Chapter

Relative Prices, Trade and Restructuring in European Industry

Damien Neven and Charles Wyplosz

in Trade and Jobs in Europe

Published in print August 1999 | ISBN: 9780198293606
Published online August 2004 | e-ISBN: 9780191601262 | DOI: http://dx.doi.org/10.1093/0198293607.003.0003
 Relative Prices, Trade and Restructuring in European Industry

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This chapter examines the impact of trade on European labour markets using data on relative commodity prices and intra-sectoral skill levels. Drastic restructuring in unskilled labour-intensive industries is observed in terms of downsizing and upgrading of skills. Competition from developing countries affects a significant number of industries, but the adjustments taking place at the industry level are not as simple as those predicted by Heckscher-Ohlin.

Keywords: international trade; European labour market; unskilled workers; skilled workers; competition; commodity prices; wages; industry

Chapter.  10201 words.  Illustrated.

Subjects: Macroeconomics and Monetary Economics

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