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Author: | Reiter, M. |
Title: | Embodied technical change and the fluctuations of unemployment and wages |
Journal: | Scandinavian Journal of Economics
2007 : VOL. 109:4, p. 695-721 |
Index terms: | labour markets unemployment volatility technological change pay models |
Language: | eng |
Abstract: | This study shows a matching model where technological change is partially embodied in the job match to be successful in explaining the variability of unemployment and vacancies. When including long-term wage contracts into the model, it also explains a stylized facts on the dynamics of real wages found in the empirical labour literature. |
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