First, so long as trade imbalances are a product of labor imbalances, the trade surplus will not be corrected so long as the global division of labor remains unchanged.
So theoretically, migration is a rational response to labor imbalances not only on an individual level, but for entire societies.
Consequently, a better understanding of the geographic mobility of immigrants is of great importance as their responsiveness to differences in employment rates across regions could help correct regional labor market imbalances (Blanchard and Katz 1992).
Roach and Sauermann were prompted to look into changes in academic career preferences because of concerns over the perceived labor market imbalance between the growing number of doctorates and the limited number of new faculty positions.
Here's the key question though: if people can take a 12-week course and get a job on the other side paying $90,000, aren't we looking at a serious labor market imbalance that will correct itself when more entrants show up in the marketplace?
Olivier Blanchard (PhD'77), appointed chief economist of the International Monetary Fund in September 2008, is a macroeconomist specializing in monetary policy, global imbalances, labor-market performance and speculative bubbles.
Certainly not the Marxists, who hold that too much of the national income has gone to corporate profits in the 1990's and not enough to labor, a painful imbalance that cannot be sustained indefinitely.
As discussed earlier in the paper, much of the Spanish unemployment can be classified as structural unemployment arising from regional imbalances in labor demand and supply.
As noted by the previous literature (Bentolila and Blanchard 1990; Bentolila and Dolado 1991; Bentolila and Jimeno 1998), the traditionally high Spanish unemployment can be characterized as structural unemployment arising from regional imbalances in labor demand and supply.
As noted by Bentolila (2002), Bentolila and Blanchard (1990), and Bentolila and Dolado (1991), among others, sticky wages accompanied by limited internal geographic mobility may have perpetuated regional imbalances between labor demand and supply and, therefore, structural unemployment.
Unsurprisingly, Saudi Arabia has the largest gender imbalance in labor force participation among G20 countries.
