Should We Wait to 'Grow Out of' Unemployment? The Implications of a Neoclassical Calibration Analysis.
The paper uses a Solow-Ramsey growth model to evaluate the effectiveness of growth as a remedy for unemployment in the face of a wage minimum. Plausible calibration of the model suggests that the elimination of 5 percent unemployment by the process of capital accumulation may take about twenty years. Copyright 1998 by The Economic Society of Australia.
Year of publication: |
1998
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Authors: | Coleman, William |
Published in: |
The Economic Record. - Economic Society of Australia - ESA, ISSN 1475-4932. - Vol. 74.1998, 225, p. 162-69
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Publisher: |
Economic Society of Australia - ESA |
Saved in:
Saved in favorites
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