Der „natürliche“ Beschäftigungsgrad - kurzfristig und langfristig / The „Natural“ Rate of Employment – Short Versus Long Run

Brems Hans
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Brems Hans: Urbana-Champaign, Box 99 Commerce West, 1206 S. Sixth Street, Champaign, IL 61820 USA

Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), 1995, vol. 214, issue 1, 50-57

Abstract: Current European double-digit unemployment rates justify another look at the “natural” rate of employment. The first half of the paper simulates the mechanics of a short-run static macroeconomic equilibrium. Hee labor can raise its real wage rate by accepting a lower natural rate of employment. The second half of the paper dynamizes such an equilibrium by treating capital stock as a variable - accumulating as a result of investment. Then labor can no longer raise its real wage rate by accepting a lower natural rate of employment. A lower natural rate will merely lower the scale on which the economy is accumulating and producing

Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:jns:jbstat:v:214:y:1995:i:1:p:50-57

DOI: 10.1515/jbnst-1995-0104

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