Factor Price Equalisation and Trade Patterns with Unemployment
AbstractThis paper extends the technique of integrated equilibrium analysis to con - sider a trading world with unemployment due to a wage floor. Unlike previous models with wage floors, world goods prices and patterns of production are endogenous. This more general analysis of a trading world allows questions of the effect of unemployment on the likelihood of factor price equalisation and the factor content of trade to be addressed. Results are relevant to the recent debates over trade and wage inequality/unemployment, to empirical tests of factor proportions theories of trade, and to the international harmonisation of labour standards.
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Bibliographic InfoArticle provided by Center for Economic Integration, Sejong University in its journal Journal of Economic Integration.
Volume (Year): 15 (2000)
Issue (Month): ()
Integrated equilibrium; Unemployment; Minimum wage;
Find related papers by JEL classification:
- F11 - International Economics - - Trade - - - Neoclassical Models of Trade
- F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
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