Karanassou, Marika; Sala, Hector; Salvador, Pablo F. - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007
presence of foreign demand captures the important export-led recovery of the
Finnish economy during the last decades, a … demand, real wage, and labour supply equations:
9
n
t
= α
1
n
t−1
+ β
1
k
t
−γ
1
w
t
, (2)
w
t
= α
2
w
t−1
+ β
2
x
t
−γ
2
u
t …
t
is
realcapital stock, x
t
representsawage-pushfactor, andz
t
isworking-agepopulation; the
β’s, and γ’s are positive …