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| Moller, Joachim. |
| The aim of the paper is to develop a theoretical framework for analyzing regional adjustment processes after idiosyncratic shocks. The model builds on the macroeconomic approach with monopolistic competition on goods and labor markets. It is shown how interregional factor mobility affects wage-setting behavior and labor supply. The dynamics of this extended model are explicitly taken into account. For a special case we can derive the characteristics of the adjustment process analytically. Under certain conditions the model exhibits hysteresis, i.e. temporary shocks on the price level or the unemployment rate can have a permanent effect on production and potential labor supply. It is argued that a suitable method for investigating regional adjustment... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Regional adjustments; Wage formation; Wage-price spiral; Migration; Regional unemployment; Hysteresis; Labor and Human Capital; J30. |
| Ano: 2001 |
URL: http://purl.umn.edu/26180 |
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| Niebuhr, Annekatrin. |
| The findings of recent studies on adjustment processes suggest that regional labour markets in the EU and the US differ significantly. Low wage flexibility and limited labour mobility in European countries involve persistent unemployment differentials across regions. However, the spatial dimension of regional labour market problems is largely neglected in the corresponding analyses. In contrast, the present paper focuses on the spatial structure of regional unemployment disparities. Regions are tightly linked by migration, commuting and interregional trade. These types of spatial interaction are exposed to frictional effects of distance, possibly causing spatial dependence of regional labour market conditions. Spatial association of regional unemployment... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Regional unemployment; Spatial interaction; Spatial econometrics; Europe; Labor and Human Capital; C21; E24; R12. |
| Ano: 2002 |
URL: http://purl.umn.edu/26147 |
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