Quotation Kubin, Ingrid, Commendatore, Pasquale. 2009. Dynamic effects of regulation and deregulation in goods and labour markets. Oxford Economic Papers New Series. 61 (3), 517-538.


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Abstract

It has been argued in recent economic literature that deregulation in both product and labour markets has beneficial impacts on employment and on real wages. The results offered to support this argument, however, are controversial. So far the debate has been concerned with comparative static results. This paper reassesses the consequences of deregulation in a dynamic context. In our model—a dynamic counterpart of Blanchard and Giavazzi's prototype model—liberalisation in product and/or labour markets also increases the equilibrium employment and wage rates. However, with boundedly rational firms and trade unions, deregulation may generate endogenous fluctuations.

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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal Oxford Economic Papers New Series
Citation Index SSCI
WU Journalrating 2009 A
WU-Journal-Rating new FIN-A, VW-C
Language English
Title Dynamic effects of regulation and deregulation in goods and labour markets
Volume 61
Number 3
Year 2009
Page from 517
Page to 538
Reviewed? Y
URL https://doi.org/10.1093/oep/gpn019
DOI https://doi.org/10.1093/oep/gpn019
Open Access N

Associations

People
Kubin, Ingrid (Details)
External
Commendatore, Pasquale (Italy)
Organization
Research Institute for International Taxation FI (Details)
Department of Economics (Kubin) (Details)
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