economic research organization. Update on the role of vertical linkages rudolfs bems, robert johnson, kei mu yi 27 november 2009 international supply chains or vertical linkages are a leading contender for explaining why the great trade collapse was so great. Reprinted in recent developments in the economics of structural change, the international library of critical writings in economics, edited by kei mu yi, cheltenham. Table of contents for international economics, globalization, and policy. Keimu yi is vice president and economist at the research department of the federal reserve bank of philadelphia. Global value chains and inequality with endogenous labor supply. Two features of this growth present challenges to the standard trade models. He also served as a consultant in the research department of the federal reserve bank of minneapolis, where he held the positions of senior vice president and director of research, as well as special policy advisor to the president, from august 2010 to january 2016. Ayhan and yi, kei mu, the trade comovement problem. Richard baldwin and beatrice weder di mauro, economics in the time of covid19, washington, d.
Edited by keimu yi, anderson professor of economics, the university of houston, houston, texas, michael sposi, assistant professor of economics, southern. Shakeup at minneapolis fed ousts two top economists. Recent developments in the economics of structural change. Professor in economics, a department of university of houston.
He also serves as a consultant in the research department of the federal reserve bank of minneapolis, where he held the positions of senior vice president and director of research, as well as special policy advisor to the president, from august 2010 to january 2016. Anderson professor of economics at the university of houston, and am a research associate with the iti and ifm programs at the. This paper uses a global inputoutput framework to quantify us and eu demand spillovers and the elasticity of world trade to gdp during the global recession of 20082009. Anderson chair in economics at the university of houston. We also find that growth in vertical specialization accounts for 30% of the growth in these countries exports. Anderson professor of economics at the university of houston, and am a research associate with the iti and ifm programs at the nber. The economics department is pleased to announce the appointment of dr. He also serves as a consultant in the research department of the federal. Each volume has been prepared by a leading specialist who has written an authoritative introduction to the literature included. Working papers articles software chapters books working papers. Yi, currently vice president and head of monetary and macroeconomic research at the federal reserve bank of philadelphia, will become senior vice president and director of research for the. Citeseerx on the effect of the internet on international.
Publication global value chains and inequality with endogenous labor supply with kei mu yi journal of international economics, november 2018, 115, 223241 journal page working. Bibliographic record and links to related information available from the library of congress catalog. Recent developments in the economics of structural change books, edward elgar publishing. What do these numbers mean and why are they public. Global value chains and inequality with endogenous labor supply with eunhee lee. Keimu yi federal reserve bank of minneapolis research. Senior vice president federal reserve bank of dallas. The new york fed has been working with triparty repo market participants to make changes to improve the resiliency of the market to financial stress. Federal reserve bank of minneapolis names new research. No 10142, imf working papers from international monetary fund abstract.
The book topics in empirical international economics. The nature and growth of vertical specialization in world. This cited by count includes citations to the following articles in scholar. Trade and other policy options and programs to deter foreign. By michelle connolly and kei mu yi this paper assesses the importance of trade policy reforms in south korea, as well as the general agreement on tariffs and trade gat t tariff reductions, in. Johnson 2,3 and kei mu yi 4 1 international monetary fund, washington, dc 20431. Department of economics, duke university, durham, nc. Federal reserve banks federal reserve bank of minneapolis. He is on leave from the university of houston, where he is the m. Economics of university of houston the texas tribune. Reprinted in recent developments in the economics of structural change, the international library of critical writings in economics, edited by keimu yi, cheltenham. Please take a look at commonly asked questions about the government salaries explorer.
The texas tribune obtained this information under the texas public information act. I also thank erhan artuc, joaquin blaum, jonathan eaton, federico esposito, sharat ganapati, matthew grant, james harrigan, ana herrera, nuno limao, sungho noh, lindsay oldenski, tommaso porzio, peter schott, john shea, meredith startz, daniel trefler, yujung whang, chong xiang, kei mu yi, and jing zhang for helpful comments. For a published version of this report, see david hummels, jun ishii, and kei mu yi, the nature and growth of vertical specialization in world trade, journal of international economics 54, no. Economics department, university of houston 3623 cullen blvd, houston, tx 772045019 phonefaxemail. Using inputoutput tables from 10 oecd and four emerging market countries we calculate that vertical specialization accounts for 21% of these countries exports, and grew almost 30% between 1970 and 1990. The striking growth in the trade share of output is one of the most important developments in the world economy since world war ii. The trade comovement problem in international macroeconomics. First, the growth is generally thought to have been generated by falling tariff barriers worldwide.
The department of economics, nus has an established reputation as one of the largest and leading departments of economics in the asiapacific region. Goldberg is published by university of chicago press. International finance and macroeconomics, international trade and investment we survey recent literature on the causes of the collapse in international trade during the 20082009 global recession. Keimu yi at university of houston government salaries.
This database presents information as the entities provide it, with the exception of aggregations and visualizations created by the tribune. The federal reserve bank of minneapolis has named dr. Journal of political economy chicago journals the university of. A large empirical literature finds that there is too little international trade and too much intranational trade to be rationaliz. Can multistage production explain the home bias in trade. Keimu yi federal reserve bank of minneapolis minneapolis fed. He has also been employed at the federal reserve bank of new york and at rice university. Michelle connolly and kei mu yi1 september 17, 2008 1preliminary and incomplete. The nature and growth of vertical specialization in world trade, journal of international economics 541. Kenneth singleton, naotaka sugawara, hui tong, kamil yilmaz, kei mu yi, boyang zhang, tianli zhao, and many colleagues and participants at seminars and conferences for useful. How much of south koreas growth miracle can be explained by trade policy. The federal reserve bank of dallas established the globalization institute in 2007 for the purpose of better understanding how the process of deepening economic integration between the countries of the world, or globalization, alters the environment in which u. Yi was employed by the federal reserve bank of minneapolis where he served as a special policy advisor to the president. It presents by theme a selection of the most important articles across the entire spectrum of economics.
But tariff barriers have decreased by only about 11 percentage points since the early. Can vertical specialization explain the growth of world trade. Applied microeconomics, development economics, labor economics, entrepreneurship. Keimu yi appointed to be a research associate at the. Anderson professor of economics at uh, has been appointed as of may 1, 2016 to be a research associate at the national bureau of economic research nber. This piece focuses on research that investigates the causes and consequences of structural change with either theoretical or calibrated models, mindfully referring to some of the most.
The economics department is pleased to announce the. Global value chains and inequality with endogenous labor supply, journal of international economics, vol 115, pages 223241. To treat covid19s economic impact, start by keeping the. Department of economics, duke university verified email at duke. Bank for international settlements, annual economic report, june 2019. Demand spillovers and the collapse of trade in the global recession. The new york fed offers the central banking seminar and several specialized courses for central bankers and financial supervisors. How much of south koreas growth miracle can be explained. Can vertical specialization explain the growth of world. Prior to coming to houston, i held positions with the federal reserve banks of new york, philadelphia, and minneapolis. Department of economics university of houston 3623 cullen blvd. Income and substitution effects of international financial integration.525 313 1081 1441 128 990 543 1102 767 184 1091 1051 153 1414 1375 942 710 573 512 750 570 1143 82 377 115 1035 162 896 920 573 744 1176 65 909 461