000 02236cam a22003137 4500
001 w2110
003 NBER
005 20211020115051.0
006 m o d
007 cr cnu||||||||
008 210910s1986 mau fo 000 0 eng d
100 1 _aEdwards, Sebastian.
245 1 0 _aTerms of Trade, Exchange Rates and Labor Markets Adjustment in Developing Countries /
_cSebastian Edwards.
260 _aCambridge, Mass.
_bNational Bureau of Economic Research
_c1986.
300 _a1 online resource:
_billustrations (black and white);
490 1 _aNBER working paper series
_vno. w2110
500 _aDecember 1986.
520 3 _aThis paper uses three models of a small open economy to analyze the effects of terms of trade and exchange rate changes (i.e. devaluations) on labor market adjustment. First, a three goods (exportables, importables, non-tradables), four factors model is developed and used to investigate how an exogenous worsening of the intern.ationa1 terms of trade affect labor allocation and wages. Second, a more traditional three goods, two factors model is used, and its results are compared to those of the first case. The analysis is carried out under alternative assumptions regarding wage flexibility: full flexibility, economy-wide (real) wage rigidity, and sector specific real wage rigidity. Finally, a three final goods model with imported intermediate inputs is used to investigate the effects of devaluations on aggregate and sectoral employment. Here the conditions under which a devaluation will be contractionary (i.e. will result in a reduction of employment) are determined.
530 _aHardcopy version available to institutional subscribers
538 _aSystem requirements: Adobe [Acrobat] Reader required for PDF files.
538 _aMode of access: World Wide Web.
588 0 _aPrint version record
690 7 _aF - International Economics
_2Journal of Economic Literature class.
710 2 _aNational Bureau of Economic Research.
830 0 _aWorking Paper Series (National Bureau of Economic Research)
_vno. w2110.
856 4 0 _uhttps://www.nber.org/papers/w2110
856 _yAcceso en línea al DOI
_uhttp://dx.doi.org/10.3386/w2110
942 _2ddc
_cW-PAPER
999 _c346436
_d304998