Is there a growth-unemployment trade-off?
Why might there be a long-run trade-off between growth and unemployment? In general equilibrium, the returns on the factors of production are interdependent. This paper develops a model where the determination of the wage is central to the evolution of these incentives. The incentive to hire respond...
Main Author: | |
---|---|
Format: | Working paper |
Published: |
University of Oxford
2001
|