UNSPECIFIED (1999) Labor market decisions and Greek manufacturing competitiveness. JOURNAL OF POLICY MODELING, 21 (4). pp. 505-513. ISSN 0161-8938

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Abstract

Starting from a Vector Error-Correction Model (VECM), we identify a long-run labor demand equation, with employment being proportional to both value added and product wages. The system supports weak exogeneity of output and product wages with respect to the long-run parameters in the cointegrating space. It also highlights structural rigidities in the functioning of the Creek labor market. Strike activity raises employment in the short-run, while unemployment benefits have negative short-run effects. (C) 1999 Society of Policy Modeling. Published by Elsevier Science Inc.

Item Type:	Journal Article
Subjects:	H Social Sciences > HC Economic History and Conditions
Journal or Publication Title:	JOURNAL OF POLICY MODELING
Publisher:	ELSEVIER SCIENCE INC
ISSN:	0161-8938
Date:	July 1999
Volume:	21
Number:	4
Number of Pages:	9
Page Range:	pp. 505-513
Publication Status:	Published
URI:	http://wrap.warwick.ac.uk/id/eprint/14210

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