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Technological Progress, Employment and the Lifetime of Capital

Author

Listed:
  • Raouf Boucekkine

    (GREQAM - Groupement de Recherche en Économie Quantitative d'Aix-Marseille - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique)

  • Natali Hritonenko

    (Prairie View - Texas A&M University System)

  • Yuri Yatsenko

    (School of business, Houston Baptist University - Houston Baptist University)

Abstract

We study the impact of technological progress on the level of employment in a vintage capital model where: i) capital and labor are gross complementary; ii) labor supply is endogenous and indivisible; iii) there is full employment, and iv) the rate of labor-saving technological progress is endogenous. We characterize the stationary distributions of vintage capital goods and the corresponding equilibrium values for employment and capital lifetime. It is shown that both variables are non-monotonic functions of technological progress indicators. Technological accelerations are found to increase employment provided innovations are not too radical.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Raouf Boucekkine & Natali Hritonenko & Yuri Yatsenko, 2017. "Technological Progress, Employment and the Lifetime of Capital," Post-Print hal-01505781, HAL.
    • Handle: RePEc:hal:journl:hal-01505781
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    JEL classification:

    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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