Unemployment and Innovation Patterns. The role of business coordination and market Competition
The paper explores the institutional determinants of differences in European, Japanese and American unemployment and innovation pattern in a "comparative institutional analysis" perspective. Building on the definition of different modes of coordination among firms, the question is addressed as to how institutional settings affect firms' innovation strategy. A generalized efficiency wage model is developed determining both equilibrium unemployment and innovation. The mode of coordination is shown to affect firms' choice between radical and incremental innovations as well as firms' response (in terms of innovation strategy) to increased competitive pressure. Higher unemployment may result as a consequence of specialization along innovation trajectories.
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References listed on IDEAS
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- Philippe Aghion & Peter Howitt, 1994.
"Growth and Unemployment,"
Review of Economic Studies,
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- Masahiko Aoki, 2013.
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in: Comparative Institutional Analysis, chapter 5, pages 57-58
Edward Elgar Publishing.
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- repec:adr:anecst:y:1996:i:44:p:04 is not listed on IDEAS
- D. Gatti, 1997. "Flexible Technology, Unemployment and Effort: The Role of the Organization of the Firm," Working Papers ir97004, International Institute for Applied Systems Analysis.
- Layard, Richard & Nickell, Stephen & Jackman, Richard, 2005.
"Unemployment: Macroeconomic Performance and the Labour Market,"
Oxford University Press, number 9780199279173.
- Layard, Richard & Nickell, Stephen & Jackman, Richard, 1991. "Unemployment: Macroeconomic Performance and the Labour Market," OUP Catalogue, Oxford University Press, number 9780198284345.
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