KARANASSOU, MARIKA; SALA, HECTOR - In: The Economic Record 86 (2010) 273, pp. 185-209
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 ( <link rid="b60">Webster, 2003</link>). As far back as <link rid="b56">1991, Pissarides</link> had argued that the influence of capital stock on the performance of...