Labor Market and Current Account Equilibria in Greenland

Lars Lund ()
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Lars Lund: Copenhagen Business School, Department of Economics, Postal: Porcelænshaven, 1st Floor, Porcelænshaven 16A, 2000 Frederiksberg

Nationaløkonomisk tidsskrift, 2018, vol. 2018, issue 1, 20

Abstract: Greenland’s population and employment have historically been stable, but its growth performance is not impressive. Greenland enjoys rather stable fishing exports, and it receives two-thirds of its import capacity as a grant from Denmark. Non-fishing labor contributes to either private consumption or government consumption. The first is import- intensive and the second is labor-intensive. Greenland’s imports cannot exceed the sum of the grant and net fishing exports. A large public sector guarantees stable employment. A larger private-government consumption ratio is hypothesized as a way to increase welfare, and a lower real wage is the means by which this can be achieved.

Keywords: Greenland; Labor market; Current account; Denmark (search for similar items in EconPapers)
JEL-codes: E19 E31 (search for similar items in EconPapers)
Date: 2018
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