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Differences in wage-determination systems between regular and non-regular employment in a Kaleckian model*

Ryunosuke Sonoda and Hiroaki Sasaki

Keywords: wage gap; regular and non-regular employment; demand-led growth model

In this study, we build a Kaleckian model incorporating institutional differences between the wage determination of regular employment and that of non-regular employment. In our model, three types of wage-bargaining regimes are defined based on how regular workers’ collective wage bargaining affects the real wage rate of non-regular workers. We investigate the stability conditions of the dynamical system under each combination of demand regimes and wage-bargaining regimes. We also conduct comparative static analysis and show that the effects of changes in the parameters are diverse depending on combinations of demand regimes and wage-bargaining regimes.

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