Karanassou, Marika; Sala, Hector - 2009
on unemployment was partially reversed by the resulting decrease in net foreign demand. -- Labour market dynamics …The debate in Australia on the (constant-output) elasticity of labour demand with respect to wages has wrongly … sidelined the role of capital stock as a determinant of employment (Webster, 2003). As far back as 1991, Pissarides had argued …