상세검색
최근 검색어 전체 삭제
다국어입력
즐겨찾기0
145074.jpg
KCI등재 학술저널

The Depressing Effect of Randomly Migrating Population on Wage Share

The Depressing Effect of Randomly Migrating Population on Wage Share

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.