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Growth Models with Exogenous Saving Rates, Unemployment and Wage Inertia

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  • Xavier Raurich (Universitat de Barcelona)
  • Valeri Sorolla (Universitat Autonoma de Barcelona)

    (Universitat de Barcelona)

Abstract

The purpose of this paper is to introduce a noncompetitive labor market and unemployment into the growth models with exogenous saving rates found in economic growth textbooks (SalaiMartin, 2000; Barro and SalaiMartin, 2003; Romer, 2006). We first derive a general framework with a neoclassical production function to analyze the relationship between growth and employment. We use this framework to study the joint dynamics of growth and employment when different wage setting rules are considered

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Bibliographic Info

Paper provided by Universitat de Barcelona. Espai de Recerca en Economia in its series Working Papers in Economics with number 287.

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Length: 0 pages
Date of creation: 2012
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Handle: RePEc:bar:bedcje:2012287

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  1. Lawrence F. Katz & Olivier Blanchard, 1999. "Wage Dynamics: Reconciling Theory and Evidence," American Economic Review, American Economic Association, American Economic Association, vol. 89(2), pages 69-74, May.
  2. Benassy, Jean-Pascal, 1997. " Imperfect Competition, Capital Shortages and Unemployment Persistence," Scandinavian Journal of Economics, Wiley Blackwell, Wiley Blackwell, vol. 99(1), pages 15-27, March.
  3. Olivier Blanchard & Lawrence F. Katz, 1996. "What We Know and Do Not Know About the Natural Rate of Unemployment," NBER Working Papers 5822, National Bureau of Economic Research, Inc.
  4. Vincent Hogan, 2003. "Wage Aspirations and Unemployment Persistence," Working Papers, School Of Economics, University College Dublin 200310, School Of Economics, University College Dublin.
  5. Collard, Fabrice & de la Croix, David, 1996. "Gift exchange and the business cycle: the fair wage strikes back," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales), Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) 1997008, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES), revised 00 Apr 1997.
  6. Marco Maffezzoli, 2001. "Non-Walrasian Labor Markets and Real Business Cycles," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 4(4), pages 860-892, October.
  7. Jean-Pierre Danthine & André Kurmann, 2003. "Fair Wages in a New Keynesian Model of the Business Cycle," Cahiers de recherche, CIRPEE 0320, CIRPEE.
  8. Layard, R. & Nickell, S., 1991. "Unemployment in the OECD Countries," Economics Series Working Papers 99130, University of Oxford, Department of Economics.
  9. Solow, Robert M., 1979. "Another possible source of wage stickiness," Journal of Macroeconomics, Elsevier, Elsevier, vol. 1(1), pages 79-82.
  10. Marika Karanassou & Hector Sala & Pablo F. Salvador, 2007. "Capital Accumulation and Unemployment: New Insights on the Nordic Experience," Working Papers, Queen Mary, University of London, School of Economics and Finance 611, Queen Mary, University of London, School of Economics and Finance.
  11. Fabio Arico, 2003. "Growth and Unemployment: Towards a Theoretical Integration," Journal of Economic Surveys, Wiley Blackwell, Wiley Blackwell, vol. 17(3), pages 419-455, 07.
  12. Robert J. Barro & Xavier Sala-i-Martin, 2003. "Economic Growth, 2nd Edition," MIT Press Books, The MIT Press, The MIT Press, edition 2, volume 1, number 0262025531, December.
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