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The estimation method
Potential labour demand
4 other sections not shown
A.W. Phillips actual demand actual labour demand actual labour supply actual supply actual unemployment approximation assume assumption average growth rate capital stock chapter coefficient of determination coefficients computation contractual working hours demand and potential demand and supply demand for labour dependent working population derived determination disequilibrium analysis economic obsolescence empirical equation ex post external migration factors frictional unemployment frontier workers impact investment labour force labour market labour productivity list of symbols loss in potential macro-economic man-years natural logarithms Netherlands non-wage conditions o o o oldest vintage ooooo ooooo ooooo operating rate overtime parameters participation rate population corrected potential demand potential labour demand potential labour supply potential supply potential terms potential unemployment ratio potential variables product supply production capacity production function rate of potential real wages right-hand side sample period side of eq Substitution of eqs supply of products swung dash tanh(z technical deterioration tion total labour