Table 1 Effects of shocks on... | Emerald Publishing

Table 1

Effects of shocks on manufacturing

Effects on	Technology shock	Trade shock	Domestic demand shock
Effects on	$θ_{m} - θ_{n} > 0$	$d x < 0$	Domestic demand shock
(1) Closed economy
Employment share	–	–	–
Real output share	+	–	–

Effects on	Technology shock	Trade shock	Domestic demand shock
(1) Closed economy
Employment share	–	–	–
Real output share	+	–	–

Effects on	Technology shock	External price shock	Domestic demand shock
Effects on	$θ_{m} - θ_{n} > 0$	$P m < 0$	Domestic demand shock
(2) Small open economy
Employment share	+	–	0
Real output share	+	–	0

Effects on	Technology shock	External price shock	Domestic demand shock
(2) Small open economy
Employment share	+	–	0
Real output share	+	–	0

Note(s): θ_m and θ_n: productivity of manufacturers and non-manufacturers, respectively; dx: Net exports of manufactured goods; and Pm: Prices of manufactured goods

Source(s): Rodrik (2016)

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