| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10359 |
| DP10359 A Model of Market and Political Power Interactions for Southern Europe | |
| Tryphon Kollintzas; Vanghelis Vassilatos; Dimitris Papageorgiou | |
| 发表日期 | 2015-01-25 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | In recent years the growth pattern of most Southern European countries has been disturbed, as those countries are suffering from economic crises that go beyond the usual business cycle. In this paper, we develop a dynamic general equilibrium model of market and political power interactions that explains this growth reversal. Moreover, the model is consistent with several stylized facts of those countries, where wages in the public sector relative to the private sector are high and these wage differentials correlate negatively with public sector employment over total employment, total factor productivity, and output growth. The model is a synthesis of the insiders-outsiders labor market structure and the concept of an elite government. Outsiders form a group of workers that supply labor to a competitive private sector. And, insiders form a group of workers that enjoy market power in supplying labor to the public sector and influence the policy decisions of government, including those that affect the development and maintenance of public sector infrastructures. |
| 主题 | International Macroeconomics ; Public Economics |
| 关键词 | Growth Insiders - outsiders Politicoeconomic equilibrium Public sector wage premium Southern european economies |
| URL | https://cepr.org/publications/dp10359 |
| 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/539190 |
| 推荐引用方式 GB/T 7714 | Tryphon Kollintzas,Vanghelis Vassilatos,Dimitris Papageorgiou. DP10359 A Model of Market and Political Power Interactions for Southern Europe. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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