Orsini, Raimondello
(1998)
The Labour Market As A Job-Seeking Contest: Human Capital, Intergenerational Mobility, and Growth.
Bologna:
Dipartimento di Scienze economiche DSE,
p. 29.
DOI 10.6092/unibo/amsacta/4977.
In: Quaderni - Working Paper DSE
(332).
ISSN 2282-6483.
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Abstract
With a fixed hierarchy of jobs, workers engage in a rent-seeking game based on their individual levels of human capital, in order to obtain high-paying positions in the social division of labour. The macroeconomic effects of the worker`s quest for privileged positions are studied through the numerical simulation of an OLG model with credit rationing and neural network expectations. The model shows that a higher turnover and higher meritocracy degree in the job-allocation mechanisms is bound to lead to greater economic growth.
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