This paper analyzes a number of disequilibrium mode ls of the labor market. The most general of these assumes that the aggregate mar ket consists of a series of submarkets, none of which are in excess demand, with the remainder being in excess supply. Assuming demands and supplies have a comm on...

Developing economies may face a trade-off between specializing according to existing comparative advantage (in low-technology goods) and entering sectors in which they currently lack a comparative advantage but may acquire such an advantage in the future as a result of the potential for...