Raurich, Xavier; Sorolla, Valeri - Departament d'Economia i Història Econòmica, … - 2011
We introduce wage setting via efficiency wages in the neoclassical one-sector growth model to study the growth effects …. We also study the growth effects of permanent technological and fiscal policy shocks in these two economies. During the … transition, the growth effects of technological shocks obtained when wages exhibit inertia may be the opposite from the ones …