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dc.contributor.authorSattinger, Michaelen_US
dc.date.accessioned2009-01-28T16:20:39Z-
dc.date.available2009-01-28T16:20:39Z-
dc.date.issued2001en_US
dc.identifier.urihttp://hdl.handle.net/10419/21240-
dc.description.abstractA model linking macroeconomic phenomena and income distribution in balanced growth equilibria is developed as a variant to the Kaldor model of factor shares. It departs from the original Kaldor model in assuming equal savings rates and production determined by a matching process between workers and jobs. Macroeconomic equilibrium (national savings equal to investment) determines the ratio of jobs to employment and the ratio of unemployed to vacancies. Competitive microeconomic behavior then determines the wage and interest rates. Changes in the ratio of national debt to employment have real effects on factor prices. Implications for effects of taxes and unemployment benefits are derived. The model explains recent declines in real wages relative to productivity.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesIZA Discussion paper series 380en_US
dc.subject.jelD33en_US
dc.subject.jelH2en_US
dc.subject.jelE1en_US
dc.subject.jelJ31en_US
dc.subject.ddc330en_US
dc.subject.keywordKaldoren_US
dc.subject.keywordreal wageen_US
dc.subject.keywordinterest rateen_US
dc.subject.keywordnational debten_US
dc.subject.keywordunemployment benefitsen_US
dc.subject.keywordefficient taxationen_US
dc.subject.keywordmatchingen_US
dc.subject.keywordfactor pricesen_US
dc.subject.stwVerteilungstheorieen_US
dc.subject.stwWirtschaftswachstumen_US
dc.subject.stwMatchingen_US
dc.subject.stwFaktorpreisen_US
dc.subject.stwLohnbildungen_US
dc.subject.stwÖffentliche Schuldenen_US
dc.subject.stwReallohnen_US
dc.subject.stwTheorieen_US
dc.titleA Kaldor Matching Model of Real Wage Declinesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn342411837en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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