In a neoclassical framework, one can argue that unemployment can be reduced by means of institutional changes that allow for a better working of the labor market and, notably, by achieving downward wage flexibility. The author argues that, although various policy recommendations about removing labor-market rigidities are indeed advantageous in the short run, they are detrimental from a Schumpeterian perspective since they discourage product and process innovation. Reduced innovation efforts will in turn weaken the supply-side strength of an economy. The paper explores the implications of Schumpeter's notion of creative destruction and of Schmookler's hypothesis of demand-pulled innovations, borrowing from recent empirical innovation research. Copyright 1998 by Oxford University Press.
Download Info
To our knowledge, this item is not available for
download. To find whether it is available, there are three
options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page
whether it is in fact available.
3. Perform a search for a similarly titled item that would be
available.
Contact details of provider: Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK Fax: 01865 267 985 Email: Web page: http://www.cje.oupjournals.org/
For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).
Related research
Keywords:
Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)
Did you know? You can import bibliographic info in various formats into you bibliographic tool, or just into your word processor. See under "publisher info" on each abstract page.