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A Disaggregated Disequilibrium Model of the Labour Market.

Abstract:

This paper analyzes a number of disequilibrium models of the labor market. The most general of these assumes that the aggregate market 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 common structure across markets, with a normal error, then it is possible to write aggregate employment as a nonlinear function of the common structure and the parameters of the error distribution. Estimates of...

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Authors


Martyn Andrews More by this author
Stephen J Nickell More by this author
Journal:
Oxford Economic Papers, N.S
Volume:
38
Publication date:
1986
URN:
uuid:f1534eb4-e400-4a43-9816-675eef6a3f51
Local pid:
oai:economics.ouls.ox.ac.uk:11262
Language:
English

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