Imperfectly competitive labour markets and the productivity puzzle

T.M. Andersen, E. Toulemonde

    Research output: Contribution to journalArticlepeer-review

    Abstract

    We integrate imperfectly competitive labour markets in a dynamic macromodel. In accordance with empirical evidence, we find that temporary shocks are consistent with little real wage and large employment responsiveness, while permanent shocks affect real wages and not employment. © 2002 Elsevier Science B.V. All rights reserved.
    Original languageEnglish
    Pages (from-to)115-122
    Number of pages8
    JournalEconomics Letters
    Volume75
    DOIs
    Publication statusPublished - 1 Mar 2002

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