absolute terms, correcting for purchasing power. The relatively high employment rates of less educated German youth combined …-German difference in employment rates …

Standard models suggest that adverse labor demand shocks will lead to bigger employment losses if institutional factors … explains the contrast between the United States, where real wages fell over the 1980s and aggregate employment expanded … vigorously, and Europe, where real wages were (roughly) constant and employment was stagnant. We test this hypothesis by …

greater flexibility in wages, these two countries also exhibit more stable employment behavior over the business cycle. In …

other countries. However, these policies also appear to encourage part-time work and employment in lower level positions: US …

Ricardian model of offshoring. A unique final good is produced by combining a skilled and an unskilled product, each produced …-scarce East. Profit maximization determines both the extent of offshoring and technological progress. Offshoring induces skill … relevant case, starting from low levels, an increase in offshoring opportunities triggers a transition with falling real wages …

We identify "first generation" statistics to measure offshoring as the share of imported intermediate inputs in costs … demand and relative wages due to offshoring. A limitation of these statistics is that they cannot be used to measure the … impact on real wages, and for that purpose, we need price-based measures of offshoring. More recently, "second generation …

. It suggests that the pay and employment experience of low skilled Americans is a poor counterfactual for assessing how …