Article ID Journal Published Year Pages File Type
5104517 Structural Change and Economic Dynamics 2017 9 Pages PDF
Abstract
We concentrate on the process of transition from the initial to a new equilibrium and consider both cases in which the process of transition is 'wage-led' and case in which it is 'profit-led'. In all cases, the dynamics of the economy is crucially affected by the firms' initial response to the shock and it is path-dependent.
Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Preview
Distribution and growth. A dynamic approach
Authors
, ,