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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/18024| Title: | Production Constraints and the NAIRU |
| Keywords: | C23 D24 E22 E24 ddc:330 Capital labour constraints NAIRU panel data structural breaks Natürliche Arbeitslosigkeit Kapitalproduktivität Arbeitsproduktivität Panel Strukturbruch Verarbeitendes Gewerbe Großbritannien |
| Issue Date: | 16-Oct-2013 |
| Publisher: | Kiel Institute for the World Economy (IfW) Kiel |
| Description: | This paper argues that the production constraints in the basic NAIRU model should be distinguished by type: capital constraints and labour constraints. It notes the failure to incorporate this phenomenon in standard macro models. Using panel data for UK manufacturing over 80 quarters we show that capital constraints became relatively more important during the 1980s as industry failed to match the increase in labour flexibility with rising capital investment. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/18024 |
| Other Identifiers: | Economics: The Open-Access, Open-Assessment E-Journal 2 2008-11 1-15 doi:10.5018/economics-ejournal.ja.2008-11 doi:10.5018/economics-ejournal.ja.2008-11 http://hdl.handle.net/10419/18024 ppn:561927375 http://www.economics-ejournal.org/economics/journalarticles/2008-11 RePEc:zbw:ifweej:7260 |
| Appears in Collections: | EconStor |
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