Embodied technical change and the fluctuations of wages and unemployment

The paper shows that a matching model where technological change is partially embodied in the job match is successful in explaining the variability of unemployment and vacancies. If we incorporate long-term wage contracts into the model, it also explains a number of stylized facts on the dynamics of real wages, which have been found in the empirical labor literature.

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Year of publication:	2006-10
Authors:	Reiter, Michael
Institutions:	Department of Economics and Business, Universitat Pompeu Fabra
Subject:	Unemployment \| wage dynamics \| embodied technical change

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Extent:	application/pdf
Series:	Economics Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Classification:	E24 - Employment; Unemployment; Wages ; E32 - Business Fluctuations; Cycles ; J64 - Unemployment: Models, Duration, Incidence, and Job Search
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005772185