Relative wage variation and industry location in the United Kingdom

Andrew B. Bernard; Stephen J. Redding; Peter K. Schott; Helen Simpson

doi:10.1111/j.1468-0084.2008.00510.x

Relative wage variation and industry location in the United Kingdom

Andrew B. Bernard, Stephen J. Redding, Peter K. Schott, Helen Simpson

Research output: Contribution to journal › Article › peer-review

9 Scopus citations

Abstract

This paper shows that both relative wages and industry structure vary considerably across regions of the United Kingdom. In accordance with the neoclassical model of trade, regions abundant in a factor (i) exhibit lower relative prices of that factor than regions scarce in the factor, and (ii) tend to specialize in a mix of industries intensive in the use of the factor. We show that this specialization leads UK regions to be asymmetrically exposed to external macroeconomic or international trade shocks.

Original language	English (US)
Pages (from-to)	431-459
Number of pages	29
Journal	Oxford Bulletin of Economics and Statistics
Volume	70
Issue number	4
DOIs	https://doi.org/10.1111/j.1468-0084.2008.00510.x
State	Published - Aug 2008
Externally published	Yes

All Science Journal Classification (ASJC) codes

Statistics and Probability
Social Sciences (miscellaneous)
Economics and Econometrics
Statistics, Probability and Uncertainty

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10.1111/j.1468-0084.2008.00510.x

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AB - This paper shows that both relative wages and industry structure vary considerably across regions of the United Kingdom. In accordance with the neoclassical model of trade, regions abundant in a factor (i) exhibit lower relative prices of that factor than regions scarce in the factor, and (ii) tend to specialize in a mix of industries intensive in the use of the factor. We show that this specialization leads UK regions to be asymmetrically exposed to external macroeconomic or international trade shocks.

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Relative wage variation and industry location in the United Kingdom

Abstract

All Science Journal Classification (ASJC) codes

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