The impact of TFP growth on steady-state unemployment

被引：63
作者：
Pissarides, Christopher A. [1 ]
Vallanti, Giovanna [1 ]
机构：
[1] Univ London London Sch Econ & Polit Sci, Ctr Econ Performance, London WC2 2AE, England
来源：
INTERNATIONAL ECONOMIC REVIEW | 2007年 / 48卷 / 02期
基金：
英国经济与社会研究理事会;
关键词：
D O I：
10.1111/j.1468-2354.2007.00439.x
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Theoretical predictions of the impact of total factor productivity (TFP) growth on unemployment are ambiguous, and depend on the extent to which new technology is embodied in new jobs. We evaluate a model with embodied and disembodied technology, capitalization, and creative destruction effects. In econometric estimates with a panel of industrial countries we find a large negative impact of TFP growth on unemployment, which implies that embodied technology and creative destruction play no role in the steady-state dynamics of unemployment. Capitalization effects explain some of the estimated impact but a part remains unexplained.
引用
收藏
页码：607 / 640
页数：34
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