note on minimum wages, non-traded goods, terms of trade, welfare, and unemployment
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note on minimum wages, non-traded goods, terms of trade, welfare, and unemployment by Bharat R. Hazari

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Published by La Trobe University in Melbourne, Australia .
Written in English


  • Foreign trade and employment -- Mathematical models.,
  • Minimum wage -- Mathematical models.

Book details:

Edition Notes

Bibliography: leaf 12.

Statementby Bharat R. Hazari, and Pasquale M. Sgro.
SeriesEconomics discussion papers ;, no. 3/81, Economics discussion papers (Melbourne, Vic.) ;, no. 81/3.
ContributionsSgro, Pasquale M.
LC ClassificationsHD5710.7 .H39 1981
The Physical Object
Pagination12 leaves :
Number of Pages12
ID Numbers
Open LibraryOL3091134M
LC Control Number82193876

Download note on minimum wages, non-traded goods, terms of trade, welfare, and unemployment


The minimum wage, unlike most government transfer programs, lowered welfare in the s and s as measured by all commonly used welfare or inequality measures, including various Atkinson indexes, the Gini index, standard deviation of logarithms, and Size: KB. Terms of Trade vs. Relative Wages age skilled wa killed/Uns 6 0 elative Sk 5 8 Re 60 80 Terms of Trade (index =) Source: Authors. Downloadable (with restrictions)! We develop a simple and tractable two-sector search model featuring a non-traded sector and endogenous search unemployment to examine the impact of terms of trade shocks on unemployment. We show that changes in terms of trade will not only lead to employment reallocation across sectors, as in the traditional trade models, but, more importantly, impact upon. Both these papers build on the insight provided by Beladi and Batra () that non-traded goods can be important in establishing the impact of trade on the wages of skilled and unskilled labor.

This completes the specification of the model. 3. Results In this section, we examine the consequences of a change in the terms of trade on several variables;5 the relative prices of the non-traded goods, outputs, unemployment and welfare. The variation in the terms of trade is specified by varying Pu the price of the urban imported by: Terms of Trade Shocks and Endogenous Search Unemployment: A Two-Sector Model with Non-Traded Goods Article in Pacific Economic Review 19(2) . Gupta and Dutta () incorporated involuntary unemployment of both skilled and unskilled labour in a three-sector model with non-traded goods to understand the implications of trade. B) The larger the gap between the current market wage and the market clearing wage, greater will be the amount of unemployment. C) At wage rates above the market clearing wage rate, there is an excess demand for workers. D) At wage rates below the market clearing wage rate, there is an excess supply of workers.

The Minimum Wage and the Labor Market by Guillaume Rocheteau and Murat Tasci May 1, ISSN T he federal minimum wage was established in by the Fair Labor Standards Act. Initially set at 25 cents an hour, the wage has been raised peri-odically to refl ect changes in infl ation and productivity. From September to the begin-File Size: KB. FACTOR ACCUMULATION AND THE TERMS OF TRADE: APPLICATIONS TO THE ASIAN FINANCIAL CRISIS Fair wages, Urban Unemployment and Welfare in a Developing Economy An Elementary Proposition on Technical Progress and Non-traded Goods by Hamid Beladi;. unemployment doubled in the past year, there was a percent increase in unemployment, twice as many people are without work than was the case a year ago Discouraged workers are people who have looked for work in the past year but have given up looking because of the condition of the labor market. Another way of saying this is that the minimum wage is an intervention by the government that is meant to change the distribution of society’s resources. If unskilled workers are going to earn more, then this means they are obtaining more of the total resources available in an economy.