may have increased unemployment. It is shown that it is likely to be so if they are associated with an increase in the …

may have increased unemployment. It is shown that it is likely to be so if they are associated with an increase in the …

by investments in R&D performed in the high-wage sector. Unemployment is determined by the costs and benefits of waiting … for a high-paid job. The wage structure, growth, and unemployment are shown to depend on the way effort is extracted. …