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Job Creation, Technological Innovation and Adjustment Costs: Evidence from a Panel of British Firms

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  • Costas Meghir
  • Annette Ryan
  • John Van Reenen

Abstract

This paper examines the impact of technological change on net job creation. Innovation (by a company or its rivals) can affect many dimensions of a firm's employment decision and we distinguish between three: changes due to higher output, changes due to shifting factor intensities and changes in the adjustment costs of firms. The parameter estimates from a structural labour demand model suggest that firms with a higher stock of innovations face lower adjustment costs than less technologically progressive firms. There is no significant capital deepening effect from innovation, nor spillover effects on employment from innovations elsewhere in the firm's industry.

Suggested Citation

  • Costas Meghir & Annette Ryan & John Van Reenen, 1996. "Job Creation, Technological Innovation and Adjustment Costs: Evidence from a Panel of British Firms," Annals of Economics and Statistics, GENES, issue 41-42, pages 255-274.
    • Handle: RePEc:adr:anecst:y:1996:i:41-42:p:255-274
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    File URL: http://www.jstor.org/stable/20066471
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    Cited by:

    1. Yann Nicolas & Claude Mathieu, 2006. "Coûts d'ajustement de la demande de travail : une comparaison entre la France et la République tchèque," Économie et Prévision, Programme National Persée, vol. 173(2), pages 135-152.
    2. Agnes Kügler & Klaus Friesenbichler & Jürgen Janger, 2023. "Innovationen und Investitionen österreichischer Unternehmen in der Krise," WIFO Studies, WIFO, number 70681, February.
    3. César Alonso-Borrego & Dolores Collado, 2002. "Innovation and Job Creation and Destruction . Evidence from Spain," Recherches économiques de Louvain, De Boeck Université, vol. 68(1), pages 148-168.
    4. Desiderio Romero-Jordán & María Delgado-Rodríguez & Inmaculada Álvarez-Ayuso & Sonia Lucas-Santos, 2014. "Assessment of the public tools used to promote R&D investment in Spanish SMEs," Small Business Economics, Springer, vol. 43(4), pages 959-976, December.
    5. Bernhard Dachs & Martin Hud & Christian Köhler & Bettina Peters, 2016. "Employment Effects of Innovations over the Business Cycle: Firm-Level Evidence from European Countries," DEM Discussion Paper Series 16-20, Department of Economics at the University of Luxembourg.
    6. Emmanuel Dhyne & Catherine Fuss & Claude Mathieu, 2015. "Labour Demand Adjustment: Does Foreign Ownership Matter?," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 77(6), pages 854-871, December.
    7. Daria Ciriaci & Pietro Moncada-Paternò-Castello & Peter Voigt, 2016. "Innovation and job creation: a sustainable relation?," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 6(2), pages 189-213, August.
    8. Karoly Fazekas & Jeno Koltay (ed.), 2003. "The Hungarian Labour Market 2003," The Hungarian Labour Market Yearbooks, Institute of Economics, Centre for Economic and Regional Studies, number 2003, December.

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