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Adaptive Economizing, Technological Change, and the Demand for Labor in Disequilibrium

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  • Day, Richard H.

    (Research Institute of Industrial Economics (IFN))

  • Hanson, Kenneth A.

    (Research Institute of Industrial Economics (IFN))

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    Abstract

    An adaptive economizing framework is proposed for analyzing labor market aspects of long-term industrial development using a dynamic, disaggregate economic model based upon principles of bounded rationality and markets in disequilibrium. The approach is applied to a firm's investment-production planning problem to illustrate how labor demand is related to capital investment and technological change.

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    File URL: http://www.ifn.se/wfiles/wp/wp144.pdf
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    Bibliographic Info

    Paper provided by Research Institute of Industrial Economics in its series Working Paper Series with number 144.

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    Length: 36 pages
    Date of creation: Jul 1985
    Date of revision:
    Handle: RePEc:hhs:iuiwop:0144

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    Postal: Research Institute of Industrial Economics, Box 55665, SE-102 15 Stockholm, Sweden
    Phone: +46 8 665 4500
    Fax: +46 8 665 4599
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    Web page: http://www.ifn.se/
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    Related research

    Keywords: Adaptive framework; labour market; industrial development; disequilibrium; investment-production planning;

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    1. Hicks, John, 1977. "Economic Perspectives: Further Essays on Money and Growth," OUP Catalogue, Oxford University Press, Oxford University Press, number 9780198284079, October.
    2. Kaldor, Nicholas [Lord], 1976. "Inflation and Recession in the World Economy," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 86(344), pages 703-14, December.
    3. Day, Richard H., 1984. "Disequilibrium economic dynamics : A post-Schumpeterian contribution," Journal of Economic Behavior & Organization, Elsevier, vol. 5(1), pages 57-76, March.
    4. Williamson, Oliver E, 1981. "The Modern Corporation: Origins, Evolution, Attributes," Journal of Economic Literature, American Economic Association, vol. 19(4), pages 1537-68, December.
    5. Clower, Robert & Leijonhufvud, Axel, 1975. "The Coordination of Economic Activities: A Keynesian Perspective," American Economic Review, American Economic Association, vol. 65(2), pages 182-88, May.
    6. Simon, Herbert A., 1984. "On the behavioral and rational foundations of economic dynamics," Journal of Economic Behavior & Organization, Elsevier, vol. 5(1), pages 35-55, March.
    7. Malinvaud, Edmond, 1982. "Wages and Unemployment," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 92(365), pages 1-12, March.
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