Product market competition, investment and employment-abundant versus job-poor growth: a real options perspective

Yu-Fu Chen, Michael Funke

    Research output: Working paperDiscussion paper

    194 Downloads (Pure)

    Abstract

    The role of product market reforms in achieving the objective of higher employment and growth has recently received much attention amongst academics. The aim of this paper is to analyse some of the channels through which cross-market effects come about and to assess their policy relevance. The analytic strategy of this paper relies upon the stochastic real options modelling approach. In a nutshell, our simulations using numerical methods indicate that comprehensive product market reforms would increase factor demand and growth significantly in the medium and long run.
    Original languageEnglish
    PublisherUniversity of Dundee
    Publication statusPublished - 2005

    Publication series

    NameDundee Discussion Papers in Economics
    PublisherUniversity of Dundee
    No.180
    ISSN (Print)1473-236X

    Keywords

    • Product market competition
    • Regulation
    • Real options
    • Investment
    • Employment

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