| dc.contributor.author | Michael, Michael S. | en |
| dc.contributor.author | Miller, Stephen M. | en |
| dc.creator | Michael, Michael S. | en |
| dc.creator | Miller, Stephen M. | en |
| dc.date.accessioned | 2019-05-03T05:22:39Z | |
| dc.date.available | 2019-05-03T05:22:39Z | |
| dc.date.issued | 1992 | |
| dc.identifier.uri | http://gnosis.library.ucy.ac.cy/handle/7/47643 | |
| dc.description.abstract | Traditional customs union theory concludes that trade creation enhances welfare. Thus, Yu's (1982) conclusion that trade creation may decrease welfare in the presence of general unemployment is an important observation. Parai and Batra (1987) reestablish the traditional results in the Harris-Todaro model, where unemployment is sector-specific. We conclude that trade creation may decrease welfare in the Harris-Todaro model with international capital mobility when labor subsidies or capital taxes (subsidies) exist. Moreover, second-best labor subsidies or capital subsidies (taxes) recommended by some authors increase the chances of welfare decreasing trade creation. © 1992 Kluwer Academic Publishers. | en |
| dc.language.iso | eng | en |
| dc.source | Open Economies Review | en |
| dc.subject | unemployment | en |
| dc.subject | Customs union | en |
| dc.subject | Harris-Todaro model | en |
| dc.subject | international capital mobility | en |
| dc.title | Customs Union and the Harris-Todaro Model with International Capital Mobility | en |
| dc.type | info:eu-repo/semantics/article | |
| dc.identifier.doi | 10.1007/BF01886180 | |
| dc.description.volume | 3 | |
| dc.description.startingpage | 37 | |
| dc.description.endingpage | 49 | |
| dc.author.faculty | Σχολή Οικονομικών Επιστημών και Διοίκησης / Faculty of Economics and Management | |
| dc.author.department | Τμήμα Οικονομικών / Department of Economics | |
| dc.type.uhtype | Article | en |
| dc.contributor.orcid | Michael, Michael S. [0000-0002-7642-1261] | |
| dc.description.totalnumpages | 37-49 | |
| dc.gnosis.orcid | 0000-0002-7642-1261 | |
