Scholarly Works - Book sections
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2012
I present a model where firms and workers set wages above the market-clearing level. Unemployment is thus generated by their exercise of market power. Because both the labor and product markets are imperfectly competitive, market power in the labor market ...
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Book section
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1998
Growth theorists have produced a number of interesting models investigating the idea that technological progress, the engine of growth in income per capita, is endogenous to the economic system and driven by market forces. These models are radically differ ...
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