Lecture 7 15

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

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
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
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

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 + + + = *...
View Full Document

This note was uploaded on 04/03/2011 for the course ECON 2021 taught by Professor Mok during the Spring '11 term at HKU.

Ask a homework question - tutors are online