Leseprobe
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International Trade with Equilibrium Unemployment
Carl Davidson, Steven J. Matusz
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Sozialwissenschaften, Recht, Wirtschaft / Wirtschaft
Beschreibung
While most standard economic models of international trade assume full employment, Carl Davidson and Steven Matusz have argued over the past two decades that this reliance on full-employment modeling is misleading and ill-equipped to tackle many important trade-related questions. This book brings together the authors' pioneering work in creating models that more accurately reflect the real-world connections between international trade and labor markets.
The material collected here presents the theoretical and empirical foundations of equilibrium unemployment modeling, which the authors and their collaborators developed to give researchers and policymakers a more realistic picture of how international trade affects labor markets, and of how transnational differences in labor markets affect international trade. They address the shortcomings of standard models, describe the empirics that underlie equilibrium unemployment models, and illustrate how these new models can yield vital insights into the relationship between international trade and employment. This volume also includes an indispensable general introduction as well as concise section introductions that put the authors' work in context and reveal the thinking behind their ideas.
Economists are only now realizing just how important these ideas are, making this book essential reading for researchers and students.
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Trade war, General equilibrium theory, Economic interventionism, Externality, Macroeconomics, Tax incidence, Recession, Employment, Marginal product, Monopolistic competition, Economic inequality, Export subsidy, Subsidy, Real versus nominal value (economics), Economic equilibrium, Trade preference, Matching theory (economics), Balance of trade, Liberalization, New trade theory, Capital loss, Trade barrier, Keynesian economics, World Trade Organization, Consumption tax, Economic impact analysis, Economic surplus, Earnings, Economy, Comparative advantage, Price index, Implicit contract theory, Price elasticity of demand, Market failure, International economics, Supply (economics), Marginal cost, Supply and demand, Marginal rate of technical substitution, Free trade, Multilateral trade negotiations, Wage insurance, Tariff, Monetary policy, Frictional unemployment, Natural rate of unemployment, Unemployment benefits, Factor price, Marginal product of labor, Pareto efficiency, Outsourcing, Competition (economics), Relative price, Economic cost, Wage, Deadweight loss, Unemployment, Gains from trade, Zero-profit condition, Cost curve, Income, Tax, Trade Adjustment Assistance, Market tightness, Export performance, Factor price equalization, Efficiency wage, Economics, Factor market, Unemployment in the United States