NAFTA Numbers: Cheap Calculations

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Philip Levy has a nice primer on NAFTA for those not familiar with the fact that trade affects the composition, not the number, of jobs in an economy. And he lucidly explains the calculations driving the “million jobs lost” estimates. Of course, this was known fifteen years ago, sheesh.

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One Response to “NAFTA Numbers: Cheap Calculations”

  1. Jim Says:

    I wasn’t clear after reading Levy’s piece whether the statement that trade doesn’t affect the number of jobs comes from trade theory or is more a matter of “because the Fed won’t let it affect the number of jobs”, which is obviously different.

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