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Lecture 7 15 - Competition from abroad The job separation...

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Job Separation Rate (s) Job separations are made up of quits, temporary layoffs and redundancies Changes in workers’ preferences Job destruction: Obsolescence of jobs (due to technology changes) Changes in the relative price of inputs
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Unformatted text preview: Competition from abroad The job separation rate is exogenous in our model, because of its relative stability over long periods of time and difficulty of modelling it precisely. f s b s b u + + + = *...
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