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Author : Donald R. Davis
Publisher : National Bureau of Economic Research
Published : 1996
ISBN-10 :
ISBN-13 :
Number of Pages : 30 Pages
Language : en
Keyword :
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Does European Unemployment Prop Up American Wages? Summary
Abstract: We consider trade between a flexible wage America and a rigid real wage Europe. In a benchmark case, a move from autarky to free trade doubles the European unemployment rate, while it raises the American unskilled wage to the high European level. Entry of the unskilled South to world markets raises unemployment in Europe. But Europe's commitment to the high wage completely insulates America from the shock. Immigration to America raises American income, but lowers European income dollar-for-dollar, while European unemployment rises one-for-one. We consider a stylized game of the choice of factor market institutions. Mitterand's Europe chooses a high minimum wage and Reagan's America chooses a flexible wage for the unskilled. Paradoxically, unskilled workers are worse off in Europe. Trade equalizes wages, but Europeans bear all of the unemployment required to sustain the high wage.Author : Donald R. Davis
Publisher : National Bureau of Economic Research
Published : 1996
ISBN-10 :
ISBN-13 :
Number of Pages : 30 Pages
Language : en
Keyword :
Read Online Does European Unemployment Prop Up American Wages? pdf
Download Does European Unemployment Prop Up American Wages? epub
Does European Unemployment Prop Up American Wages? Audiobook Download
Listen Does European Unemployment Prop Up American Wages? book
Download Does European Unemployment Prop Up American Wages? Audiobook
What is audiobook and how does it work?
Audiobooks are voice recordings of the text of a book that you listen to rather than read. Audiobooks can be exact word-for-word versions of books or abridged versions. You can listen to audiobooks on any smartphone, tablet, computer, home speaker system, or in-car entertainment system.
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