Measuring technical progress in matching models of the labour market
Technical Progress in matching models of the labour market has not received serious attention. This article examines the impact on the results of these models when an attempt is made to allow time to enter in a realistic fashion, and finds that recently published results on the possibility of multiple equilibria are overturned. Also, different parametric representations of the matching technology are compared, with problems of more general forms not satisfying regularity conditions being identified. While the possibility of Pareto-improving government intervention due to multiple equilibria arising out of increasing returns to scale cannot be supported, the results suggest a role for government intervention in the labour market.
Volume (Year): 34 (2002)
Issue (Month): 6 ()
|Contact details of provider:|| Web page: http://www.tandfonline.com/RAEC20 |
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/RAEC20|
When requesting a correction, please mention this item's handle: RePEc:taf:applec:v:34:y:2002:i:6:p:741-748. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty)
If references are entirely missing, you can add them using this form.