Trade, Jobs and Wages

Download or read book Trade, Jobs and Wages written by Hian Teck Hoon and published by Edward Elgar Publishing. This book was released on 2000-01-01 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world's increasing integration through trade and the persistence of high unemployment in Europe, and other areas of the world, highlight the need to understand the implications of free trade for unemployment. Trade, Jobs and Wages analyses how employment levels and real wages are affected by international trade. Popular trade theory disregards the impact of free trade on the rate of unemployment, since it assumes full employment at the outset. By focusing on the determinants of the natural rate of unemployment, Professor Hoon places an emphasis on real, as opposed to monetary, factors in accounting for long term trends in wages and unemployment.