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The Impact of Disembodied Technological Progress on Unemployment

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Author Info
Julien Prat (Universitaet Wien)
Abstract

This paper studies the relationship between disembodied technological progress and unemployment in a standard search-matching model. We find that the sign of the correlation crucially depends on the degree of idiosyncratic uncertainty. The analysis uncovers a new effect whereby an increase in growth intensifies the endogenous rate of job separation because it raises the workers' outside option. For plausible parameter values, the outside option effect outweighs the capitalization effect, so that disembodied technological progress increases the rate of unemployment. (Copyright: Elsevier)

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File URL: http://dx.doi.org/10.1016/j.red.2006.09.003
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Article provided by Elsevier for the Society for Economic Dynamics in its journal Review of Economic Dynamics.

Volume (Year): 10 (2007)
Issue (Month): 1 (January)
Pages: 106-125
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Handle: RePEc:red:issued:06-11

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Related research
Keywords: Growth; Unemployment; Search-matching; Uncertainty;

Find related papers by JEL classification:
E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
J64 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Unemployment: Models, Duration, Incidence, and Job Search
O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

Cited by:
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  1. Hiroaki Miyamoto & Yuya Takahashi, 2009. "Technological Progress, On-the-Job Search, and Unemployment," ISER Discussion Paper 0734, Institute of Social and Economic Research, Osaka University. [Downloadable!]
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This page was last updated on 2009-10-28.

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