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Should We Wait to 'Grow Out Of' Unemployment? The Implications of a Neoclassical Calibration Analysis

journal contribution
posted on 2023-05-16, 11:22 authored by Coleman, WO
The paper uses a Solow-Ramsey growth model to evaluate the effectiveness of growth as a remedy for unemployment in the face of a wage minimum. Plausible calibration of the model suggests that the elimination of 5% unemployment by the process of capital accumulation may take about 20 yr.

History

Publication title

The Economic Record

Volume

74

Issue

225

Pagination

162-169

ISSN

0013-0249

Department/School

TSBE

Publisher

Economic Society of Australia

Place of publication

Melbourne

Repository Status

  • Restricted

Socio-economic Objectives

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