The Impact of Intra-Industry Trade on the Natural Rate of Unemployment in Two Simple Models
This paper builds in two popular versions of the theory of equilibrium unemployment into a world economy engaged purely in intraindustry trade of differentiated products. We show that free trade through increasing the range of varieties available for consumption and expanding economies of scale lead...
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2003
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sg-smu-ink.soe_research-13912010-09-23T05:48:03Z The Impact of Intra-Industry Trade on the Natural Rate of Unemployment in Two Simple Models HOON, Hian Teck This paper builds in two popular versions of the theory of equilibrium unemployment into a world economy engaged purely in intraindustry trade of differentiated products. We show that free trade through increasing the range of varieties available for consumption and expanding economies of scale leads to a lowering of the equilibrium rates of unemployment in all participating countries. Thus, we demonstrate channels through which international trade alleviates the problem of high unemployment in each country engaged in pure intraindustry trade. 2003-01-01T08:00:00Z text https://ink.library.smu.edu.sg/soe_research/392 info:doi/10.1007/bf01000743 Research Collection School Of Economics eng Institutional Knowledge at Singapore Management University Economics |
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Singapore Management University |
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SMU Libraries |
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Asia |
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Singapore Singapore |
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InK@SMU |
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English |
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Economics |
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Economics HOON, Hian Teck The Impact of Intra-Industry Trade on the Natural Rate of Unemployment in Two Simple Models |
| description |
This paper builds in two popular versions of the theory of equilibrium unemployment into a world economy engaged purely in intraindustry trade of differentiated products. We show that free trade through increasing the range of varieties available for consumption and expanding economies of scale leads to a lowering of the equilibrium rates of unemployment in all participating countries. Thus, we demonstrate channels through which international trade alleviates the problem of high unemployment in each country engaged in pure intraindustry trade. |
| format |
text |
| author |
HOON, Hian Teck |
| author_facet |
HOON, Hian Teck |
| author_sort |
HOON, Hian Teck |
| title |
The Impact of Intra-Industry Trade on the Natural Rate of Unemployment in Two Simple Models |
| title_short |
The Impact of Intra-Industry Trade on the Natural Rate of Unemployment in Two Simple Models |
| title_full |
The Impact of Intra-Industry Trade on the Natural Rate of Unemployment in Two Simple Models |
| title_fullStr |
The Impact of Intra-Industry Trade on the Natural Rate of Unemployment in Two Simple Models |
| title_full_unstemmed |
The Impact of Intra-Industry Trade on the Natural Rate of Unemployment in Two Simple Models |
| title_sort |
impact of intra-industry trade on the natural rate of unemployment in two simple models |
| publisher |
Institutional Knowledge at Singapore Management University |
| publishDate |
2003 |
| url |
https://ink.library.smu.edu.sg/soe_research/392 |
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1770569148005351424 |