UCL Department of Economics


Gorman Lecture 2: Trade and Informality in the Presence of Labor Market Frictions and Regulations

17 May 2022, 6:00 pm–7:30 pm

Penny Goldberg

As part of the Gorman Lecture series, Penny Goldberg from Yale University will be speaking at this event. Established in 2001, the Gorman Lectures are co-sponsored by UCL and Princeton University Press, and are held annually in honor of the influential economist William Moore "Terence" Gorman. Two lectures are given by a different leading senior economist each year, across different fields in economics. For the past few years, UCL has also organized a conference around the Gorman lectures that showcases exciting research by the next generation of scholars in the field.

Event Information

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kalina Manova

A substantial share of economic activity in many emerging and developing economies is informal, meaning that it is invisible to the government. Yet, the informal sector is nearly absent from theoretical and empirical work in International Trade and Economics more generally. The two lectures will explore informality, both its causes and its implications for growth, welfare and inequality in an open economy. The first lecture will define informality; present several stylized facts; discuss existing work and views regarding the role of informality; and draw parallels between the informal sector and the gig economy.  The second lecture will focus on the interplay of trade and informality. It will explore how openness affects informality as well as how the presence of an informal sector affects predictions of standard trade models.  More information to follow.