The Asian Recession and Northern Labour Markets
AbstractThe Asian recession saw an increase in the volume of mainly manufactured Asian exports. Other things equal, this would have disadvantaged the labour intensive end of northern (mainly USA and EU) manufacturing and hence the northern manufacturing workforce. Central to the crisis, however, was a redirection of investment away from Asia to the north, raising northern aggregate demand and hence employment in northern services. This paper examines the magnitudes of these two effects in a broader analysis of the real impacts of the Asian recession that is grounded in a global general equilibrium framework. Northern workers are found to be net beneficiaries in both the short and medium run. Copyright � 2004 Economic Society of Australia..
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Bibliographic InfoArticle provided by The Economic Society of Australia in its journal The Economic Record.
Volume (Year): 80 (2004)
Issue (Month): 248 (03)
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Other versions of this item:
- Yang, Y. & Tyers, R., 1999. "The Asian Recession and Northern Labour Markets," Papers 372, Australian National University - Department of Economics.
- Yang, Y. & Tyers, R., 1999. "The Asian Recession and Northern Labour Markets," ANU Working Papers in Economics and Econometrics 1999-372, Australian National University, College of Business and Economics, School of Economics.
- J64 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Unemployment: Models, Duration, Incidence, and Job Search
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
- E00 - Macroeconomics and Monetary Economics - - General - - - General
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