Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/20293 
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dc.contributor.authorKauppi, Heikkien
dc.contributor.authorKoskela, Erkkien
dc.contributor.authorStenbacka, Runeen
dc.date.accessioned2009-01-28T16:13:03Z-
dc.date.available2009-01-28T16:13:03Z-
dc.date.issued2004-
dc.identifier.urihttp://hdl.handle.net/10419/20293-
dc.description.abstractWe study the implications of product market competition and investment for price setting,wage bargaining and thereby for equilibrium unemployment in an economy with product andlabour market imperfections. We show that intensified product market competition will reduceequilibrium unemployment, whereas the effect of increased capital intensity is more complex.Higher capital intensity will decrease the equilibrium unemployment when the elasticity ofsubstitution between capital and labour is less than one, while the reverse happens when thiselasticity is higher than one but smaller than the elasticity of substitution between products.Finally, we demonstrate how labour and product market imperfections, characterized by thewage and price setting mark-ups, affect the optimal capital stock. Our findings raise importantquestions for future empirical research.en
dc.language.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x1058en
dc.subject.jelE22en
dc.subject.jelJ51en
dc.subject.jelE24en
dc.subject.jelL11en
dc.subject.ddc330en
dc.subject.keywordequilibrium unemploymenten
dc.subject.keywordproduct market imperfectionsen
dc.subject.keywordinvestmenten
dc.subject.keywordwage bargainingen
dc.subject.stwArbeitslosigkeiten
dc.subject.stwArbeitsmarkttheorieen
dc.subject.stwUnvollkommener Markten
dc.subject.stwWettbewerben
dc.subject.stwInvestitionen
dc.subject.stwLohnverhandlungstheorieen
dc.subject.stwKapitalintensitäten
dc.subject.stwTheorieen
dc.titleEquilibrium Unemployment and Investment Under Product and Labour Market Imperfections-
dc.typeWorking Paperen
dc.identifier.ppn38095074Xen
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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