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Translated to a cross-country context, the Solow model (Solow, 1956) predicts that international differences in steady state output per person are due to international differences in technology for a constant capital output ratio. However, most of the cross-country growth literature that refers...
Persistent link: https://www.econbiz.de/10003370345
Translated to a cross-country context, the Solow model (Solow, ) predicts that international differences in steady-state output per person are due to international differences in technology for a constant capital output ratio. However, most of the empirical growth literature that refers to the...
Persistent link: https://www.econbiz.de/10012716218
The literature on unemployment has mostly focused on labor market issues while the impact of capital formation is …
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share, and the unemployment rate, hence labour market institutions are an essential determinant of the distribution of …, second, that stronger unions and a more generous unemployment benefit tend to reduce income inequality. High capital …
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OECD. We first model the wage determination process and show that unemployment, the labour share, and the wage differential … is ambiguous. Stronger unions and/or a more generous unemployment benefit tend to reduce inequality through reduced wage … differentials, a higher labour share, and also higher unemployment. We then use a panel of OECD countries for the period 1970-96 to …
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