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Unemployment and the Replacement Ratio. Some Reduced Form Estimates

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<mark>Journal publication date</mark>1981
<mark>Journal</mark>Economics Letters
Issue number4
Number of pages6
Pages (from-to)349-354
Publication StatusPublished
<mark>Original language</mark>English


Conventional estimates of the effects of the replacement ratio on unemployment treat output as exogenous. A reduced form approach is proposed which avoids this and results in a much reduced elasticity of unemployment with respect to the replacement ratio.