Unemployment in Open Economies: A Search Theoretic Analysis

ISBN-13: 9783540411611 / Angielski / Miękka / 2000 / 228 str.

Pia Weib; Pia Weiss; P. Weib

Opis

Unemployment in Open Economies studies how domestic labour markets are influenced by a changing international environment. It combines the recently developed search and matching models with standard models of international trade. By this method, the reader gains new insights in the ongoing debate on how globalisation can affect unemployment.
The author develops a collection of models showing that globalisation can be one reason for long-known and well-documented phenomenons on the labour market. She puts emphasis on country differences by studying the role of individual risk behavior and the wage setting on the unemployment level.

Spis treści

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.- Bibliography.- Author Index.- Subject Index