Unemployment, Factor Substitution and Capital Formation

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KAAS, Leo, Leopold von THADDEN, 2003. Unemployment, Factor Substitution and Capital Formation. In: German Economic Review. 4(4), pp. 475-495

@article{Kaas2003Unemp-12198, title={Unemployment, Factor Substitution and Capital Formation}, year={2003}, doi={10.1111/j.1465-6485.2003.00090.x}, number={4}, volume={4}, journal={German Economic Review}, pages={475--495}, author={Kaas, Leo and Thadden, Leopold von} }

<rdf:RDF xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" xmlns:bibo="http://purl.org/ontology/bibo/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:dcterms="http://purl.org/dc/terms/" xmlns:xsd="http://www.w3.org/2001/XMLSchema#" > <rdf:Description rdf:about="https://kops.uni-konstanz.de/rdf/resource/123456789/12198"> <dc:contributor>Thadden, Leopold von</dc:contributor> <dcterms:issued>2003</dcterms:issued> <dc:format>application/pdf</dc:format> <dcterms:bibliographicCitation>First publ. in: German Economic Review 4 (2003), 4, pp. 475-495</dcterms:bibliographicCitation> <dcterms:abstract xml:lang="eng">We incorporate a wage-bargaining structure in a dynamic general equilibrium model and show how this feature changes short- and long-run properties of equilibria compared with a perfectly competitive setting.We discuss how employment, capital and income shares respond to wage-setting shocks and show that adjustment dynamics depend decisively on the magnitude of the elasticity of substitution between labour and capital. Values of the elasticity below unity add persistence, tend to preserve stability and lead to empirically plausible adjustment patterns. By contrast, values above unity introduce additional volatility, thereby making steady states potentially unstable.</dcterms:abstract> <dcterms:rights rdf:resource="http://nbn-resolving.org/urn:nbn:de:bsz:352-20140905103416863-3868037-7"/> <dc:date rdf:datatype="http://www.w3.org/2001/XMLSchema#dateTime">2011-03-25T09:43:23Z</dc:date> <dc:rights>deposit-license</dc:rights> <dcterms:available rdf:datatype="http://www.w3.org/2001/XMLSchema#dateTime">2011-03-25T09:43:23Z</dcterms:available> <dc:language>eng</dc:language> <dc:creator>Kaas, Leo</dc:creator> <bibo:uri rdf:resource="http://kops.uni-konstanz.de/handle/123456789/12198"/> <dc:creator>Thadden, Leopold von</dc:creator> <dc:contributor>Kaas, Leo</dc:contributor> <dcterms:title>Unemployment, Factor Substitution and Capital Formation</dcterms:title> </rdf:Description> </rdf:RDF>

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