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A trade union whose purpose is to raise wages above the competitive level may foster economic growth if it succeeds in shifting income away from the owners of capital to the workers and if the workers' marginal propensity to save exceeds the one of capitalists. We make this point in an...
Persistent link: https://www.econbiz.de/10011399719
of both skill groups, and unemployment. In contrast to the canonical model with a fixed task allocation, low …-skilled workers may be harmed in terms of either lower wages or higher unemployment depending on the relative task …-2017. The simulated effects of SBTC on low-skilled unemployment are largely consistent with observed developments. For example …
Persistent link: https://www.econbiz.de/10013414223
, wages of both skill groups, and unemployment. In contrast to the canonical model with a fixed task allocation, low …-skilled workers may be harmed in terms of either lower wages or higher unemployment depending on the relative task …-2017. The simulated effects of SBTC on low-skilled unemployment are largely consistent with observed developments. For example …
Persistent link: https://www.econbiz.de/10013415325
, wages of both skill groups, and unemployment. In contrast to the canonical model with a fixed task allocation, low …-skilled workers may be harmed in terms of either lower wages or higher unemployment depending on the relative task …-2017. The simulated effects of SBTC on low-skilled unemployment are largely consistent with observed developments. For example …
Persistent link: https://www.econbiz.de/10014243671
of both skill groups, and unemployment. In contrast to the canonical model with a fixed task allocation, low …-skilled workers may be harmed in terms of either lower wages or higher unemployment depending on the relative task …-2017. The simulated effects of SBTC on low-skilled unemployment are largely consistent with observed developments. For example …
Persistent link: https://www.econbiz.de/10013392126
unemployment in a disaggregated economy. We simultaneously endogenise both the direction and pace of technological change as well … as the unemployment rates. We show that an increase in the supply of high-skilled labour can explain skilled …-biased technological change, a reduction in high-skilled unemployment and a rise in the high-skilled wage differential. In accordance with …
Persistent link: https://www.econbiz.de/10010457727
Many empirical studies show the paradoxical fact that service output in proportion to industrial output does not tend to decline, in spite of rising service prices. Baumol's "cost disease" model well explains rising service prices, but it simply assumes that the output proportion remains...
Persistent link: https://www.econbiz.de/10014099094
This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...
Persistent link: https://www.econbiz.de/10011398011
This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...
Persistent link: https://www.econbiz.de/10011401020
R&D-based growth models are tested using US data for the period 1953-2014. A general growth model is developed which nests the model varieties of interest. The model implies a cointegrating relationship between multifactor productivity, research intensity, and employment. This relationship is...
Persistent link: https://www.econbiz.de/10012959253