Macroeconomists are usually interested in the following questions. How are aggregate labour market outcomes: unemployment, job vacancies, and employment determined as equilibrium phenomena? Why do unemployed workers and unfilled vacancies coexist? Suppose that the government can operate 𝐺 firms, subject to the same constraints as private firms. The government also incurs the same cost (𝑘) to post a vacancy and pays the same wages (𝑤) as private firms. Discuss the possible effects of 𝐺 on the labour market tightness, the labour force, the number of private firms and the aggregate output in the economy. Use the Diamond-Mortensen-Pissarides (DMP) model to answer the above questions. [50 marks] Note: Use equations and graphs in your answer ONLY if you want to use them. Type of assignment: coursework Subject: Economics Pages: 4/1100 The post How are aggregate labour market outcomes: unemployment, job vacancies, and employment determined as equilibrium phenomena appeared first on BoomEssayWriters.
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