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美联储:要找到中国冲击后的相对收益增长,请查看上游和制造业以外(英文版)

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2026-01-23
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美联储:要找到中国冲击后的相对收益增长,请查看上游和制造业以外(英文版).pdf
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We find that US workers outside manuf acturing exhibit relative earnings increases after US trade liberalization with China. These relative gains cumulate over time as the beneficial effect of a worker’s upstream exposure—increased competition from China in input markets—more than offsets the detrimental impact of her own and downstream (customer) exposures. These relative gains are smaller for non-manufacturing workers with less ex ante firm tenure and lower initial earnings, and are absent


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