Technology, Unemployment and Efficiency.

This paper analyzes technology choices and unemployment in search equilibrium. In contrast to standard search models, the presence of technology choices makes the decentralized equilibrium inefficient; there is too little investment in skills, too little job creation and there can be multiple equilibria. The paper also shows that technological progress is likely to be slower in labor markets where job tenure is low.

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Year of publication:	1996
Authors:	Acemoglu, D
Institutions:	Economics Department, Massachusetts Institute of Technology (MIT)
Subject:	TECHNOLOGY \| UNEMPLOYMENT \| EFFICIENCY

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Series:	Working papers.
Type of publication:	Book / Working Paper
Notes:	11 pages
Classification:	O33 - Technological Change: Choices and Consequences; Diffusion Processes ; J23 - Employment Determination; Job Creation; Demand for Labor; Self-Employment ; J64 - Unemployment: Models, Duration, Incidence, and Job Search
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005574416