Trade, Capital Accumulation and Structural Unemployment: An Empirical Study of the Singapore Economy

• Main Authors: KEE, Hiau Looi, HOON, Hian Teck
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2005
• Subjects: Endogenous natural rate of unemployment; Wage bargaining; Specific-factors model; Stolper-Samuelson effect; Rybczynski effect; Asian Studies; Growth and Development; Labor Economics
• Online Access: https://ink.library.smu.edu.sg/soe_research/1198; https://ink.library.smu.edu.sg/context/soe_research/article/2197/viewcontent/Trade_Capital_Accumulation_and_Structural_Unemployment_pp.pdf
• Institution: Singapore Management University

This paper studies the factors responsible for the secular decline of Singapore's unemployment rate over the period 1966-2000 in an environment of low and stable inflation rates. We introduce wage bargaining and unions into a specific-factors, two-sector economy with an export sector and a non-...