This paper adapts a more general yet standard global model to investigate international effects of wage regulation and of the Asian emergence. The Davis result that European unemployment raises the wage in the US is supported, though the generalisations in our model greatly weaken it. By contrast the Asian emergence is found to confer on the northern economies a terms of trade gain and overall economic expansion. The effect is to reduce, rather than increase, European unemployment even while it raises European wage inequality.
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Paper provided by Australian National University - Department of Economics in its series Papers with number
367.
Length: 20 pages Date of creation: 1999 Date of revision: Handle: RePEc:fth:aunaec:367
Contact details of provider: Postal: THE AUSTRALIAN NATIONAL UNIVERSITY, DEPARTMENT OF ECONOMICS, RESEARCH SCHOOL of PACIFIC STUDIES, RESEARCH SCHOOL OF SOCIAL SCIENCES, G.P.O. 4, CANBERRA ACT 2601 AUSTRALIA..O. BOX 4 CANBERRA 2601 AUSTRALIA. Web page: http://economics.anu.edu.au/economics.htm More information through EDIRC
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Find related papers by JEL classification: F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
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