Mortensen, Dale T and Pissarides, Christopher (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) |
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| 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: | 15 Sep 2023 22:42 |
| URI: | http://eprints.lse.ac.uk/id/eprint/2085 |
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