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Labour Market Imperfection and HOS Model: Some Counterintuitive Results

Chaudhuri, Sarbajit (2009): Labour Market Imperfection and HOS Model: Some Counterintuitive Results.

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Abstract

This note introduces labour market imperfection in an otherwise Heckscher-Ohlin-Samuelson (HOS) model and provides a theory of unionized wage formation. It demonstrates that this framework satisfies the Stolper-Samuelson theorem and the magnification effect and that it is capable of producing certain results which are contrary to the standard HOS and the Corden and Findlay (1975) results.

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