Analyzes how Singapore's employment levels and real wages are affected by international trade. By focusing on the determinants of the endogenous natural rate of unemployment, Hoon (economics, National U. of Singapore) places an emphasis on real, as opposed to monetary, factors in accounting for long-term trends in wages and unemployment. The influence of trade on jobs and wages is examined in different theoretical settings, including the Ricardian and Heckscher-Ohlin models, as well as models exhibiting imperfect competition and scale economies. The focus is on structural, rather than cyclical, unemployment. Wage inequalities also are discussed. Annotation c. Book News, Inc., Portland, OR (booknews.com)
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