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Employment Hysteresis in an Overlapping‐Generations Insider‐Outsider Model

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  • W. David McCausland

Abstract

This paper shows, within an overlapping generations insider‐outsider model, that, in the presence of training costs, there may be multiple employment equilibria. Adverse technology shocks may shift the system from ‘high’ to ‘low’ employment steady states. Restoration of the initial technological state does not always lead to the ‘high’ employment equilibrium being returned ‐ the system may get ‘stuck’ in a ‘low’ employment state.

Suggested Citation

  • W. David McCausland, 1998. "Employment Hysteresis in an Overlapping‐Generations Insider‐Outsider Model," Australian Economic Papers, Wiley Blackwell, vol. 37(4), pages 394-403, December.
  • Handle: RePEc:bla:ausecp:v:37:y:1998:i:4:p:394-403
    DOI: 10.1111/1467-8454.00029
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    Cited by:

    1. Marco Guerrazzi, 2020. "Wage and employment determination in a dynamic insider–outsider model," Evolutionary and Institutional Economics Review, Springer, vol. 17(1), pages 1-23, January.
    2. Magnus Gustavsson & Pär Österholm, 2007. "Does Unemployment Hysteresis Equal Employment Hysteresis?," The Economic Record, The Economic Society of Australia, vol. 83(261), pages 159-173, June.

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