Job Creation, Job Destruction, and International Competition Michael W. Klein, Scott Schuh, and Robert K. Triest First Chapter | Table of Contents 201 pp. 2003 $40.00 cloth 978-0-88099-272-5 $17.00 paper 978-0-88099-271-8 The authors present a picture of how the effects of international trade on employment in U.S. manufacturing industries vary widely. They explore the labor-market dynamics and adjustment costs associated with international factors, particularly the way fluctuations in exchange rates, overseas economic activity, and the altering of trade restrictions contribute to churning—the simultaneous job creation among some firms and job destruction among others. This effort produces insights that go beyond economy-wide or even sector-wide analyses of the effects of free trade. The documentation of the disparate effects between and even within narrowly defined industries shows that churning characterizes the labor markets for manufacturing industries, and that changes in international factors have a much larger and more complex impact on labor markets than was previously thought. |