Trade Imbalances, Export Structure and Wage Inequality
从理论和实证两方面研究贸易失衡如何影响国家出口结构和工资不平等，发现南北贸易顺差会提高两国出口技能密集度、技能相对需求和技能溢价，过去三十年的贸易失衡可能加剧了全球工资不平等。
We study, both theoretically and empirically, how trade imbalances affect the structure of countries' exports and wage inequality. We show that, in a Heckscher-Ohlin model with a continuum of goods, a Southern (Northern) trade surplus leads to an increase (reduction) in the average skill intensity of exports, in the relative demand for skills and in the skill premium in both countries. We provide robust support for the mechanism underlying these predictions using a large panel of countries observed over the past 30 years. Our results suggest that the large and growing North-South trade imbalances arisen over the last three decades may have exacerbated wage inequality worldwide.