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| Tekijä: | Hoon, H. T. |
| Otsikko: | Adjustment of wages and equilibrium unemployment in a Ricardian global economy |
| Lehti: | Journal of International Economics
2001 : JUN, VOL. 54:1, p. 193-209 |
| Asiasana: | Pay Unemployment World economy |
| Vapaa asiasana: | Incentive wage |
| Kieli: | eng |
| Tiivistelmä: | This 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 state in job-holding, and, in general equilibrium, leads to hiher real earnings and lower equilibrium unemployment. |
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