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Growth, Trade and Unemployment

Author

Listed:
  • Murat, Marina

    (Università di Modena e Reggio Emilia, Facoltà di Economia)

Abstract

How are countries’ long run growth rates and employment levels affected by the international specialization of production? This paper presents an endogenous growth model where goods are produced in “modern” and “mature” sectors, which differ in the rate of knowledge accumulation and in the degree of inputs’ substitutability. The services of labor are crucial for producing the modern goods, whereas in the traditional industries workers are gradually replaced by capital. With trade, economies specializing in the modern productions have full employment and high growth rates, while countries specializing in the mature industries experience low growth and steady-state unemployment.

Suggested Citation

  • Murat, Marina, 2002. "Growth, Trade and Unemployment," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 55(2), pages 155-176.
    • Handle: RePEc:ris:ecoint:0187
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    More about this item

    JEL classification:

    • D20 - Microeconomics - - Production and Organizations - - - General
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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