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DTSTAMP:20250311T103923
DTSTART;TZID=America/Detroit:20250424T113000
DTEND;TZID=America/Detroit:20250424T130000
SUMMARY:Workshop / Seminar:An 'Austrian' Model of Global Value Chains
DESCRIPTION:I develop a stylized model of multi-stage production in which the time length of each stage is endogenously determined. Letting the production process mature for a longer period of time increases labor productivity\, but it comes at the cost of higher working capital needs for firms. Under autarky\, countries with lower interest rates feature longer production processes\, higher labor productivity\, and higher wages. In a free trade equilibrium\, countries with lower interest rates specialize in relatively ‘time intensive’ stages in global value chains (GVCs). Yet\, if free trade brings about interest rate equalization\, wages are also equalized and the pattern of trade is instead shaped by capital intensity and capital abundance\, regardless of the time intensity of the various stages. Reductions in trade costs lead to patterns of specialization associated with higher amounts of vertical specialization in world trade. A worldwide decline in interest rates similarly fosters an increase in the share of GVC trade in world trade. The framework also sheds light on the role of trade credit and trade finance in shaping international specialization.
UID:129877-21864719@events.umich.edu
URL:https://events.umich.edu/event/129877
CLASS:PUBLIC
STATUS:CONFIRMED
CATEGORIES:Economics,International,seminar
LOCATION:Lorch Hall - 201
CONTACT:
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DTSTAMP:20250424T112017
DTSTART;TZID=America/Detroit:20250424T114500
DTEND;TZID=America/Detroit:20250424T131500
SUMMARY:Workshop / Seminar:Advisor Connections Winter 2025
DESCRIPTION:Welcome to the \"Advisor Connections\" training program\, designed especially for student organization advisors. In the workshops\, you will build the necessary skills to connect effectively with your students as your organization's advisor\, establish clear lines of communication\, and develop/optimize the partnership between you and your student group.
UID:132642-21873992@events.umich.edu
URL:https://events.umich.edu/event/132642
CLASS:PUBLIC
STATUS:CONFIRMED
CATEGORIES:Sessions
LOCATION:
CONTACT:
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