Episode Details

MIT 14.04 Intermediate Microeconomic Theory, Fall 2020
Instructor: Prof. Robert Townsend

View the complete course: https://ocw.mit.edu/courses/14-04-intermediate-microeconomic-theory-fall-2020/
YouTube Playlist: https://www.youtube.com/watch?v=XSTSfCs74bg&list=PLUl4u3cNGP63wnrKge9vllow3Y2OOOKqF

In the US, the China shock refers to increased imports from China of relatively low-priced manufactured goods. This has an impact that varies locally, namely on US manufacturers who produce the same goods and cannot complete. Documented also is the adverse impact on wage labor, due to layoffs. But there are surprises for outcomes and mitigating mechanisms, previously undocumented movements in state-level trade balances, current accounts, and remittance flows.

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