A three-goods model (importables, exportables, and nontradables) is used to analyze labor market adjustment to changes in the terms of trade and import tariffs for a small, open economy. First, a three-goods, four-factor model (labor, and capital specific to each sector) is developed and used to investigate how an exogenously generated change in a country's terms of trade affects labor allocation and wages in the short run. Next, a more traditional...
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INFORMATION
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1988/05/31
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Article de revue
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14176
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1
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1
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2010/07/01
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Terms of trade, tariffs, and labor market adjustment in developing countries
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minimum wage
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