The depressing effect of randomly migrating population on wage share

Prof. YEUNG Wing Kay, David

The depressing effect of randomly migrating population on wage share

Author(s)

Prof. YEUNG Wing Kay, David

Date Issued

1993

Journal

Journal of Economic Integration

ISSN

1225-651X

1976-5525

Citation

Journal of Economic Integration, Spring 1993, vol. 8(1), pp. 89-99.

URI

http://hdl.handle.net/20.500.11861/6514

Type

Peer Reviewed Journal Article

Abstract

In this paper, a stochastic framework is developed to study the effects of randomly migrating population. The analysis borrows a number of intrinsic characteristics from the classic Goodwin model. While Goodwin formalizes his model as a Lotka Volterra system, the present study converges into a stochastic version of the Lotka-Volterra system. In particular, it is shown that randomly migrating population has a depressing effect on wage share. The employment ratio, on the other hand, exhibits the natural rate property.

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The depressing effect of randomly migrating population on wage share

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