Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/104973 
Autor:innen: 
Erscheinungsjahr: 
2014
Schriftenreihe/Nr.: 
Kiel Working Paper No. 1978
Verlag: 
Kiel Institute for the World Economy (IfW), Kiel
Zusammenfassung: 
The standard search model of unemployment predicts, under plausible assumptions about household preferences, that disembodied technological progress leads to higher unemployment. This prediction is at odds with the experience of industrialized countries in the 1970s. This paper shows that augmenting the model with nominal price rigidity goes towards reconciling the model's prediction. In the presence of nominal price rigidity faster growth is shown to lead to lower unemployment if the rate of inflation is relatively high, as was the case in the 1970s. In general, the effect of growth on unemployment is shown to be non-monotonic. There is a threshold level of inflation below (above) which faster growth leads to higher (lower) unemployment.
Schlagwörter: 
growth
trend inflation
unemployment
JEL: 
E24
E31
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
226.51 kB





Publikationen in EconStor sind urheberrechtlich geschützt.