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| we934015.pdf | -- 2008-09-03 -- Available on Internet -- preprint | 441,11 kB | Adobe PDF | |  |
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| Title: | Underemployment and capital irreversivility in a unionized overlaping generations economy |
| Author(s): | Croix, David de la
Licandro, Omar |
| Publisher: | Universidad Carlos III de Madrid. Departamento de Economía |
| Issued date: | Dec-1993 |
| URI: | http://hdl.handle.net/10016/2903 |
| Abstract: | In a unionized OLG model, it is shown that steady-state underutilization of labour and equipment can be due to the combination of the two following elements: (i) Irreversibility of capital, technology and skill decisions, (ii) Firm specific shocks on productivity. The presence of unions is neither sufficient nor necessary for having unemployment. The result of Devereux and Lockwood (1991) that union power affect positively the capital stock in general equilibrium does not always hold under capital irreversibility. |
| Serie / Nº.: | UC3M Working Papers. Economics
1993-40-15 |
| Keywords: | Unemployment
Underutilization
Irreversibility
Investment
Union power |
| Appears in Collections: | Economists Online
DE - Working Papers. Economics. WE
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