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A two‐country, three‐commodity Ricardian trade model with Keynesian unemployment
Metroeconomica ( IF 1.297 ) Pub Date : 2020-11-08 , DOI: 10.1111/meca.12320
Hideo Sato 1
Affiliation  

Conventional trade models either assume full employment or suppose imperfect labor markets and attribute unemployment to the imperfectness. Needless to say, Keynesian unemployment arising from a shortage of effective demand has not been considered. In this paper, our two‐country, three‐commodity trade model determines patterns of the international division of labor, commodity terms of trade, relative wage rates and employment quantities in each country simultaneously, given the production techniques, labor endowments and effective demand. Furthermore, the model argues the significance of link commodities commonly produced in both countries and quantity adjustments without price changes in the face of demand changes.

中文翻译:

凯恩斯主义失业的两国三商品里卡德贸易模型

传统的贸易模型要么假定充分就业,要么假定劳动力市场不完善,并将失业归因于不完善。不用说,尚未考虑因有效需求不足而引起的凯恩斯主义失业。在本文中,我们的二国三商品贸易模型在确定生产技术,劳动end赋和有效需求的同时,确定了国际劳动分工,商品贸易条件,相对工资率和就业数量的模式。此外,该模型还指出了将两国共同生产的商品与数量调整联系起来的重要性,而这些需求在面对需求变化时不会发生价格变化。
更新日期:2020-11-08
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