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This paper augments the new historical literature on factor price convergence. The focus is on the late nineteenth century, when economic convergence among the current OECD countries was dramatic; and the focus is on the convergence between Old World and New, by far the biggest participants in...
Persistent link: https://www.econbiz.de/10005034568
As part of a process that has been at work since 1850, real wages among the current OECD countries converged during the late 19th century. The convergence was pronounced as that which we have seen in the post World War Il period. This paper uses computable general equilibrium models to isolate...
Persistent link: https://www.econbiz.de/10005034569
Persistent link: https://www.econbiz.de/10005065051