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 language | English |
|---|---|
| Pages (from-to) | 1463-1481 |
| Number of pages | 18 |
| Journal | Environment and Planning A |
| Volume | 24 |
| Issue number | 10 |
| DOIs | |
| Publication status | Published - Oct 1992 |
Keywords
- imperfect competition
- general equilibrium-analysis
- macro -micro simulation model
- AMOS
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