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| Author: | Goldberg, K. Highfill, J. McAsey, M. |
| Title: | Technology choice: the output and employment tradeoff |
| Journal: | American Journal of Economics and Sociology
1998 : JAN, VOL. 57:1, p. 27-46 |
| Index terms: | TECHNOLOGY EMPLOYMENT ECONOMICS |
| Language: | eng |
| Abstract: | Suppose, unlike the endogenous growth literature, that technological innovation may actually create structural problems. If capital and labor inputs of specific skill levels are complementary, and new technology changes the skill mix needs, then this mismatch may create underemployment or unemployment. High-tech investment maximizes output but at the expense of unemployment of unskilled workers; lower-tech investment results in smaller unskilled labor employment, but a smaller increase in output. |
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