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The Perverse Dynamics of Growth-Induced Unemployment

Author

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  • Postel-Vinay, F.

Abstract

This paper investigates and provides a comparison of the short- and long-run effects of technological progress on employment. It presents a simple standard model of matching unemployment that captures the negative creative destruction effects of technological change on employment. In the long-run, faster technological change implies faster job obsolescence, which is detrimental to the equilibrium level of employment.

Suggested Citation

  • Postel-Vinay, F., 1998. "The Perverse Dynamics of Growth-Induced Unemployment," Papiers d'Economie Mathématique et Applications 98.12, Université Panthéon-Sorbonne (Paris 1).
    • Handle: RePEc:fth:pariem:98.12
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    Citations

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    Cited by:

    1. Filippo Altissimo & Giovanni L. Violante, 2001. "The non-linear dynamics of output and unemployment in the U.S," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(4), pages 461-486.

    More about this item

    Keywords

    UNEMPLOYMENT ; TECHNOLOGICAL CHANGE ; ECONOMIC GROWTH;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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