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Unemployment, Growth and Fiscal Policy : New Insights on the Hysteresis Hypothesis
Raurich, Xavier; Sala, Hector; Sorolla, Valeri - 2021
We develop a growth model with unemployment due to imperfections in the labor market. In this model, wage inertia and …
Persistent link: https://www.econbiz.de/10013319288
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Factor shares, the price markup, and the elasticity of substitution between capital and labor
Raurich-Puigdevall, Xavier; Sala, Hector; Sorolla i … - 2011
In a Walrasian labor market, the labor income share is constant under the assumptions of a Cobb-Douglas production function and perfect competition. Given the observed decline of the labor share in recent decades, this paper relaxes these assumptions, proposes a time-series calculation of the...
Persistent link: https://www.econbiz.de/10009422480
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Inequality and employment sensitivities to the falling labour share
Karanassou, Marika; Sala, Hector - 2011
This paper aims at identifying the labour share (wage-productivity gap) as a major factor in the evolution of inequality and employment. To this end, we use annual data for the US, UK and Sweden over the past forty years and estimate country-specific systems of labour demand and Gini coefficient...
Persistent link: https://www.econbiz.de/10009157624
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Inequality and employment sensitivities to the falling labour share
Karanassou, Marika; Sala, Hector - 2011
This paper aims at identifying the labour share (wage-productivity gap) as a major factor in the evolution of inequality and employment. To this end, we use annual data for the US, UK and Sweden over the past forty years and estimate country-specific systems of labour demand and Gini coefficient...
Persistent link: https://www.econbiz.de/10009309510
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The wage-productivity gap revisited : is the labour share neutral to employment?
Karanassou, Marika; Sala, Hector - 2010
This paper challenges the prevailing view of the neutrality of the labour income share to labour demand, and investigates its impact on the evolution of employment. Whilst maintaining the assumption of a unitary long-run elasticity of wages with respect to productivity, we demonstrate that...
Persistent link: https://www.econbiz.de/10008779969
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The wage-productivity gap revisited : is the labour share neutral to employment?
Karanassou, Marika; Sala, Hector - 2010
This paper challenges the prevailing view of the neutrality of the labour income share to labour demand, and investigates its impact on the evolution of employment. Whilst maintaining the assumption of a unitary long-run elasticity of wages with respect to productivity, we demonstrate that...
Persistent link: https://www.econbiz.de/10003990440
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The Wage-Productivity Gap Revisited : Is the Labour Share Neutral to Employment?
Karanassou, Marika - 2010
This paper challenges the prevailing view of the neutrality of the labour income share to labour demand, and investigates its impact on the evolution of employment. Whilst maintaining the assumption of a unitary long-run elasticity of wages with respect to productivity, we demonstrate that...
Persistent link: https://www.econbiz.de/10013139711
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Inequality and Employment Sensitivities to the Falling Labour Share
Karanassou, Marika; Sala, Hector - 2021
This paper aims at identifying the labour share (wage-productivity gap) as a major factor in the evolution of inequality and employment. To this end, we use annual data for the US, UK and Sweden over the past forty years and estimate country-specific systems of labour demand and Gini coefficient...
Persistent link: https://www.econbiz.de/10013316000
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Unemployment in the European Union : institutions, prices, and growth : presented at CESifo Area Conference on Employment and Social Protection, June 2004
Karanassou, Marika; Sala, Hector; Snower, Dennis J. - 2004
This paper presents a reappraisal of unemployment movements in the European Union. Our analysis is based on the chain … reaction theory of unemployment, which focuses on (a) the interaction among labor market adjustment processes, (b) the … growth drivers. Estimating a system of labor market equations for a panel of EU countries, we derive the dynamic unemployment …
Persistent link: https://www.econbiz.de/10011450238
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Unemployment, growth and fiscal policy : new insights on the hysteresis hypothesis
Raurich-Puigdevall, Xavier (contributor);  … - 2004 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10002035720