The United States Manufacturing Sector

MISSING IMAGE

Material Information

Title:
The United States Manufacturing Sector Trade Outcomes and Labor Market Dynamics during the Financial Crisis of 2008-2009
Physical Description:
1 online resource (212 p.)
Language:
english
Creator:
Lynch, Bryan J
Publisher:
University of Florida
Place of Publication:
Gainesville, Fla.
Publication Date:

Thesis/Dissertation Information

Degree:
Doctorate ( Ph.D.)
Degree Grantor:
University of Florida
Degree Disciplines:
Economics
Committee Chair:
DINOPOULOS,ELIAS
Committee Co-Chair:
HAMERSMA,SARAH ELLEN
Committee Members:
BERG,SANFORD V
SELDEN,ZACHARY ALAN

Subjects

Subjects / Keywords:
inequality -- technology -- trade
Economics -- Dissertations, Academic -- UF
Genre:
Economics thesis, Ph.D.
bibliography   ( marcgt )
theses   ( marcgt )
government publication (state, provincial, terriorial, dependent)   ( marcgt )
born-digital   ( sobekcm )
Electronic Thesis or Dissertation

Notes

Abstract:
This dissertation examines the effects of the financial crisis on the trade outcomes of the United States manufacturing sector and how these outcomes in turn affected the labor market. Utilizing two data sets based on the North American Industry Classification System, I first analyze several competing explanations for the Great Trade Collapse. Separating the data by type of manufacturer and direction of trade and after conducting specification tests, I find that financial liquidity consistently has the largest impact on trade flows of all types. Inventory adjustments have a large impact on durable manufacturers and import flows. Feedback effects through loose labor markets and global supply chains became an important factor during the crisis. Considering the consequences of the trade collapse on worker outcomes in the manufacturing sector, I provide a more recent evaluation of the competing hypotheses of skill biased technical change and trade as the drivers behind the increasing skill premium observed in this sector. After controlling for sector and year effects and once again specification testing, I find almost no evidence that higher levels of capital investment correlate with higher inequality between skilled and unskilled workers. Only weak evidence is found for such a relationship in durable manufacturers. Exports to developed countries have a strong negative effect on the skill premium. Trade with developing nations has statistically but economically insignificant effects on inequality. I also estimate the output and wage elasticities of substitution, along with some novel trade elasticities of substitution. I find substitutability between output and skill, low levels of substitutability between different types of labor, and an increase in the sensitivity of relative employment to trade flows during the crisis at the expense of domestic sales and the factor price of labor.
General Note:
In the series University of Florida Digital Collections.
General Note:
Includes vita.
Bibliography:
Includes bibliographical references.
Source of Description:
Description based on online resource; title from PDF title page.
Source of Description:
This bibliographic record is available under the Creative Commons CC0 public domain dedication. The University of Florida Libraries, as creator of this bibliographic record, has waived all rights to it worldwide under copyright law, including all related and neighboring rights, to the extent allowed by law.
Statement of Responsibility:
by Bryan J Lynch.
Thesis:
Thesis (Ph.D.)--University of Florida, 2014.
Local:
Adviser: DINOPOULOS,ELIAS.
Local:
Co-adviser: HAMERSMA,SARAH ELLEN.
Electronic Access:
RESTRICTED TO UF STUDENTS, STAFF, FACULTY, AND ON-CAMPUS USE UNTIL 2016-05-31

Record Information

Source Institution:
UFRGP
Rights Management:
Applicable rights reserved.
Classification:
lcc - LD1780 2014
System ID:
UFE0046463:00001