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- W2057856088 abstract "Abstract This paper deals with normative and positive aspects of labour transfer processes in the context of a small open two-sector economy. Labour is not homogenous in the short run because transfer of labour is assumed to involve training costs in terms of output foregone when workers already possessing industry-specific knowledge are training new workers. The efficient transfer plan for this economy is characterized, and the determinants of the optimal rate of transfer derived. Upon examination of the competitive price system supporting the efficient plan, the first-best adjustment assistance policy is found, assuming real wages are sticky." @default.
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- W2057856088 date "1984-03-01" @default.
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- W2057856088 title "Intersectoral transfer of labour in a small open economy" @default.
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- W2057856088 doi "https://doi.org/10.1016/0014-2921(84)90110-7" @default.
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