Labour Market Equilibrium in an Open Economy*

Minford, Patrick

doi:10.1093/oxfordjournals.oep.a041611

Cited by 107 publications

(35 citation statements)

References 14 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Two-sector models can also of course be constructed on a distinction between an unionised and a non-unionised sector. For models along these lines, see Minford (1983) McDonald and Solow (1985) and Layard et al (1991, ch. 2), among others. 16 Overall rates of population growth in the developing economies ranged from around 2 per cent a year in parts of Africa to over 3 per cent in much of Latin America and in major parts of Asia in the late 1950s and early 1960s.…”

Section: Setting the Scenementioning

confidence: 99%

Informal sector, income inequality and economic development

Bhattacharya

2011

Economic Modelling

View full text Add to dashboard Cite

This paper addresses -with the help of numerical simulation -some of the issues relating to income distribution in the context of development of an economy with an informal sector and migration of both low and high skilled workers from the rural to the urban area. A major aim has been to see under what conditions we do or do not get an inverted U-shaped curve of income distribution. The paper finds that the tendency always is for the Gini coefficient to rise and then decline. However, once it starts declining, it need not continuously decline; it may rise, then decline, then rise again and indeed rise above the previous peak before starting to decline again and may well end at the end of the simulation at a higher value than at the start. Any case for the redistribution of income is seen to be much stronger at later stages of development that at earlier stages, even though at later stages, Gini coefficient may be lower than at earlier stages. The policy implications of the findings are briefly considered.

show abstract

Section: Setting the Scenementioning

confidence: 99%

Informal sector, income inequality and economic development

Bhattacharya

2011

Economic Modelling

View full text Add to dashboard Cite

show abstract

“…Any changes in exogenous factors will shift demand or supply schedules and change equilibrium wage. Exogenous variables those affect supply schedule include real unemployment benefit, tax rate (fraction of wage) paid by employee, size of working age population (Minford, 1983), unearned income, population between the ages 16 and 64 (Sarantis, 1981) and so on. Thus one of the obvious exogenous factors that shift the supply schedule is the size of labor force.…”

Section: Analytical Frameworkmentioning

confidence: 99%

Does the Balassa–samuelson Theory Explain the Link Between Relative Population Growth and Purchasing Power Parity?

Hassan

Salim

2013

Singapore Econ. Rev.

View full text Add to dashboard Cite

show abstract

“…Minford's equilibrium model for the Netherlands Minford (1983) proposes a model for labour market equilibrium in an open economy. This model boils down to an extended version of the classical model.…”

Section: * Professor Of Economics and Senior Lecturer Of Economics Rementioning

confidence: 99%

“…Equilibrium models are the antipodes of these disequilibrium models. Minford's (1983) model for the labour market is a well known example of these equilibrium models. An interesting aspect of the Minford model is that it indeed shows a large impact of social security on the labour market (in the case of the United Kingdom and Germany; for the latter country see Davis and Minford, 1989).…”

Section: Introductlonmentioning

confidence: 99%