Downloads: 294

Files in This Item:
File Description SizeFormat 
j.strueco.2013.06.001.pdf342.01 kBAdobe PDFView/Open
Full metadata record
DC FieldValueLanguage
dc.contributor.authorSasaki, Hiroakija
dc.contributor.authorMatsuyama, Junja
dc.contributor.authorSako, Kazumitsuja
dc.contributor.alternative佐々木, 啓明ja
dc.description.abstractWe develop a disequilibrium macrodynamic model in which two types of labor (regular and non-regular employment) are incorporated. We analyze how the expansion of the wage gap between regular and non-regular employment affects the economy. If the steady state equilibrium exhibits the wage-led demand regime, an increase in the wage gap does not affect the stability of equilibrium. In this case, the size of the reserve army effect affects the stability of the equilibrium. If the reserve army effect is strong, the steady state equilibrium is unstable. On the other hand, if the steady state equilibrium exhibits the profit-led demand regime, an increase in the wage gap destabilizes the equilibrium. It is possible that depending on conditions, an increase in the wage gap produces endogenous and perpetual business cycles. The introduction of the minimum wage is desirable in that it mitigates business cycle fluctuations. However, the introduction of an inappropriate minimum wage policy leads to a real wage and an employment rate that are lower than the steady state values.ja
dc.publisherElsevier B.V.ja
dc.rights© 2013 Elsevier B.V.ja
dc.rightsThis is not the published version. Please cite only the published version. この論文は出版社版でありません。引用の際には出版社版をご確認ご利用ください。ja
dc.subjectWage gapja
dc.subjectRegular and non-regular employmentja
dc.subjectMinimum wageja
dc.subjectDemand-led growth modelja
dc.titleThe macroeconomic effects of the wage gap between regular and non-regular employment and of minimum wagesja
dc.type.niitypeJournal Articleja
dc.identifier.jtitleStructural Change and Economic Dynamicsja
Appears in Collections:Journal Articles

Show simple item record

Export to RefWorks

Export Format: 

Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.