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value. They characterize dynamics, efficiency and stability of steady state equilibria and show that the nature of steady …
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value. They characterize dynamics, efficiency and stability of steady state equilibria and show that the nature of steady …
Persistent link: https://www.econbiz.de/10001465931
. We characterize dynamics, efficiency and stability of steady state equilibria and show that the nature of steady state …
Persistent link: https://www.econbiz.de/10009781575
We study the role of labour and credit market imperfections for the determination of equilibrium unemployment. In the credit market loan contracts are negotiated between financiers and firms, both possessing bargaining power, while the firms and organized labour bargain over the base wage. The...
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. We characterize dynamics, efficiency and stability of steady state equilibria and show that the nature of steady state …
Persistent link: https://www.econbiz.de/10013321098
characterize dynamics, efficiency and stability of steady state equilibria, and show how their nature in the presence of ‘well …
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