학술저널
The Depressing Effect of Randomly Migrating Population on Wage Share
The Depressing Effect of Randomly Migrating Population on Wage Share
- 세종대학교 경제통합연구소
- Journal of Economic Integration
- 제8권 제1호
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1993.0389 - 99 (11 pages)
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In this paper, a stochastic framework is developed to study the effects of randomly migrating population. The analysis borrows a number of intrinsic characteristics from the classic Goodwin model. While Goodwin formalizes his model as a Lotka Volterra system, the present study converges into a stochastic version of the Lotka-Volterra system. In particular, it is shown that randomly migrating population has a depressing effect on wage share. The employment ratio, on the other hand, exhibits the natural rate property.
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