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Trade, Unemployment and Inequality in Product Variety Models—An Analytical Survey

In: Studies in International Economics and Finance

Author

Listed:
  • Sugata Marjit

    (Indian Institute of Foreign Trade
    Centre for Training and Research in Public Finance and Policy
    CES_Ifo)

  • Meghna Dutta

    (Indian Institute of Technology)

Abstract

There have been a significant body of theoretical and empirical work done on the effects of trade on employment and wage inequality. However, a close study of the extant literature shows that most of the work has been done within the aegis of factor-biased and sector-biased effects of factor returns due to trade. Specific factor market characteristics of the countries and their interaction owing to their trade linkages have not been explicitly studied especially in a trade model with product variety. In this work, apart from extensively discussing the literature on each of these aspects, we trace out briefly the impact of trade, entrepreneurial finance and presence of a fixed minimum wage policy on wage inequality in a one-sector Krugman-type model.

Suggested Citation

  • Sugata Marjit & Meghna Dutta, 2022. "Trade, Unemployment and Inequality in Product Variety Models—An Analytical Survey," India Studies in Business and Economics, in: Naoyuki Yoshino & Rajendra N. Paramanik & Anoop S. Kumar (ed.), Studies in International Economics and Finance, pages 293-305, Springer.
    • Handle: RePEc:spr:isbchp:978-981-16-7062-6_16
    DOI: 10.1007/978-981-16-7062-6_16
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    More about this item

    Keywords

    International trade; Product variety; Factor mobility; Unemployment; Wage inequality;
    All these keywords.

    JEL classification:

    • F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
    • F2 - International Economics - - International Factor Movements and International Business
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

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