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By Timothy J. Hatton, Jeffery G. Williamson (auth.), Prof. Herbert Giersch (eds.)

ISBN-10: 3540539220

ISBN-13: 9783540539223

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ISBN-10: 3642787495

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According to the FPE theorem, the invasion of grains should have raised real wages in the Old World while lowering them in New World, ceteris paribus. Did it? Actually, there are three questions here, not just one. First, were factor endowments really the key determinants of trade patterns in the late 19th century? Second, was there pronounced commodity price convergence in the late 19th century? Third, if the first two propositions hold, did in addition commodity price convergence make a significant contribution to the observed real wage convergence?

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Economic Aspects of International Migration by Timothy J. Hatton, Jeffery G. Williamson (auth.), Prof. Herbert Giersch (eds.)


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