Unemployment in Open Economies: A Search Theoretic Analysis: Lecture Notes in Economics and Mathematical Systems, cartea 496

1 Introduction.- 2 Stylised Facts.- 2.1 Matching on the Labour Market and Unemployment.- 2.2 Trade and the Terms of Trade.- 3 A Two-Sector Search Model of an Open Economy without Capital.- 3.1 The Reference Model of Risk-Neutral Individuals.- 3.2 International Trade and Exchange Rate Shocks in the Medium Run.- 3.3 The Evolution to the New Equilibrium — The Adjustment Process.- 3.4 The Economy with Risk-Neutral Individuals and Individual Bargaining.- 3.5 Appendix A.- 4 The Generalised Model: An Open Economy with Risk- Averse Individuals.- 4.1 Individual Bargaining with Risk-Averse Individuals.- 4.2 The Effects of a Terms-of-Trade Shock on an Economy with Risk-Averse Individuals.- 4.3 The Economy with Risk-Averse Individuals and Individual Bargaining.- 4.4 Appendix B.- 5 An Open Economy with Industry-Level Bargaining.- 5.1 Trade Unions in Economic Models.- 5.2 Wages under Collective Bargaining.- 5.3 Trade Unions in an Open Economy.- 5.4 The Economy with Risk-Neutral Individuals and Collective Bargaining.- 5.5 An Illustrative Numerical Example of Risk Neutrality, Risk Aversion, and Collective Bargaining.- 5.6 Appendix C.- 6 A Simple Matching Model of a One-Sector Economy with Capital Accumulation.- 6.1 The Individual’s and Firm’s Decision Problem.- 6.2 The Equilibrium with Capital Accumulation — The Long-Run Perspective.- 6.3 Appendix D: The Wage Agreement.- 7 Summary.- List of Symbols.- List of Figures.- List of Tables.- Author Index.

Does unemployment in an industrialised country respond to changes in the international prices for commodities and exchange rate changes? A new explanation for the question how changing international conditions may influence domestic labour markets Links the Beveridge ratio used for a long time as a diagnostic tool for labour markets to the international conditions Includes supplementary material: sn.pub/extras