Imperfect Labour Markets, Globalisation and the New Economy
Still, globalisation and its effects on wages and employment is a major topic in the
public press. Therefore, this article provides an overview of popular models studying the
effects of an intensified international trade on the domestic labour markets in presence
of imperfections on the latter. Subsequently, the results are related to the IT-based New
Economy. It is demonstrated that the problems discussed in the context of the New Economy
present itself in a new shape, but are after all well known.
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