Koskela, Erkki; Stenbacka, Rune; Juselius, Mikale - 2009
labour market imperfections and capital stock on equilibrium
unemployment. With an exogenous capital-labour ratio stronger … capital stock is not monotonic. With sufficiently strong (weak)
labour market imperfections capital investment has a wage … no effect on equilibrium unemployment.
Several recent empirical contributions have established that the capital stock …