Migration equilibria disequilibria and the natural rate of unemployment in a regional context

Research output: Contribution to journalArticle

10 Citations (Scopus)

Abstract

In this article, we examine, in an explicitly system-wide context, the theory of regional equilibria in the presence of endogenous migration of the form specified in Layard et al. (1991) and Treyz et al. (1993), where net migration flows (relative to lagged labour force) are determined by real consumption wage and unemployment-rate differentials. Accordingly, we provide a theoretical analysis of the importance of both market-clearing and steady-state concepts of equilibrium for the regional labour market. In particular, we examine the impact of a stimulus to local demand, in the form of an injection of externally financed government expenditure. We focus on short- and 1ong-run comparative static equilibria and the adjustment paths which link them. Some issues are dealt with analytically, while others require simulation.
LanguageEnglish
Pages66-72
Number of pages6
JournalInternational Journal of Manpower
Volume16
Issue number2
DOIs
Publication statusPublished - 1995

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Personnel
Wages
Natural rate of unemployment
Disequilibrium
Market clearing
Simulation
Injection
Expenditure
Regional labour markets
Wage rate
Labor force
Theoretical analysis
Comparative statics
Unemployment rate

Keywords

  • conusmers
  • pay
  • unemployment

Cite this

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abstract = "In this article, we examine, in an explicitly system-wide context, the theory of regional equilibria in the presence of endogenous migration of the form specified in Layard et al. (1991) and Treyz et al. (1993), where net migration flows (relative to lagged labour force) are determined by real consumption wage and unemployment-rate differentials. Accordingly, we provide a theoretical analysis of the importance of both market-clearing and steady-state concepts of equilibrium for the regional labour market. In particular, we examine the impact of a stimulus to local demand, in the form of an injection of externally financed government expenditure. We focus on short- and 1ong-run comparative static equilibria and the adjustment paths which link them. Some issues are dealt with analytically, while others require simulation.",
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Migration equilibria disequilibria and the natural rate of unemployment in a regional context. / McGregor, P.G.; Swales, J.K.; Yin, Y.P.

In: International Journal of Manpower, Vol. 16, No. 2, 1995, p. 66-72.

Research output: Contribution to journalArticle

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