An Equilibrium Model of Sectoral Reallocation

Richard Rogerson

Journal of Political Economy, 1987, vol. 95, issue 4, 824-34

Abstract: This paper constructs a two-period, two-sector model in which there are permanent sectoral shocks. It analyzes the equilibrium path of individual labor supply, sectoral em ployment, and duration of unemployment in response to these shocks. E quilibrium allocations are shown to be easy to characterize and compa rative statistics results are provided. Copyright 1987 by University of Chicago Press.

Date: 1987
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