Technological Progress, Downsizing and Unemployment  

Oleh:

Boone, Jan

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 110 no. 465 (2000), page 581-600.
Topik: TECHNOLOGICAL GROWTH; technological progress; downsizing; unemployment
Fulltext: 581.pdf (294.11KB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE28.2 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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This paper presents a model where the form of innovations is endogenous. It is shown that with labour market imperfections, which raise the wage above the shadow price of labour, firms over - invest in innovations cutting labour costs and under - invest in increasing quality. As a result, the market outcome features lower long run growth, higher unemployment and lower welfare than the social optimum. It is further shown that a firm's incentives to cut labour costs are increased as wages rise and as the firm declines. Finally, a rise in competition increases incentives to downsize for firms with below average quality performance.

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