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

Isabelle Terraz ()
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Isabelle Terraz: BETA - Bureau d'Économie Théorique et Appliquée - INRA - Institut National de la Recherche Agronomique - UNISTRA - Université de Strasbourg - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique

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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.

Keywords: Economic growth; Wage bargaining; Matching models (search for similar items in EconPapers)
Date: 2015-12-17
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Published in International Economic Journal, 2015, 30 (1), pp.75-86. ⟨10.1080/10168737.2015.1136665⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01723792

DOI: 10.1080/10168737.2015.1136665

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