Matches in SemOpenAlex for { <https://semopenalex.org/work/W2334356445> ?p ?o ?g. }
Showing items 1 to 49 of
49
with 100 items per page.
- W2334356445 endingPage "605" @default.
- W2334356445 startingPage "605" @default.
- W2334356445 abstract "While the bulk of trade theory is concerned with the behavior of economies that save and invest nothing and suffer no trade imbalance, Bruno [4, 199-221] has provided a two period model of production and factor allocation that is capable of handling these issues rather conveniently.' In this paper we explore the positive theory of inter-industry relative wage differentials in a framework similar to Bruno's. Such an exercise leads to a considerably richer body of results. We obtain some new results regarding the implications of interindustry wage differentials for the pattern and level of investment and for the trade balance of a small open economy. In addition, we demonstrate that a striking result of Batra and Pattanaik [1, 638-49], that an increase in the inter-industry wage differential does not necessarily reduce the value of output at fixed product prices, is valid only in the long run equilibrium, and that it ceases to hold in the short run when the capital stock is fixed and sector specific. We further demonstrate that the output response to goods-price change turns out to be unambiguously normal even in the presence of inter-industry wage differentials, in contrast to the perverse output response noted by Bhagwati and Sinivasan [3, 19-35]. Finally, Magee's [5, 623-43] result on the ambiguous impact of an increase in the wage differential on the pattern of production, we demonstrate, does not withstand the introduction of endogenous saving and investment into the standard two-sector model. It is worth emphasizing that we are concerned with inter-industry wage differentials that take the form of relative rather than absolute differentials. While Schweinberger [6, 95-115] has shown that most of the propositions in the positive theory of inter-industry relative factor-price differentials are overturned in the case of absolute differentials, we show that these standard propositions cease to hold even if the differentials are relative. For our tools of analysis we draw upon the specific factor model, cast it in an intertemporal decision making framework, assume international capital mobility, and obtain a trade model similar to Bruno's [4, 199-221] two-sector, two-period model in which endogenous saving and investment are explicitly incorporated. In contrast to Bruno's model, however," @default.
- W2334356445 created "2016-06-24" @default.
- W2334356445 creator A5002351457 @default.
- W2334356445 creator A5075439636 @default.
- W2334356445 date "1987-01-01" @default.
- W2334356445 modified "2023-09-26" @default.
- W2334356445 title "An Analysis of Wage Differentials for a Small Open Economy" @default.
- W2334356445 cites W1526677263 @default.
- W2334356445 cites W1546951367 @default.
- W2334356445 cites W1965151831 @default.
- W2334356445 cites W2015307686 @default.
- W2334356445 cites W2086758479 @default.
- W2334356445 cites W2127058118 @default.
- W2334356445 cites W3124754887 @default.
- W2334356445 doi "https://doi.org/10.2307/1058757" @default.
- W2334356445 hasPublicationYear "1987" @default.
- W2334356445 type Work @default.
- W2334356445 sameAs 2334356445 @default.
- W2334356445 citedByCount "0" @default.
- W2334356445 crossrefType "journal-article" @default.
- W2334356445 hasAuthorship W2334356445A5002351457 @default.
- W2334356445 hasAuthorship W2334356445A5075439636 @default.
- W2334356445 hasConcept C145236788 @default.
- W2334356445 hasConcept C162324750 @default.
- W2334356445 hasConcept C2777388388 @default.
- W2334356445 hasConceptScore W2334356445C145236788 @default.
- W2334356445 hasConceptScore W2334356445C162324750 @default.
- W2334356445 hasConceptScore W2334356445C2777388388 @default.
- W2334356445 hasIssue "3" @default.
- W2334356445 hasLocation W23343564451 @default.
- W2334356445 hasOpenAccess W2334356445 @default.
- W2334356445 hasPrimaryLocation W23343564451 @default.
- W2334356445 hasRelatedWork W1838352169 @default.
- W2334356445 hasRelatedWork W1975722309 @default.
- W2334356445 hasRelatedWork W1987430257 @default.
- W2334356445 hasRelatedWork W2115755969 @default.
- W2334356445 hasRelatedWork W2126097407 @default.
- W2334356445 hasRelatedWork W2127336856 @default.
- W2334356445 hasRelatedWork W2766463957 @default.
- W2334356445 hasRelatedWork W3122570229 @default.
- W2334356445 hasRelatedWork W3125712150 @default.
- W2334356445 hasRelatedWork W3145362854 @default.
- W2334356445 hasVolume "53" @default.
- W2334356445 isParatext "false" @default.
- W2334356445 isRetracted "false" @default.
- W2334356445 magId "2334356445" @default.
- W2334356445 workType "article" @default.