General-equilibrium implications of international product-market competition for jobs and wages

This paper extends the insight that trade increases international product-market competition to show that in a world with an endogenous natural rate of unemployment, countries can benefit through a decline in the natural rate. When the number of firms in the integrated world market is greater than t...

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Main Author: HOON, Hian Teck
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2001
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Online Access:https://ink.library.smu.edu.sg/soe_research/94
https://doi.org/10.1093/oep/53.1.138
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spelling sg-smu-ink.soe_research-10932023-06-21T03:31:07Z General-equilibrium implications of international product-market competition for jobs and wages HOON, Hian Teck This paper extends the insight that trade increases international product-market competition to show that in a world with an endogenous natural rate of unemployment, countries can benefit through a decline in the natural rate. When the number of firms in the integrated world market is greater than the number of firms in each economy in autarky, all trading nations in a world of identical factor proportions experience a decline in equilibrium unemployment. When factor proportions differ, equilibrium unemployment must fall in the labor-abundant country but may rise or decline in the capital-abundant country. 2001-01-01T08:00:00Z text https://ink.library.smu.edu.sg/soe_research/94 info:doi/10.1093/oep/53.1.138 https://doi.org/10.1093/oep/53.1.138 http://creativecommons.org/licenses/by-nc-nd/4.0/ Research Collection School Of Economics eng Institutional Knowledge at Singapore Management University Economics International Economics
institution Singapore Management University
building SMU Libraries
continent Asia
country Singapore
Singapore
content_provider SMU Libraries
collection InK@SMU
language English
topic Economics
International Economics
spellingShingle Economics
International Economics
HOON, Hian Teck
General-equilibrium implications of international product-market competition for jobs and wages
description This paper extends the insight that trade increases international product-market competition to show that in a world with an endogenous natural rate of unemployment, countries can benefit through a decline in the natural rate. When the number of firms in the integrated world market is greater than the number of firms in each economy in autarky, all trading nations in a world of identical factor proportions experience a decline in equilibrium unemployment. When factor proportions differ, equilibrium unemployment must fall in the labor-abundant country but may rise or decline in the capital-abundant country.
format text
author HOON, Hian Teck
author_facet HOON, Hian Teck
author_sort HOON, Hian Teck
title General-equilibrium implications of international product-market competition for jobs and wages
title_short General-equilibrium implications of international product-market competition for jobs and wages
title_full General-equilibrium implications of international product-market competition for jobs and wages
title_fullStr General-equilibrium implications of international product-market competition for jobs and wages
title_full_unstemmed General-equilibrium implications of international product-market competition for jobs and wages
title_sort general-equilibrium implications of international product-market competition for jobs and wages
publisher Institutional Knowledge at Singapore Management University
publishDate 2001
url https://ink.library.smu.edu.sg/soe_research/94
https://doi.org/10.1093/oep/53.1.138
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