Capital Expansion, Endogenous Growth and Equilibrium Unemployment
A model is developed, which captures the interactions of unemployment and economic growth in general equilibrium. The economy evolves along a correct-expectations equilibrium path exhibiting endogenous job rationing, and productivity growth is driven by installation of new capital. Under the maintai...
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
1998
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| Online Access: | https://ink.library.smu.edu.sg/soe_research/31 |
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| Institution: | Singapore Management University |
| Language: | English |