This paper uses three models of a small open economy to analyze the effects of terms of trade and exchange rate changes (i.e. devaluations) on labor market adjustment. First, a three goods (exportables, importables, non tradables), four factors model is developed and used to investigate how an exogenous worsening of the international terms of trade affect labor allocation and wages. Second, a more traditional three goods, two factors model is used...
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INFORMATION
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1986/11/30
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Document de travail départemental
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DRD334
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1
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1
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2010/07/01
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Terms of trade, exchange rates and labor markets adjustment in developing countries
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minimum wage
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