The Relation between Real Wage Rates and Employment: An Intertemporal General-Equilibrium Analysis

Martin Hellwig

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The Relation between Real Wage Rates and Employment: An Intertemporal General-Equilibrium Analysis

机译：实际工资率与就业之间的关系：跨时期的一般均衡分析

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摘要

The paper studies the relation between real wage rates and employment in an intertemporal model in which expectations of subsequent real wage rates affect equilibrium capital investments and equilibrium interest rates in previous periods. Whether the wage-employment tradeoff is more favourable or less favourable in this model than in the static model with given capital depends on whether there is relatively more substitution in consumption or in production, or, more precisely, whether the elasticity of substitution in production is less than or greater than the inverse of the elasticity of marginal utility in consumption.

机译：本文研究了一个跨时期模型中的实际工资率与就业之间的关系，在该模型中，对后续实际工资率的期望会影响前期的均衡资本投资和均衡利率。在给定资本的情况下，该模型中的工资－就业权衡是比静态模型中的更有利或更不利，取决于消费或生产中是否存在相对较多的替代，或更确切地说，取决于生产中替代的弹性是否为小于或大于消费中边际效用弹性的倒数。

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来源
《German economic review》 |2004年第3期|p.263-295|共33页
作者
Martin Hellwig;
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作者单位

Max Planck Institute for Research on Collective Goods, Bonn, and Sonderforschungsbereich 504, University of Mannheim;

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原文格式 PDF
正文语种 eng
中图分类 f;
关键词
wages; employment; real interest rates; intertemporal general equilibrium;

机译：工资;就业;实际利率;跨期总体均衡;

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The Relation between Real Wage Rates and Employment: An Intertemporal General-Equilibrium Analysis

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