A labour market extension for WorldScan; modelling labour supply, wage bargaining and unemployment in a CGE framework
AbstractThis paper describes a labour market extension for the CGE model "WorldScan". The labour market module features endogenous labour supply at two margins: participation and hours of work. Involuntary unemployment is captured through a collective bargaining ("right to manage") set-up. The paper explains how these two labour market mechanisms interact and how they are calibrated to empirical elasticities. Illustrative simulations that can be placed in the context of the "double dividend" literature show the working mechanisms of the module.
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Bibliographic InfoPaper provided by CPB Netherlands Bureau for Economic Policy Analysis in its series CPB Document with number 201.
Date of creation: Mar 2010
Date of revision:
Find related papers by JEL classification:
- C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
- D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
- J20 - Labor and Demographic Economics - - Demand and Supply of Labor - - - General
- J50 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-04-17 (All new papers)
- NEP-CMP-2010-04-17 (Computational Economics)
- NEP-LAB-2010-04-17 (Labour Economics)
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- Boeters, Stefan & Savard, Luc, 2013. "The Labor Market in Computable General Equilibrium Models," Handbook of Computable General Equilibrium Modeling, Elsevier.
- Boeters, Stefan & Savard, Luc, 2011.
"The labour market in CGE models,"
ZEW Discussion Papers
11-079, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- Stefan Boeters & Luc Savard, 2012. "The Labour Market in CGE Models," CPB Discussion Paper 201, CPB Netherlands Bureau for Economic Policy Analysis.
- Stefan Boeters & Luc Savard, 2011. "The Labour Market in CGE Models," Cahiers de recherche 11-20, Departement d'Economique de la Faculte d'administration à l'Universite de Sherbrooke.
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