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 respon...
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| Format: | Working paper |
| Language: | English |
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Department of Economics (University of Oxford)
2001
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