Technological Change and Employment: Creative Destruction
نویسندگان
چکیده
منابع مشابه
Creative Destruction, Capital Accumulation, and Employment Cycles
A Schumpeterian growth model is constructed for an economy where wages are determined by union-firm bargaining. It is shown that the economy is subject to cycles in which capital, output and employment vary in fixed proportion. These increase through saving and capital accumulation until a new technology is introduced, at which moment they fall sharply due to obsolescence of capital. The labour...
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Building on a model of endogenous innovation à la Romer, we analyze the link between legal institutions, innovation and growth. As in Anderlini, Felli and Riboni (2007), we suppose that law-makers are benevolent and we compare two legal systems: a rigid system, where an uncontingent law is written in a statute ex ante (that is, before knowing the state of the technology that will take place) an...
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Industries where prices decline rapidly experience early ‘shakeouts’. Existing models of the shakeout do not explain this negative relation between price decline and time to shakeout. We set up a vintage-capital model that explains this relation, and we provide some evidence in support of the mechanism that we propose. The relation emerges naturally in a vintage-capital model in which shakeouts...
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ژورنال
عنوان ژورنال: The Indian Journal of Labour Economics
سال: 2018
ISSN: 0971-7927,0019-5308
DOI: 10.1007/s41027-018-0137-0