Globalization and LaborHorst Siebert Globalization of product and factor markets means that markets are getting larger and more integrated, even those in China and Eastern Europe. It is quite understandable, then, that economists attending the 1998 Kiel Week Conference addressed the topic of how globalization is affecting labor in highly industrialized countries. The conference discussion centered on the following questions: Is it the increased trade in goods or the emergence of new technologies that intensifies competition and increases the adjustment pressures on labor markets? Who are the winners and the losers of globalization? Is there reason and room for economic policy -- and if there is, should it be national or supranational policy? The papers are complemented by comments of renowned economists from Germany and abroad. |
Contents
Superficial RICHARD E BALDWIN | 3 |
Similarities Fundamental Differences PHILIPPE MARTIN | 59 |
Is There a World Capital Market? TAMIM BAYOUMI | 65 |
Copyright | |
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apparel autarky Bairoch Bank Bhagwati Cambridge capital flows capital markets capital mobility capital tax closed economy coefficient consumption correlation costs deindustrialization developing countries domestic effect employment endogenous equation equilibrium Europe European exchange rate exports Figure firms first-order condition foreign direct investment free trade Germany Gini coefficient growth Heckscher-Ohlin Heckscher-Ohlin model important income increase industry Institute integration interest rate intermediate inputs international trade Investment Liberalization Journal of Economic labor demand labor market Leamer locational competition Lorenz curve low-wage manufacturing marginal Markusen Multinational NBER Working Paper nontradables OECD optimal optimal tax output percent product prices public inputs ratio real wages reduce rise saving and investment SBTC sector bias sector-pervasive share skilled labor small open economy Stolper-Samuelson supply Table tax competition technical change technological change tion tional tradables Tübingen unions United Kingdom wage inequality wage rate World Bank world trade