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Is There a Trade-Off between Employment and Growth?

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Author Info
Eriksson, Clas
Abstract

This paper investigates how unemployment and the long-run growth rate influence each other in steady state. It builds on Pissarides but Ramsey preferences are introduced, influencing the interest rate. A central finding is that there is a trade-off between successful growth and unemployment if one considers direct changes in the growth rate but, when the changes are indirect, what is good for growth is also good for employment. Thus to increase both growth and the employment rate, the policy implication seems to be that one should improve incentives (lower capital tax or unemployment benefits) rather than subsidize R&D incentives. Copyright 1997 by Royal Economic Society.

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Publisher Info
Article provided by Oxford University Press in its journal Oxford Economic Papers.

Volume (Year): 49 (1997)
Issue (Month): 1 (January)
Pages: 77-88
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Handle: RePEc:oup:oxecpp:v:49:y:1997:i:1:p:77-88

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  1. Bucci, Alberto & Fiorillo, Fabio & Staffolani, Stefano, 2001. "Can Market Power influence Employment, Wage Inequality and Growth ?," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2000030, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES). [Downloadable!]
    Other versions:
  2. Campbell leith & Chol-Won Li, 2001. "Unemployment and the Productivity Slowdown: A Labour Supply Perspective," Working Papers 2001_13, Department of Economics, University of Glasgow. [Downloadable!]
  3. Xavier Raurich & Valeri Sorolla, . "Unemployment and Wage Formation in a Growth Model with Public Capital," UFAE and IAE Working Papers 508.02, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC). [Downloadable!]
  4. Xavier Raurich & Valeri Sorolla, . "Long Run Unemployment, Growth And Inflation," UFAE and IAE Working Papers 455.00, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC). [Downloadable!]
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