Technology, Unemployment and Efficiency
This paper analyzes technology choices and unemployment in search equilibrium. In contrast to standard search models, the presence of technology choices makes the decentralized equilibrium inefficient; there is too little investment in skills, too little job creation and there can be multiple equilibria. The paper also shows that technological progress is likely to be slower in labor markets where job tenure is low.
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|Date of creation:||1996|
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|Order Information:|| Postal: MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT), DEPARTMENT OF ECONOMICS, 50 MEMORIAL DRIVE CAMBRIDGE MASSACHUSETTS 02142 USA|
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- Acemoglu, Daron, 1995. "Public Policy in a Model of Long-Term Unemployment," Economica, London School of Economics and Political Science, vol. 62(246), pages 161-78, May.
- Daron Acemoglu, 1998.
"Changes in Unemployment and Wage Inequality: An Alternative Theory and Some Evidence,"
NBER Working Papers
6658, National Bureau of Economic Research, Inc.
- Daron Acemoglu, 1999. "Changes in Unemployment and Wage Inequality: An Alternative Theory and Some Evidence," American Economic Review, American Economic Association, vol. 89(5), pages 1259-1278, December.
- Acemoglu, D., 1996. "Changes in Unemployment and Wage Inequality: An Alternative Theory and Some Evidence," Working papers 96-15, Massachusetts Institute of Technology (MIT), Department of Economics.
- Acemoglu, Daron, 1996. "Changes in Unemployment and Wage Inequality: An Alternative Theory and Some Evidence," CEPR Discussion Papers 1459, C.E.P.R. Discussion Papers.
- Saint-Paul, G., 1992.
"Are the Unemployed Unemployable,"
DELTA Working Papers
92-04, DELTA (Ecole normale supérieure).
- Acemoglu, Daron, 1996. "A Microfoundation for Social Increasing Returns in Human Capital Accumulation," The Quarterly Journal of Economics, MIT Press, vol. 111(3), pages 779-804, August.
- Acemoglu, Daron, 1994.
"Search in the Labour Market, Incomplete Contracts and Growth,"
CEPR Discussion Papers
1026, C.E.P.R. Discussion Papers.
- Acemoglu, D., 1994. "Search in the Labor market: Incomplete Contracts and Growth," Working papers 94-23, Massachusetts Institute of Technology (MIT), Department of Economics.
- Aghion, Philippe & Howitt, Peter, 1991.
"Growth and Unemployment,"
CEPR Discussion Papers
577, C.E.P.R. Discussion Papers.
- Hosios, Arthur J, 1990. "On the Efficiency of Matching and Related Models of Search and Unemployment," Review of Economic Studies, Wiley Blackwell, vol. 57(2), pages 279-98, April.
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