Technology, unemployment and efficiency
AbstractThis paper analyzes technology choices and unemployment in search equilibrium. In contrast to standard search models, the presence of technology choices makes the decentralized equilibrium inefficient; there is too little investment in skills, too little job creation and there can be multiple equilibria. The paper also shows that technological progress is likely to be slower in labor markets where job tenure is low.
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Bibliographic InfoArticle provided by Elsevier in its journal European Economic Review.
Volume (Year): 41 (1997)
Issue (Month): 3-5 (April)
Contact details of provider:
Web page: http://www.elsevier.com/locate/eer
Other versions of this item:
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
- J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
- J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search
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