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Abstract

This chapter reviews options of labour market modelling in a CGE framework. On the labour supply side, two principal modelling options are distinguished and discussed: aggregated, representative households and microsimulation based on individual household data. On the labour demand side, we focus on the substitution possibilities between di_x001b_erent types of labour in production. With respect to labour market coordination, we discuss several wage-forming mechanisms and involuntary unemployment.

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