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TEAM and Irish Steel : an application of the declining high-wage industries literature

Author

Listed:
  • Frank Barry
  • Joe Durkan

Abstract

Since wage stickiness generates unemployment or intersectoral labour transfer in excess of that associated with a flexible-wage adjustment process, it is frequently argued that declining industries should be subsidised to some extent to replicate the behaviour of undistorted economies. We discuss three arguments against this "traditional" viewpoint, and find that each applies in the cases of Irish Steel and Team Aer Lingus. Intervention, we find, far from alleviating the competitiveness problems that these sectors face, actually worsens them.

Suggested Citation

  • Frank Barry & Joe Durkan, 1995. "TEAM and Irish Steel : an application of the declining high-wage industries literature," Working Papers 199510, School of Economics, University College Dublin.
    • Handle: RePEc:ucn:wpaper:199510
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    File URL: http://hdl.handle.net/10197/1778
    File Function: First version, 1995
    Download Restriction: no
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    More about this item

    Keywords

    Declining industries; Protection; TEAM Aer Lingus; Irish steel; Industrial policy--Ireland--Case studies; Wages--Ireland--Case studies; Trade adjustment assistance;
    All these keywords.

    JEL classification:

    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J51 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Trade Unions: Objectives, Structure, and Effects
    • R13 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General Equilibrium and Welfare Economic Analysis of Regional Economies

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