Trade, Unemployment and Inequality in Product Variety Models—An Analytical Survey

Sugata Marjit and Meghna Dutta

A chapter in Studies in International Economics and Finance, 2022, pp 293-305 from Springer

Abstract: Abstract There have been a significant body of theoretical and empirical work done on the effects of trade on employment and wage inequality. However, a close study of the extant literature shows that most of the work has been done within the aegis of factor-biased and sector-biased effects of factor returns due to trade. Specific factor market characteristics of the countries and their interaction owing to their trade linkages have not been explicitly studied especially in a trade model with product variety. In this work, apart from extensively discussing the literature on each of these aspects, we trace out briefly the impact of trade, entrepreneurial finance and presence of a fixed minimum wage policy on wage inequality in a one-sector Krugman-type model.

Keywords: International trade; Product variety; Factor mobility; Unemployment; Wage inequality (search for similar items in EconPapers)
JEL-codes: F16 F2 J31 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:isbchp:978-981-16-7062-6_16

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DOI: 10.1007/978-981-16-7062-6_16

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