WASHINGTON, Jan. 24 (TNSRep) -- The Federal Reserve issued the following white paper (No. 2026-1431) in Jan. 2026 by Justin R. Pierce, Peter K. Schott and Cristina J. Tello-Trillo entitled "To Find Relative Earnings Gains After the China Shock, Look Upstream and Outside Manufacturing".

Here is the abstract:

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We find that US workers outside manufacturing exhibit relative earnings increases after US trade liberalization with China.