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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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2003
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| Online Access: | https://ink.library.smu.edu.sg/soe_research/392 |
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| Institution: | Singapore Management University |
| Language: | English |