The Labor Market in Computable General Equilibrium Models

Stefan Boeters and Luc Savard

Chapter Chapter 26 in Handbook of Computable General Equilibrium Modeling, 2013, vol. 1, pp 1645-1718 from Elsevier

Abstract: This chapter reviews options of labor market modeling in a computable general equilibrium framework. On the labor supply side, two principal modeling options are distinguished and discussed: aggregated, representative households and microsimulation based on individual household data. On the labor demand side, we focus on the substitution possibilities between different types of labor in production. With respect to labor market coordination, we discuss several wage-forming mechanisms and involuntary unemployment.

Keywords: Computable general equilibrium model; labor market; labor supply; labor demand; microsimulation; involuntary unemployment (search for similar items in EconPapers)
JEL-codes: C68 D58 J20 J64 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (48)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:hacchp:v:1:y:2013:i:c:p:1645-1718

DOI: 10.1016/B978-0-444-59568-3.00026-2

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