The Wage Curve in Austrian Models

CSWP 3 (June 2014)

Author Christian Bidard

Keywords Austrian model, long run, trade-off property, wage curve

JEL B53, D24, D33

We fully characterise, in terms of their local or global properties, the wage curves associated
with Austrian models of production. When these properties are met, the degrees of
freedom in the choice of parameters allow us to build an Austrian model which admits a
given wage curve and satisfies other requirements.

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