An Equilibrium Model of Sectoral Reallocation
AbstractThis paper constructs a two-period, two-sector model in which there are permanent sectoral shocks. It analyzes the equilibrium path of individual labor supply, sectoral em ployment, and duration of unemployment in response to these shocks. E quilibrium allocations are shown to be easy to characterize and compa rative statistics results are provided. Copyright 1987 by University of Chicago Press.
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Bibliographic InfoArticle provided by University of Chicago Press in its journal Journal of Political Economy.
Volume (Year): 95 (1987)
Issue (Month): 4 (August)
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