These two capture the difference between the trade-affected concentrated and the trade-affected competitive industries.
And activity in traded industries is highly geographically concentrated, and consequently traded quite intensively within the domestic American market.So why doesn't that show up in Mr Krugman's data?
The bank sold "a staggering volume of these swaps in a concentrated period," the trading commission said.
Comparing the wage gap (female employment) difference between concentrated industries that were trade impacted and those that were not, gives both the direct impact of lowering trade barriers, and the indirect impact through its effect on increased competition.
Privatization of the economy began in 1990, but by the early 21st century only about one-third of output was derived from private production, which was largely concentrated in agriculture, retail trade, and services.
In concentrated industries that were trade affected however, the opposite appears to be the case as the positive and significant coefficients on the interaction term in specifications (2), (3), (7) and (9) imply.
Kongar (2005), found that female share in low-wage production employment declined in the more trade affected, concentrated industries in the USA (no significant effect on the overall share of female employment), and argued that this decline is itself a plausible explanation for the reduction in the gender wage gap found by Black and Brainerd (2004).
What is reviving in America is the old economy that was unsustainable -- Gilded Age inequality, debilitating trade deficits, concentrated and highly leveraged banks, and a declining middle class.
Trading remains concentrated in top-tier names such as online bookseller Amazon.com and leading portal Yahoo!
Hence any observed change in concentrated firms' discrimination against women after trade liberalization can be attributed to the increased competitive pressures from international trade.
