Explaining cyclical movements in employment: Creative-destruction or changes in utilization?
نویسندگان
چکیده
منابع مشابه
Creative Destruction, Capital Accumulation, and Employment Cycles
A Schumpeterian growth model is constructed for an economy where wages are determined by union-firm bargaining. It is shown that the economy is subject to cycles in which capital, output and employment vary in fixed proportion. These increase through saving and capital accumulation until a new technology is introduced, at which moment they fall sharply due to obsolescence of capital. The labour...
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The interaction between income distribution, accumulation, employment and the utilization of capital is central to macroeconomic models in the `heterodox' tradition. This paper examines the stylized pattern of these variables using US data for the period after 1948. We look at the trends and cycles in individual time series and examine the bivariate cycical patterns among the variables. JEL cla...
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The Internet Domain Name System (DNS) is a hierarchical name space that enables the assignment of unique, mnemonic identifiers to Internet hosts and the consistent mapping of these names to IP addresses. The root of the domain name system is the top of the hierarchy and is currently managed by a quasi-private centralized regulatory authority, the Internet Corporation for Assigned Names and Numb...
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Industries where prices decline rapidly experience early ‘shakeouts’. Existing models of the shakeout do not explain this negative relation between price decline and time to shakeout. We set up a vintage-capital model that explains this relation, and we provide some evidence in support of the mechanism that we propose. The relation emerges naturally in a vintage-capital model in which shakeouts...
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ژورنال
عنوان ژورنال: Labour Economics
سال: 2009
ISSN: 0927-5371
DOI: 10.1016/j.labeco.2008.12.005