主题：Global Value Chains and Welfare Gains
主讲人：Edwin L.-C. Lai，香港科技大学教授
时间：6月1日（周三）上午10:00-11:30
地点：线上（Zoom）
语言：英文
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摘要：
We build a two-sector general equilibrium model (with goods and services) with trade in intermediate/final goods/services, and input-output linkages, and then carry out counterfactual exercises to evaluate the impacts of the changes in the exogenous variables (such as technology stocks and trade costs) on gains from trade (GFT), competitiveness and welfare of countries. We carry out a set of accounting exercises and a set of policy exercises. In the accounting exercise, we estimate the impacts of global changes in each exogenous variable on the GFT, competitiveness and welfare of individual countries. In the policy exercise, we carry out counterfactuals to estimate the average impact of the change of each exogenous variable in individual country on its domestic GFT/competitiveness/welfare. First, we find that there is convergence in both technology stocks and trade costs. Second, by and large, global trade cost reduction and technological progress in a sector increase welfare, GFT and competitiveness of the sector across countries. Third, the intermediate goods sector is "more important" to welfare than the final goods sector, both in the sense that more welfare changes are attributed to the former and that the policy measures in the former have stronger impact than the latter. ?
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主讲人介绍：
Edwin L.-C. Lai is Professor of Economics at the Hong Kong University of Science and Technology since July 2009, and later jointly appointed as the Director of the Center for Economic Development as well as Professor in the Division of Public Policy. He was Senior Research Economist and Adviser at the Federal Reserve Bank of Dallas of the Federal Reserve System of the USA, from August 2007 to June 2009. Before that, he was Assistant Professor at Vanderbilt University, Associate Professor at City University of Hong Kong and Associate Professor at Singapore Management University.
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His main research areas are international economics, industrial organization, growth and internationalization of renminbi. Prof. Lai has published intensively and extensively on the topic of intellectual property protection in the international economy. He has published in American Economic Review, RAND Journal of Economics, International Economic Review, Journal of International Economics?and other leading economics journals.
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He is the author of the book One Currency, Two Markets: China’s Attempt to Internationalize the Renminbi, Cambridge, United Kingdom: Cambridge University Press (2021).
Professor Lai has been a consultant to the World Bank, visiting scholar/fellow with Boston University, Princeton University, Kobe University, CESifo (University of Munich), Hitotsubashi University and Hong Kong Institute for Monetary Research. He is Associate Editor of Review of International Economics (Wiley Publisher), a Fellow of the CESifo Research Network (U of Munich) and a board member of Asia-Pacific Trade Seminars (APTS) Group. He received his B.Sc. in engineering from University of Hong Kong and A.M. and Ph.D. in economics from Stanford University.