Please use this identifier to cite or link to this item: https://doi.org/10.1016/S0022-1996(00)00084-2
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dc.titleAdjustment of wages and equilibrium unemployment in a Ricardian global economy
dc.contributor.authorHoon, H.T.
dc.date.accessioned2011-05-03T08:08:56Z
dc.date.available2011-05-03T08:08:56Z
dc.date.issued2001
dc.identifier.citationHoon, H.T. (2001). Adjustment of wages and equilibrium unemployment in a Ricardian global economy. Journal of International Economics 54 (1) : 193-209. ScholarBank@NUS Repository. https://doi.org/10.1016/S0022-1996(00)00084-2
dc.identifier.issn00221996
dc.identifier.urihttp://scholarbank.nus.edu.sg/handle/10635/22352
dc.description.abstractThis paper develops a dynamic Ricardian model of the world economy exhibiting endogenous wages and equilibrium unemployment. It is shown that international trade serves to give workers an increased stake in job-holding, and, in general equilibrium, leads to higher real earnings and lower equilibrium unemployment. Economic shocks emanating in one country affect the trading partner's equilibrium unemployment rate by shifting the terms of trade. The generality of the results are discussed along three dimensions: Replacing efficiency wages with bargaining in labor market; introducing role for market sizes and factor proportion differences; and introducing firm-specific training to generate dynamics. © 2001 Elsevier Science B.V. All rights reserved.
dc.description.urihttp://libproxy1.nus.edu.sg/login?url=http://dx.doi.org/10.1016/S0022-1996(00)00084-2
dc.sourceScopus
dc.subjectEquilibrium unemployment
dc.subjectIncentive wage
dc.subjectRicardian model
dc.typeArticle
dc.contributor.departmentECONOMICS
dc.description.doi10.1016/S0022-1996(00)00084-2
dc.description.sourcetitleJournal of International Economics
dc.description.volume54
dc.description.issue1
dc.description.page193-209
dc.identifier.isiut000169119600010
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