Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/39694
Authors: 
Nusser, Michael
Year of Publication: 
1998
Series/Report no.: 
BERG working paper series on government and growth 26
Abstract: 
The approach put forward in this article is based on Schumpeter`s idea of creative destruction, the competitive process by which entrepreneurs are always looking for new ideas that will render their rivals` ideas obsolete. By focusing explicity on innovation as an economic activity with different economic causes and effects, this article tries to open the door to a deeper understanding of how labor market rigidities in form of wage structure rigidities affect longrun growth through their effects on economic agent`s incentives to engage in innovative or more generally knowledge-producing activities. That is, to the extent that wage structure rigidities limits the ability of a successful innovator to capture monopoly rents from his or her innovations, it will be harmful to growth and employment.
Subjects: 
innovation
labor market rigidity
wage (structure) rigidity
economic growth
unemployment
ISBN: 
3931052087
Document Type: 
Working Paper

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