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- Farm, Ante, 1943-
(författare)
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Labour demand and real wages
- 2017
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- This paper shows that the traditional model of labour demand in a firm is incomplete and that the determinants of labour demand in a complete model include the demand for the firm’s products but not the real wage.
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- Farm, Ante, 1943-
(författare)
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Market Sharing and Price Leadership
- 2009
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- This paper proposes an alternative to the traditional model of supply and demand in markets where consumers take prices as given. Within the framework of “no side payments and partial preplay communication” firms are assumed to decide non-cooperatively on production and marketing while the market price is set by a competitive price leader, i.e. a firm preferring the lowest market price. Predictions include excess supply and a revenuemaximizing market price in markets where production precedes sales. In markets where sales precede production competitive price leadership predicts monopoly pricing but not necessarily monopoly profits if firms are “sufficiently similar”, while the presence of firms with high costs or low capacities will make it possible for the price leader, in some circumstances, to increase its market share and also its profits by reducing its price. And the threat of costly competition for market shares may reduce the market price even for identical firms.
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- Farm, Ante, 1943-
(författare)
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Unemployment and Vacancies
- 2009
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- How can vacancy statistics be used to measure friction in job matching and the effects of friction on unemployment? First, measure deviations from instantaneous hirings by the average duration of recruitment as measured by the number of job vacancies divided by the number of hirings per month. Second, measure direct effects of recruitment times on employment by measuring unfilled jobs, defined as unoccupied job vacancies which are available immediately. Third, measure indirect effects of recruitment times on employment by estimating first the effect of recruitment times on product prices and then the effect of a price change on sales, production and employment. Fourth, measure ‘search ineffectiveness’ with potential effects on the NAIRU by the rate of unfilled jobs.
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