Economic Growth: The Case of Irreversibility of Investment with Bargaining Power of Workers

Isabelle Terraz

International Economic Journal, 2016, vol. 30, issue 1, 75-86

Abstract: In this paper, we develop a model of endogenous growth with search frictions in the labor market. We show that the growth rate of the economy may be durably altered in a case of investment irreversibility and bargaining power of workers. Labor market conditions mitigate this rent-seeking effect of workers.

Date: 2016
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DOI: 10.1080/10168737.2015.1136665

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