(25)--7.1国际经济学双语讲稿.docx
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1、Pl Our attention so far has been on the international flow of goods and services. However, some of the most dramatic changes in the world economy have been due to the international flow of factors of production, comprising labor and capital. Productive factors move when they are permitted to from na
2、tions where they are abundant (low productivity) to nations where they are scarce (high productivity). Productive factors flow in response to differences in returns (such as wages and yields on capital) as long as these are more than outweigh the cost of moving from one country to another. This sect
3、ion analyzes the international mobility of labor as a substitute for trade in labor intensive products.P2 &P3 Historically the United States has been a favorite target for international migration. Because of its vast inflow of migrants, the United States has been described as the melting pot of the
4、world. Table 7.1 indicates the volume of immigration to the United States from the 1820s to 2008. Western Europe was a major source of immigrants during this era, with Germany, Italy, and the United Kingdom among the largest contributors. In recent years, large numbers of Mexicans have migrated to t
5、he United States as well as people from Asia. Migrants have been motivated by better economic opportunities and noneconomic factors such as politics, war, and religion.P4 Although international labor movements can enhance the world economys efficiency, they are often restricted by government control
6、s. The United States, like most countries, limits immigration. Following waves of immigration at the turn of the century, the Immigration Act of 1924 was enacted. Besides restricting the overall flow of immigrants to the United States, the act implemented a quota that limited the number of immigrant
7、s from each foreign country.P5 We use a simple supply and demand model in figure 7.1 to illustrate the economics of labor migration. Assume the world consists of two countries, the United States and Mexico that are initially in isolation. The horizontal axes denote the total quantity of labor in the
8、 United States and Mexico, and the vertical axes depict the wages paid to labor. For each country, the demand schedule for labor is designated by the value of the marginal product (VMP) of labor. Also assume that both the United States and Mexico have a fixed labor supply.At first, supply and demand
9、 in the U.S. labor market determined wages higher than in Mexico. Suppose labor can move freely between Mexico and the United States and assume that migration is costless and occurs solely in response to wage differentials. Because U.S. wage rates are relatively high, there is an incentive for Mexic
10、an workers to migrate to the United States and compete in the U.S. labor market; this process will continue until the wage differential is eliminated.P6+P5 Mexican workers earn less than American workers, which means their productivity, or marginal product of labor, is lower. When Mexican workers im
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