Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/20293 
Erscheinungsjahr: 
2004
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 1058
Verlag: 
Institute for the Study of Labor (IZA), Bonn
Zusammenfassung: 
We study the implications of product market competition and investment for price setting, wage bargaining and thereby for equilibrium unemployment in an economy with product and labour market imperfections. We show that intensified product market competition will reduce equilibrium unemployment, whereas the effect of increased capital intensity is more complex. Higher capital intensity will decrease the equilibrium unemployment when the elasticity of substitution between capital and labour is less than one, while the reverse happens when this elasticity is higher than one but smaller than the elasticity of substitution between products. Finally, we demonstrate how labour and product market imperfections, characterized by the wage and price setting mark-ups, affect the optimal capital stock. Our findings raise important questions for future empirical research.
Schlagwörter: 
equilibrium unemployment
product market imperfections
investment
wage bargaining
JEL: 
E22
J51
E24
L11
Dokumentart: 
Working Paper

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