Working paper
Is there a growth-unemployment trade-off?
- Abstract:
-
Why might there be a long-run trade-off between growth and unemployment? In general equilibrium, the returns on the factors of production are interdependent. This paper develops a model where the determination of the wage is central to the evolution of these incentives. The incentive to hire responds little (and in some cases not at all) to changes in the rate of interest. If the wage grows in line with productivity, there is a positive relation between growth and unemployment. If the wage ri...
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- Publication status:
- Published
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Bibliographic Details
- Publisher:
- University of Oxford Publisher's website
- Series:
- Department of Economics Discussion Paper Series
- Publication date:
- 2001-01-01
- Paper number:
- 62
Item Description
- Keywords:
- Pubs id:
-
1144355
- Local pid:
- pubs:1144355
- Deposit date:
- 2020-12-15
Terms of use
- Copyright date:
- 2001
- Rights statement:
- Copyright 2001 The Author(s)
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