Resource A General Model of Fair Wages in an Open Economy
Type Scoping study, Desk study, Survey
Last update: 19/05/2011
Type: Scoping study, Desk study, Survey
Language English
Year of publication: 2002
Authors: Udo Kreickemeier and Steffi Schoenwald
Summary We analyze the behavior of a multi-sector small open economy with involuntary unemployment due to fair wages. The equilibrium level of employment depends in an intuitively appealing way on the sectoral structure of the economy. It is shown that induced changes in employment are a driving force behind many of the comparative static results. Fair wage variants of the Heckscher-Ohlin and the Ricardo-Viner model, respectively, are derived as special cases.
Role Organisation
Network Organisation organisation details Fair Price and Fair Wages
List Keywords
1.1 Socio- economic Sector (OECD) 331 Trade  
1.2 Institutional dimension Social- livelihood systems/ Gender  
1.4 Target group(s) 5. Decision makers/Policymakers
2. SMEs/Private sector  
2.2 Production Chain 7. Marketing
8. Quality Control
2. Production & Management
9. Consumption/Product Use