Summary
Since 1971 the employment in the Netherlands has continuously decreased. Apart from the decrease caused by the recent depression, particularly in the year 1975, the decrease is a more pronounced continuation of a tendency which is manifest already in a number of years before. In this paper an attempt is made to explain the structural development of employment by means of a clay-clay vintage model. It appears that the unfavourable development of employment is connected with the accelerated growth of real labour costs in the past decade.
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This article is a translation of a revised and somewhat extended version of a paper published earlier in Dutch: H. den Hartog and H. S. Tjan,Investeringen, lonen, prijzen en arbeidsplaatsen, Central Planning Bureau, Occasional Paper, 1974/2, The Hague, 1974. This revised version of the clay-clay vintage model was introduced into a much more complete model of the economy of the Netherlands in: H. den Hartog, Th. C. M. J. van de Klundert and H. S. Tjan, ‘De structurele ontwikkeling van de werkgelegenheid in macro-economisch perspectief,’ inWerkloosheid, Preadviezen van de Vereniging voor de Staathuishoudkunde, The Hague, 1975.
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Den Hartog, H., Tjan, H.S. Investments, wages, prices and demand for labour. De Economist 124, 32–55 (1976). https://doi.org/10.1007/BF01675907
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DOI: https://doi.org/10.1007/BF01675907