This paper presents a general-equilibrium model of endogenous skilled-biased technological change and matching unemployment in a disaggregated economy. We simultaneously endogenise both the direction and pace of technological change as well as the unemployment rates. We show that an increase in...

This paper presents a general-equilibrium model of endogenous skilled-biased technological change and matching unemployment in a disaggregated economy. We simultaneously endogenise both the direction and pace of technological change as well as the unemployment rates. We show that an increase in...

This paper presents a general-equilibrium model of endogenous skilled-biased technological change and matching unemployment in a disaggregated economy. We simultaneously endogenise both the direction and pace of technological change as well as the unemployment rates. We show that an increase in...

We extend the standard quality-ladder model with heterogeneous workers by including efficiency wages and unions. We find that higher union bargaining power leads to a negative relationship between growth and unemployment. An increase in the supply of human capital, however, on the one hand...

We develop a dynamic general equilibrium model of education, quality and variety innovation, and scale-invariant growth. The early endogenous innovation-based growth models incorporate a scale effect predicting that larger economies are characterized by higher per capita growth rates. Recent...

We develop a dynamic stochastic general-equilibrium model of science, education and innovation to explain the simultaneous emergence of innovation clusters and stochastic growth cycles. Firms devote human-capital resources to research activities in order to invent higher quality products. The...

This paper examines optimal two-period financial contracts between firms in a product market on the one side and banks as creditors on the other side. Similar to the Bolton-Scharfstein contracts, banks can mitigate the moral hazard problem of truthfully revealing the ex ante unknown profits of...

This paper presents a general-equilibrium model of Innovation, endogenous growth, and unemployment in a disaggregated economy. Unemployment is analyzed w ithin a dual labor market setting, where the labor market is consisting of a primary high-wage and a secondary low-wage sector. The...