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Does the Choice Between Wage Inequality and Unemployment Affect Growth?

Arnold, Lutz G. (2006) Does the Choice Between Wage Inequality and Unemployment Affect Growth? German Economic Review 7 (1), pp. 87-112.

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We present a non-scale continuous-time overlapping-generations growth model that provides an explanation for why economies with relative wage rigidity feature higher unemployment, but not slower productivity growth, than economies with flexible wages. The compression of the wage distribution associated with relative wage rigidity slows down human capital accumulation and growth ceteris paribus. ...


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Item type:Article
Institutions:Business, Economics and Information Systems > Institut für Volkswirtschaftslehre und Ökonometrie > Lehrstuhl für Theoretische Volkswirtschaft (Prof. Dr. Lutz Arnold)
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Keywords:Education • wage inequality • unemployment • R&D growth models • growth without scale effects
Dewey Decimal Classification:300 Social sciences > 330 Economics
Refereed:Yes, this version has been refereed
Created at the University of Regensburg:Yes
Item ID:200
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