Where do real wage policies lead Belgium: a general equilibrium analysis
This paper is concerned with an application to Belgium of a two-period general equilibrium model; in the short run, market imperfections (like downward rigidities on real wages) may generate a temporary disequilibrium; in the long run, flexible prices and substitution between factors restore equilibrium on all markets. The ‘dynamic’ structure is thus actually meant to represent a short-run disequilibrium embedded in a long-run equilibrium, and only the short-run results are of real interest, but with a theoretically sound long-run analysis as a background. We show that in the short run, real w... Mehr ...
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Dokumenttyp: | Artikel |
Erscheinungsdatum: | 1987 |
Schlagwörter: | Economie |
Sprache: | Englisch |
Permalink: | https://search.fid-benelux.de/Record/base-26600536 |
Datenquelle: | BASE; Originalkatalog |
Powered By: | BASE |
Link(s) : | http://hdl.handle.net/2013/ULB-DIPOT:oai:dipot.ulb.ac.be:2013/1747 |