Imperfect competition in regional labor-markets - a computable general equilibrium-analysis

F. Harrigan, P.G. McGregor, J.K. Swales, N. Dourmashkin

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Abstract

The system-wide impacts of imperfect competition in the regional labour market are examined by means of a macro - micro simulation model (AMOS) parameterised on Scottish data. A number of theories of the operation of the regional labour market are reviewed and it is indicated how these can be operationalised within AMOS through the adoption of different labour-market closures. Two sets of simulations are performed. The first involves nominal and real wage shocks to the regional economy. In the second, a demand disturbance is introduced under various labour-market closures. The sensitivity of the results to assumptions concerning the openness of the regional economy and the flexibility of the production technology is also discussed.
Original languageEnglish
Pages (from-to)1463-1481
Number of pages18
JournalEnvironment and Planning A
Volume24
Issue number10
DOIs
Publication statusPublished - Oct 1992

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Keywords

  • imperfect competition
  • general equilibrium-analysis
  • macro -micro simulation model
  • AMOS

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