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Interpreting Europe and US Labor Markets Differences: The Specificity of Human Capital Investments
Wasmer, Etienne - 2002
little employment protection and low unemployment benefits, while the European model (generous benefits and higher duration …
Persistent link: https://www.econbiz.de/10010262696
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Steady-State Growth and the Elasticity of Substitution
Irmen, Andreas - 2010
In a neoclassical economy with endogenous capital- and labor-augmenting technical change the steady-state growth rate of output per worker is shown to increase in the elasticity of substitution between capital and labor. This confirms the assessment of Klump and de La Grandville (2000) that the...
Persistent link: https://www.econbiz.de/10011422204
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Growth, distance to frontier and composition of human capital
Vandenbussche, Jérôme; Aghion, Philippe; Meghir, Costas - 2004
We examine the contribution of human capital to economy-wide technological improvements through the two channels of innovation and imitation. We develop a theoretical model showing that skilled labor has a higher growth-enhancing effect closer to the technological frontier under the reasonable...
Persistent link: https://www.econbiz.de/10010292939
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Technological Change, Human Capital Structure, and Multiple Growth Paths
Kim, Yong Jin; Lee, Jong-Wha - 2009
This paper presents a theoretical model to analyze the effects of technology change on growth rates of income and human capital in the uncertain environments of technology. The uncertainty comes from two sources; the possibility of a technology advance and the characteristics of new...
Persistent link: https://www.econbiz.de/10010507250
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Education, Growth, and Redistribution in the Presence of Capital Flight
Chakrabarty, Debajyoti; Chanda, Areendam; Ghate, Chetan - 2006
We construct an overlapping generations model to study the effect of capital controls on human capital investments and the incidence of redistributive politics in a growing economy. We argue that the conventional wisdom linking higher capital controls to lower growth is reproduced only when an...
Persistent link: https://www.econbiz.de/10010263568
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Unemployment invariance
Karanassou, Marika; Snower, Dennis J. - 2002
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 … equilibrating mechanisms to ensure unemployment invariance and that other markets may perform part of the equilibrating process as …
Persistent link: https://www.econbiz.de/10010265548
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Unemployment invariance
Karanassou, Marika; Snower, Dennis J. - 2002
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 equilibrating mechanisms to ensure unemployment invariance; in particular, other markets may perform part of the …
Persistent link: https://www.econbiz.de/10010281026
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Is there a policy of optimal wage and income differentiation? A macroeconomic perspective
Sell, Friedrich L. - 2000
most likely responsible for a considerable part of European unemployment. …
Persistent link: https://www.econbiz.de/10010300409
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Sustainable economic development and the environment: Theory and evidence
Bertinelli, Luisito; Strobl, Eric; Zou, Benteng - 2005
The relationship between growth and pollution is studied through a vintage capital model, where new technology is more environmentally friendly. We find that once the optimal scrapping age of technologies is reached, an economy may achieve two possible cases of sustainable development, one in...
Persistent link: https://www.econbiz.de/10010272619
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The Evolution of the Literature on Technological Change over time: A Survey
Conte, Andrea - 2006
the development of a more general theory of the determinants and the effects of TC. In turn, such theory has to deal …
Persistent link: https://www.econbiz.de/10010263572