Balla, Katalin (contributor); Köllő, János (contributor); … - 2006
differ in workers’ productivity. We look at the paths of employment, wages, taxes, labor costs and profits during and after … strength of the initial shock to employment. In the long run, the system asymptotically converges to full employment of all … groups. If the rate of job destruction is sufficiently low, the unemployment rates can get close to steady-state values …
