Series: IMF Working Papers
Author(s): Benedikt Braumann
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 June 1997
Keywords: Unemployment persistence, capital shortage, overlapping generations, savings, investment, monopolistic competition, real wages, wages, unemployment, employment
This paper examines the link between capital stock and unemployment persistence. An overlapping-generations model with endogenous labor supply and imperfect competition is presented. It is used to interpret the unu...