Review of Radical Political Economics, Ahead of Print.
Archive for category: URPE
Review of Radical Political Economics, Ahead of Print.
The Chinese government has proposed a new development model called Dual Circulation, which, we argue, is a response to the upsurge of trade protectionism in recent years, as well as an acceleration of China’s long-planned restructuring of its economy. Our input-output analysis reveals the inferior global distributional position of China and the dire consequences it faces from a counterfactual US-China trade decoupling. Specifically, China on average transferred out about 9 percent of its abstract labor during 2010–14, and it stands to lose 2.5 percentage points in its growth rate and over 10 million jobs if the United States and China completely transfer their bilateral trade to other partners.JEL classification: B51, O24, D57
The Chinese government has proposed a new development model called Dual Circulation, which, we argue, is a response to the upsurge of trade protectionism in recent years, as well as an acceleration of China’s long-planned restructuring of its economy. Our input-output analysis reveals the inferior global distributional position of China and the dire consequences it faces from a counterfactual US-China trade decoupling. Specifically, China on average transferred out about 9 percent of its abstract labor during 2010–14, and it stands to lose 2.5 percentage points in its growth rate and over 10 million jobs if the United States and China completely transfer their bilateral trade to other partners.JEL classification: B51, O24, D57
Review of Radical Political Economics, Ahead of Print.
In a two-sector model with circulating capital, Laibman (1982) shows that a capital-using and labor-saving technical change in the consumption goods sector lowers the rate of profit under the assumption of constant rate of exploitation. This paper generalizes his finding in a two-department multi-sector model that considers the capital advanced.JEL Classification: B51, C67
In a two-sector model with circulating capital, Laibman (1982) shows that a capital-using and labor-saving technical change in the consumption goods sector lowers the rate of profit under the assumption of constant rate of exploitation. This paper generalizes his finding in a two-department multi-sector model that considers the capital advanced.JEL Classification: B51, C67
Review of Radical Political Economics, Ahead of Print.
This paper investigates the turbulent behavior that might exist under a national average rate of profit. We use a database—ORBIS—that allows our investigation to start from the level of the firm, with data from 2007 to 2014. A comparison between the United States and China organizes the statistical description of the rates of profit in those countries. Three issues are investigated: the trajectories of the national average rate of profit and their disaggregation; the distribution of different rates of profit by firms, economic sectors, and manufacturing sectors, and the stability of those distributions over time.
This paper investigates the turbulent behavior that might exist under a national average rate of profit. We use a database—ORBIS—that allows our investigation to start from the level of the firm, with data from 2007 to 2014. A comparison between the United States and China organizes the statistical description of the rates of profit in those countries. Three issues are investigated: the trajectories of the national average rate of profit and their disaggregation; the distribution of different rates of profit by firms, economic sectors, and manufacturing sectors, and the stability of those distributions over time.