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| Author: | Eriksson, C. |
| Title: | Is there a trade-off between employment and growth |
| Journal: | Oxford Economic Papers
1997 : JAN, VOL. 49:1, p. 77-88 |
| Index terms: | ECONOMICS EMPLOYMENT GROWTH |
| Language: | eng |
| Abstract: | This paper investigates how unemployment and the long-run growth rate influence each other in steady state. It builds on Pissarides but Ramsey preferences are introduced, influencing the interest rate. A central finding is that there is a trade-off between successful growth and unemployment if one considers direct changes in the growth rate, but when the changes are indirect, what is good for growth is also good for employment. Thus to increase both growth and employment rate, the policy implication seems to be that one should improve incentives rather than subsidize R&D incentives. |
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