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Technical Change In A Model With Fair Wages And Unemployment

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VASSILIS T. RAPANOS
Abstract

The purpose of this paper is to reconsider the results of the standard neoclassical theory of international trade regarding the effects of technical change. We adopt a fair wage hypothesis, by postulating a work effort function, which depends on the relative returns to labor and capital, and the level of unemployment. Our analysis shows that the results of the standard analysis, initiated by Findlay and Grubert, may be altered considerably. Technical change may significantly affect involuntary unemployment, which is endogenously determined by the system, in contrast with most of the studies based on the standard model. [F11, O33]

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Article provided by Korean International Economic Association in its journal International Economic Journal.

Volume (Year): 10 (1996)
Issue (Month): 4 (December)
Pages: 99-121
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Handle: RePEc:taf:intecj:v:10:y:1996:i:4:p:99-121

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  1. Ronald Jones, 1970. "The Role of Technology in the Theory of International Trade," NBER Chapters, in: The Technology Factor in International Trade, pages 73-94 National Bureau of Economic Research, Inc. [Downloadable!]
  2. Shapiro, Carl & Stiglitz, Joseph E, 1984. "Equilibrium Unemployment as a Worker Discipline Device," American Economic Review, American Economic Association, vol. 74(3), pages 433-44, June. [Downloadable!] (restricted)
  3. Akerlof, George A & Yellen, Janet L, 1990. "The Fair Wage-Effort Hypothesis and Unemployment," The Quarterly Journal of Economics, MIT Press, vol. 105(2), pages 255-83, May. [Downloadable!] (restricted)
  4. Neary, J Peter, 1978. "Dynamic Stability and the Theory of Factor-Market Distortions," American Economic Review, American Economic Association, vol. 68(4), pages 671-82, September. [Downloadable!] (restricted)
  5. Krueger, Alan B & Summers, Lawrence H, 1988. "Efficiency Wages and the Inter-industry Wage Structure," Econometrica, Econometric Society, vol. 56(2), pages 259-93, March. [Downloadable!] (restricted)
  6. Blinder, Alan S & Choi, Don H, 1990. "A Shred of Evidence on Theories of Wage Stickiness," The Quarterly Journal of Economics, MIT Press, vol. 105(4), pages 1003-15, November. [Downloadable!] (restricted)
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  7. Solow, Robert M., 1979. "Another possible source of wage stickiness," Journal of Macroeconomics, Elsevier, vol. 1(1), pages 79-82. [Downloadable!] (restricted)
  8. Brecher, Richard A, 1974. "Minimum Wage Rates and the Pure Theory of International Trade," The Quarterly Journal of Economics, MIT Press, vol. 88(1), pages 98-116, February. [Downloadable!] (restricted)
  9. Rivera-Batiz, Francisco L, 1982. "Nontraded Goods and the Pure Theory of International Trade with Equal Numbers of Goods and Factors," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 23(2), pages 401-09, June. [Downloadable!] (restricted)
  10. Beladi, Hamid & Naqvi, Nadeem, 1988. "Urban unemployment and non-immiserizing growth," Journal of Development Economics, Elsevier, vol. 28(3), pages 365-376, May. [Downloadable!] (restricted)
  11. Thaler, Richard H, 1989. "Interindustry Wage Differentials," Journal of Economic Perspectives, American Economic Association, vol. 3(2), pages 181-93, Spring. [Downloadable!] (restricted)
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