Technological progress

Mortensen, Dale T and Pissarides, Christopher ORCID: 0000-0002-0695-058X (1995) Technological progress. CEP discussion paper; CEPDP0264 (264). London School of Economics and Political Science. Centre for Economic Performance, London, UK.

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Abstract

We generalize apparently contradictory results in the literature about the effect of exogenous technological progress on unemployment. We assume that new technology can be adopted either through creative job destruction or through onthe- job implementation at a cost. We show that there is a critical level of implementation cost where the effect of growth on employment switches from positive to negative at higher costs. In extensions of the model we show that gross job reallocation can increase at faster growth with no clear-cut effects on aggregate employment.

Item Type:	Monograph (Discussion Paper)
Official URL:	http://cep.lse.ac.uk
Additional Information:	© 1995 D.T.Mortensen and C.A.Pissarides
Divisions:	Centre for Economic Performance Economics
Subjects:	T Technology > T Technology (General) H Social Sciences > HD Industries. Land use. Labor
Date Deposited:	27 Apr 2007
Last Modified:	11 Dec 2024 18:21
URI:	http://eprints.lse.ac.uk/id/eprint/2085

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