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Dynamic Effects of Regulation and Deregulation in Goods and Labour Markets Author info | Abstract | Publisher info | Download info | Related research | Statistics Pasquale Commendatore () (Università di Napoli 'Federico II')
Ingrid Kubin () (Vienna University of Economics & B.A.)
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Modern macroeconomic models with a Keynesian flavour usually involve nominal rigidities in wages and goods prices. A typical model is static and combines wage bargaining in the labour markets and monopolistic competition in the goods markets. As central policy implication it follows that deregulating labour and/or goods markets increases equilibrium employment. We reassess the consequences of deregulation in a dynamic model. It still increases employment at the fixed point, which corresponds to the static equilibrium solution. However, deregulation may also lead to stability loss and endogenous fluctuations.
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Paper provided by Vienna University of Economics and B.A. Research Group: Growth and Employment in Europe: Sustainability and Competitiveness in its series Working Papers with number
geewp49.
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Date of creation: May 2005Date of revision:
Handle: RePEc:wiw:wiwgee:geewp49Note: PDF DocumentContact details of provider: Postal: Augasse 2-6, 1090 Vienna, Austria Web page: http://www.wu-wien.ac.at/inst/vw1/gee/
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Keywords: Labour and goods markets deregulation ; monopolistic competition ; business cycles ; Other versions of this item:
Find related papers by JEL classification: E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
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