REAL WAGES, INVESTMENT AND EMPLOYMENT - NEW EVIDENCE FROM WEST-GERMAN SECTORAL DATA

被引：4
|
作者：
FITZROY, F [1 ]
FUNKE, M [1 ]
机构：
[1] UNIV BERLIN,FAK WIRTSCHAFTSWISSENSCH,D-10178 BERLIN,GERMANY
来源：
WELTWIRTSCHAFTLICHES ARCHIV-REVIEW OF WORLD ECONOMICS | 1994年 / 130卷 / 02期
关键词：
D O I：
10.1007/BF02707709
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Non-separable capital adjustment costs imply that investment directly affects the demand for labour and therefore justify not only the lagged dependent variable but also the presence of investment expenditures or Tobin's valuation ratio Q in labour demand estimation. On this basis, the authors estimate a very parsimonious specification of demand for blue-collar workers in a panel of 32 West German industries. They find much larger short-run real wage employment elasticities than previous research, and robustly significant positive effects of investment or Tobin's Q on labour demand.
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页码：258 / 272
页数：15
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