Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: http://hdl.handle.net/10419/3111
Autoren: 
Karanassou, Marika
Snower, Dennis J.
Datum: 
2002
Schriftenreihe/Nr.: 
Working Paper No. 476
Zusammenfassung: 
This paper provides a critique of the "unemployment invariance hypothesis", according to which the behavior of the labor market ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity and the labor force. Using Solow growth and endogenous growth models, we show that the labor market alone need not contain all the equilibrating mechanisms to ensure unemployment invariance; in particular, other markets may perform part of the equilibrium process as well. By implication, policies that raise the growth path of capital or increase the effective working-age population may influence the long-run unemployment rate.
Schlagwörter: 
Unemployment
employment
wage determination
labor supply
capital accumulation
productivity
technological change
economic growth
JEL: 
J38
J30
J23
J21
J68
J64
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
320.6 kB





Publikationen in EconStor sind urheberrechtlich geschützt.