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File2-page165 - Aghion et al(2003 Openness and Economic...

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Unformatted text preview: Aghion et al. (2003) Openness and Economic Performance CONSTRAINTS TO PRODUCTION POST-REFORM EQUILIBRIUM FIX PRICE STATE A (PRO-WORKER) Supply function in A STATE B (PRO-EMPLOYER) Supply function in B Production Production 1 1 CONSTRAINTS TO PRODUCTION P DD SS SS’ POST-REFORM EQUILIBRIUM WITH PRICE ADJUSTMENT Y STATE A (PRO-WORKER) STATE B (PRO-EMPLOYER) Production Supply function in A Supply function in B Production Production 1 Development Economics, LSE Summer School 2007 1 162 ...
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