Growth, Wealth and the Natural Rate: Is the Jobs Crisis a Growth Crisis?
The effect of faster technical progress is studied in our labour-turnover model of the natual rate of unemployment. In its closed economy version, the model implies that, in the limit, as the steady-growth rate is approached, the increase in the rate of progress is neutral for the natural unemployme...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
1995
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/soe_research/63 |
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| Institution: | Singapore Management University |
| Language: | English |