G2TT
来源类型Discussion paper
规范类型论文
来源IDDP6058
DP6058 The Part-Time Pay Penalty for Women in Britain
Alan Manning; Barbara Petrongolo
发表日期2007-01-14
出版年2007
语种英语
摘要We analyze how global economic integration of factor markets affects the stability of the macroeconomy, with respect to expectations-driven fluctuations, when countries differ in their labor market institutions. It is shown that, due to the occurrence of equilibrium indeterminacy, liberalization of capital movements is likely to be accompanied by persistent fluctuations at the world level, while allowing also for labor movements may bring macroeconomic stability. Whether this also implies higher welfare in the long run depends on differentials in average firm size across countries. If the average firm size in a country operating under perfect competition and full employment is small relative to a country with rigid wages and unemployment, then free migration reduces unemployment, narrows wage differentials and expands world output.
主题International Macroeconomics
关键词Fluctuations driven by self fulfilling expectations Indeterminacy International capital movements International labour movements Unemployment
URLhttps://cepr.org/publications/dp6058
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/534890
推荐引用方式
GB/T 7714
Alan Manning,Barbara Petrongolo. DP6058 The Part-Time Pay Penalty for Women in Britain. 2007.
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