This paper studies the structural impact of wage and price control policies in socialist transitional economies using a two-sector three-factor small open economy model. It illustrates the results quantitatively via simulation exercises. At the earlier stage of the transition when labor is...

Since gaining political independence in 1975, Papua New Guinea has always aspired to economic development. Throughout the subsequent years, it identified shaping and implementing an appropriate wage policy as one of the most practical policies to facilitate an economic environment conducive to...

This paper examines the changes in relative earnings of workers with different education levels during Vietnam’s transition. It is found that females enjoy a higher return to education than males do in 1998, reversing the situation observed five years ago. A large fall in the returns to...

A pesar de una rápida disminución del desempleo, los salarios reales en España apenas aumentaron durante el periodo 1995-2006. Una posible explicación de este comportamiento se refiere a la importancia de los efectos composición derivados de algunos cambios estructurales, tales como el...

Economics

The dissertation consists of two main parts. The first part presents a search model with non-stationary reservation wages. In the model the reservation wage declines over time and at a certain point is equal to utility of non-participation, after which it is not optimal to search and workers...