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Unemployment in Open Economies: A Search Theoretic Analysis

By (author) Pia WeiÃŸ

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Price: R 2,165.95

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Globalisation is normally associated with expanded international trade in goods and services. In view ofhigh and persistent unemploymentin European countries during the last two decades opponents of globali- sation argue that increased import competition, particularly from low- wage countries,influences the domestic labour markets adversely. How- ever, the advocates of open markets stress that this is a misconception about the impact offoreign trade;their view is that the employment ef- fects depend to a large extent on the degree offlexibility ofthe domestic labour markets. This debate has induced Pia WeiB to examine the unemployment prob- lem in an open economy within a rigorously theoretical framework. The focus is on the mismatch between labour demand andlabour supply. For that purpose, new modelsin labour economics concerningthe searchand matching theory are used. It is shown that an increased competition on the world goods markets leads to an increase inthe industrialised coun- try's unemployment rate only ifthe wages are not fully flexible. At the same time, it is demonstrated that changes on the world markets may help to explain the observed development ofthe unemployment vacancy ratio. The study provides valuable insights which might enrich the subjects taught at undergraduate courses. Scholars interested in the interaction of foreign trade and employment may find in the study suggestions for future research. The research forthis studyhasbeenundertakenatthe Institutfur Wirt- VIII Preface schaftspolitik (Institute of Political Economy), University of Cologne.

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The Ballerina and the Bull: Anarchist Utopias in the Age of Finance

Johanna Isaacson
Paperback / softback
288 pages
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Our moment has seen the resurgence of an anarchist sensibility, from the uprisings in Seattle in 1999 to the Occupy movement of 2011.

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Fifteen Dogs

AndrÃ© Alexis
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176 pages
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A pack of dogs are granted the power of human thought - but what will it do to them? A surprising and insightful look at the beauty and perils of consciousness.

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The Memory Collectors: A Novel

Dete Meserve
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320 pages
was: R 649.95
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Forthcoming

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