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Labor market decisions and Greek manufacturing competitiveness
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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 | ||||
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Subjects: | H Social Sciences > HC Economic History and Conditions | ||||
Journal or Publication Title: | JOURNAL OF POLICY MODELING | ||||
Publisher: | ELSEVIER SCIENCE INC | ||||
ISSN: | 0161-8938 | ||||
Official Date: | July 1999 | ||||
Dates: |
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Volume: | 21 | ||||
Number: | 4 | ||||
Number of Pages: | 9 | ||||
Page Range: | pp. 505-513 | ||||
Publication Status: | Published |
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