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Labor Market and Current Account Equilibria in Greenland

Author

Listed:
  • Lund, Lars

    (Copenhagen Business School, Department of Economics)

Abstract

Greenland’s population and employment have historically been stable, but its growth performance is not impressive. Greenland enjoys rather stable fishing exports, and it receives two-thirds of its import capacity as a grant from Denmark. Non-fishing labor contributes to either private consumption or government consumption. The first is import- intensive and the second is labor-intensive. Greenland’s imports cannot exceed the sum of the grant and net fishing exports. A large public sector guarantees stable employment. A larger private-government consumption ratio is hypothesized as a way to increase welfare, and a lower real wage is the means by which this can be achieved.

Suggested Citation

  • Lund, Lars, 2018. "Labor Market and Current Account Equilibria in Greenland," Nationaløkonomisk tidsskrift, Nationaløkonomisk Forening, vol. 2018(1), pages 1-20.
    • Handle: RePEc:hhs:jdaecn:0016
    as

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    References listed on IDEAS

    as
    1. Paldam, Martin, 1997. "Dutch disease and rent seeking: The Greenland model," European Journal of Political Economy, Elsevier, vol. 13(3), pages 591-614, September.
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    More about this item

    Keywords

    Greenland; Labor market; Current account; Denmark;
    All these keywords.

    JEL classification:

    • E19 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Other
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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