Does European Unemployment Prop Up American Wages? National Labor Markets and Global Trade
分析弹性工资的美国与刚性工资的欧洲之间的贸易，发现从自给自足转向自由贸易会使欧洲失业翻倍，美国工资升至欧洲水平；南方国家进入全球市场会加剧欧洲失业，而欧洲的高工资承诺使其完全免受冲击；移民对美国有利但会降低欧洲收入并推高失业。
The author considers trade between a flexible-wage America and a rigid-wage Europe. In a benchmark case, a move from autarky to free trade doubles European unemployment. American wages rise to the European level. Entry of the unskilled 'South' to world markets raises European unemployment. Europe's commitment to the high wage wholly insulates America from the shock. Immigration to America raises American income, but lowers European income dollar for dollar, while European unemployment rises. Absent South-North migration of the unskilled from 1970-90, Europe could have maintained the same wage with from one-eighth to one-fourth less unemployment. Copyright 1998 by American Economic Association.