000K utf8 1100 $c2010 1500 eng 2050 urn:nbn:de:gbv:8-diss-47490 3000 Oskamp, Frank 4000 The globalization of labor markets and its policy implications$hChristian-Albrechts-Universität zu Kiel [Oskamp, Frank] 4030 Kiel$nChristian-Albrechts-Universität zu Kiel 4209 Since the 1990s, the effective global labor supply has increased strongly, in particular due to the integration of China and India into the global markets. This rise has also deteriorated the situation of low-skilled workers in advanced economies. This development raises important challenges for policy makers in advanced economies. Concerning monetary policy, it is important to know, how the increasing global labor supply affects wages, inflation and macroeconomic activity. The analysis is based on a dynamic general equilibrium model. To make the analysis as transparent as possible, it is based on global variables, i.e. there is no disaggregation. Concerning labor market policy, it is important to know, how to react to the adverse impact of the increasing global labor supply on the low-skilled labor force. In this context, two aspects are analyzed. First, the impact of a particular policy (low-wage subsidies) on skill formation, aggregate employment and welfare is analyzed in detail. Second, the interactions between two policies (hiring subsidies and training subsidies) are analyzed. Both analyses are based on a Markov model. In particular – given the specific challenges for labor market policy –, a disaggregated approach is used, i.e. it is distinguished among different types of labor. The analyses are concerned with the decisions of labor market participants in response to policy-induced incentives. 4950 https://nbn-resolving.org/urn:nbn:de:gbv:8-diss-47490$xR$3Volltext$534 4961 https://macau.uni-kiel.de/receive/diss_mods_00004749 5051 330 5550 China 5550 complementarities 5550 employment 5550 hiring subsidies 5550 incentives 5550 interactions 5550 labor market 5550 labor market policy 5550 labor supply 5550 low-wage subsidies 5550 monetary policy 5550 skills 5550 training 5550 training subsidies 5550 unemployment