Pia Weiß

Unemployment in Open Economies

A Search Theoretic Analysis

• Broschiertes Buch

Produktbeschreibung

Globalisation is normally associated with expanded international trade in goods and services. In view ofhigh and persistent unemploymentin European countries during the last two decades opponents of globali sation argue that increased import competition, particularly from low wage countries,influences the domestic labour markets adversely. How ever, the advocates of open markets stress that this is a misconception about the impact offoreign trade;their view is that the employment ef fects depend to a large extent on the degree offlexibility ofthe domestic labour markets. This debate has induced Pia WeiB to examine the unemployment prob lem in an open economy within a rigorously theoretical framework. The focus is on the mismatch between labour demand andlabour supply. For that purpose, new modelsin labour economics concerningthe searchand matching theory are used. It is shown that an increased competition on the world goods markets leads to an increase inthe industrialised coun try's unemployment rate only ifthe wages are not fully flexible. At the same time, it is demonstrated that changes on the world markets may help to explain the observed development ofthe unemployment vacancy ratio. The study provides valuable insights which might enrich the subjects taught at undergraduate courses. Scholars interested in the interaction of foreign trade and employment may find in the study suggestions for future research. The research forthis studyhasbeenundertakenatthe Institutfur Wirt- VIII Preface schaftspolitik (Institute of Political Economy), University of Cologne.

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Produktdetails

• Lecture Notes in Economics and Mathematical Systems 496
• Verlag: Springer / Springer Berlin Heidelberg / Springer, Berlin
• Artikelnr. des Verlages: 978-3-540-41161-1
• Softcover reprint of the original 1st ed. 2001
• Seitenzahl: 244
• Erscheinungstermin: 16. November 2000
• Englisch
• Abmessung: 235mm x 155mm x 14mm
• Gewicht: 365g
• ISBN-13: 9783540411611
• ISBN-10: 3540411615
• Artikelnr.: 22924332

Inhaltsangabe

1 Introduction.- 2 Stylised Facts.- 2.1 Matching on the Labour Market and Unemployment.- 2.2 Trade and the Terms of Trade.- 3 A Two-Sector Search Model of an Open Economy without Capital.- 3.1 The Reference Model of Risk-Neutral Individuals.- 3.2 International Trade and Exchange Rate Shocks in the Medium Run.- 3.3 The Evolution to the New Equilibrium - The Adjustment Process.- 3.4 The Economy with Risk-Neutral Individuals and Individual Bargaining.- 3.5 Appendix A.- 4 The Generalised Model: An Open Economy with Risk- Averse Individuals.- 4.1 Individual Bargaining with Risk-Averse Individuals.- 4.2 The Effects of a Terms-of-Trade Shock on an Economy with Risk-Averse Individuals.- 4.3 The Economy with Risk-Averse Individuals and Individual Bargaining.- 4.4 Appendix B.- 5 An Open Economy with Industry-Level Bargaining.- 5.1 Trade Unions in Economic Models.- 5.2 Wages under Collective Bargaining.- 5.3 Trade Unions in an Open Economy.- 5.4 The Economy with Risk-Neutral Individuals and Collective Bargaining.- 5.5 An Illustrative Numerical Example of Risk Neutrality, Risk Aversion, and Collective Bargaining.- 5.6 Appendix C.- 6 A Simple Matching Model of a One-Sector Economy with Capital Accumulation.- 6.1 The Individual's and Firm's Decision Problem.- 6.2 The Equilibrium with Capital Accumulation - The Long-Run Perspective.- 6.3 Appendix D: The Wage Agreement.- 7 Summary.- List of Symbols.- List of Figures.- List of Tables.- Author Index.