Mandal, Biswajit; Marjit, Sugata; Beladi, Hamid - Volkswirtschaftliche Fakultät, … - 2010
Using the hybrid of Heckscher - Ohlin and Specific Factor models of trade we show that economic recession led shock results in a loss for both capitalists and skilled workers. Some of the unionized unskilled workers lose formal sector employment and move onto the informal sector. In case capital...