Unemployment Responses To Skill-Biased' Technology Shocks: The Role Of Labour Market Policy  

Oleh:

Mortensen, Dale T. ; Pissarides, Christopher

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 109 no. 455 (Apr. 1999), page 242-265.
Topik: market policy; the role of labour
Fulltext: 242.pdf (289.97KB)

Isi artikel

Do skill-biased shocks that increase the spread of labour productivities, interacting with different policy regimes, explain the rise in unemployment in Europe relative to the United States in the 1980s and 1990s? The hypothesis is an implication of a version of the Mortensen and Pissarides (1994) model of equilibrium unemployment which allows for worker heterogeneity. A calibrated version of the model implies that a similar unemployment increase would have occurred in the United States over this period, given changes in relative productivity by education implied by observed wage changes, had unemployment compensation and employment protection policies been at European levels.

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