haku: @author Howitt, P. / yhteensä: 13
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| Tekijä: | Aghion, P. Howitt, P. |
| Otsikko: | Growth and Unemployment |
| Lehti: | Review of Economic Studies
1994 : JUL, VOL. 61(3):208, p. 477-494 |
| Asiasana: | ECONOMICS UNEMPLOYMENT GROWTH |
| Kieli: | eng |
| Tiivistelmä: | This paper analyzes the effects of growth on long-run unemployment using a search model of equilibrium unemployment where growth arises explicitly from the introduction of new technologies that require labour reallocation for their implementation. The analysis uncovers and compares between two competing effects of growth on unemployment. The first is a capitalization effect, whereby an increase in growth raises the capitalised returns from creating jobs and consequently reduces the equilibrium rate of unemployment. |
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