Dual Labor Markets: A Macroeconomic Perspective

摘要: Introduction: The U.S. debate on dual labour market the European over flexibility are rigidities that bad? flows and 'renovating economies' unemployment skills required technical background. Some background: an introduction to dynamic programming matching function. efficiency wage model: presentation of model cost dynamics demand aspects commitment introducing dualism. internal dualism volatility in persistent shocks. Efficiency wages segmented markets - empirical debate: competitive versus noncompetitive models interindustry differentials direct evidence Dualism, reform, macroeconomic performance: rigid world (regime A) flexible contracts available B) transition between two regimes business cycles effect two-tier systems demand. Appendix: derivation theoretical results. Impact formation: formation a setting underemployment case with full job protection incomplete full-employment impact markup formation. Dualism flows: facts about creation destruction from worker simulations do lead society? Skilled unskilled workers: basic productivity differential skill composition population regime role irreversibility. Human capital accumulation: simple learning-by-doing return education perspectives institutions economic growth political distributional issues. economy systems: as implementation device consensus support-building associated time-consistency problem analysis market.