Economic Growth, Structural Change, and Search Unemployment
Economic growth is driven by structural change. Structural change doer not come without a cost, the most evident social cost being high and persistent unemployment. This paper develops an economy with an endogenously expanding service sector, where the constant flow of workers in and out of employment relation leads to structural unemployment.
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|Date of creation:||2000|
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Web page: http://www.eui.eu/ECO/
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