| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP898 |
| DP898 On the Role of Banks in Enterprise Restructuring: The Polish Example | |
| Sweder van Wijnbergen | |
| 发表日期 | 1994-02-28 |
| 出版年 | 1994 |
| 语种 | 英语 |
| 摘要 | This paper studies a model of human capital accumulation with real wage rigidity. It is shown that the arbitrage condition between hiring a skilled versus an unskilled worker may be stated as a positive relationship between their relative unemployment rates. It may be the case that this locus is steep enough to generate increasing returns to education. This may lead to multiple equilibria: a high-education equilibrium may coexist with a low-education equilibrium. In the former, the unskilled are more exposed to unemployment relative to the skilled, as compared with the latter. The two equilibria cannot be Pareto-ranked, but the latter is preferred to the former by workers, while `savers' prefer the high-education equilibrium. |
| 主题 | International Macroeconomics |
| 关键词 | Education Multiple equilbria Unemployment Wage rigidity |
| URL | https://cepr.org/publications/dp898 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530044 |
| 推荐引用方式 GB/T 7714 | Sweder van Wijnbergen. DP898 On the Role of Banks in Enterprise Restructuring: The Polish Example. 1994. |
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