Wage sensitivity rankings and temporal convergence

Ronald Jones and J. Peter Neary

No 198805, Working Papers from School of Economics, University College Dublin

Abstract: 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.

Keywords: Equilibrium (Economics); Labor market; Wages (search for similar items in EconPapers)
Date: 1988
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http://hdl.handle.net/10197/1449 First version, 1988 (application/pdf)

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Working Paper: WAGE SENSITIVITY RANKING AND TEMPORAL CONVERGENCE (1988)
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