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Wage sensitivity rankings and temporal convergence
Jones, Ronald W.; Neary, J. Peter
This paper examines the two-sector general equilibrium model under a variety of labor-market distortions, including minimum wages and factor price differentials (both absolute and proportional). We introduce a new concept - the "wage sensitivity" ranking between sectors - and show that a necessary and sufficient condition for temporal convergence locally is that the physically labor-intensive sector be the wage-sensitive sector. A hard copy is available in UCD Library at GEN 330.08 IR/UNI
Keyword(s): Equilibrium (Economics); Labor market; Wages
Publication Date:
Type: Working paper
Peer-Reviewed: Unknown
Language(s): English
Institution: University College Dublin
Publisher(s): University College Dublin. School of Economics
File Format(s): other; application/pdf
First Indexed: 2012-08-25 05:22:20 Last Updated: 2018-10-11 15:43:56