Imperfectly competitive labour markets and the productivity puzzle

T.M. Andersen; E. Toulemonde

doi:10.1016/S0165-1765(01)00579-1

Imperfectly competitive labour markets and the productivity puzzle

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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 language	English
Pages (from-to)	115-122
Number of pages	8
Journal	Economics Letters
Volume	75
DOIs	https://doi.org/10.1016/S0165-1765(01)00579-1
Publication status	Published - 1 Mar 2002

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Imperfectly competitive labour markets and the productivity puzzle

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