The market for labour in Israel

Michael Beenstock, Sigal Ribon1

Research output: Contribution to journalArticlepeer-review

5 Scopus citations

Abstract

Using annual observations for 1960-89, a complete econometric model of the Israeli labour market is estimated in which the demand for labour varies inversely with real wages, participation varies directly with real wages and real wages are explained by a Phillips curve in which the natural rate of unemployment is a variable. The model suggests that while wages are far from flexible, unemployment shocks die away fairly rapidly. We were unable to model the behaviour of public sector pay and employment.

Original languageEnglish
Pages (from-to)971-982
Number of pages12
JournalApplied Economics
Volume25
Issue number7
DOIs
StatePublished - Jul 1993

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