Technological Change in an Unstable Labor Market: A Dynamic System Approach
نویسندگان
چکیده
منابع مشابه
Technological Change, the Labor market and the Stock Market
This paper presents a model in which a partially anticipated technology shock results, in the short run, in lower investment and higher unemployment. Because of the expectation of future lower proÞts, the market value of existing Þrms and the wages they pay decreases before the new (better) technology becomes available. When the new technology arrives, the market value of new Þrms rises, aver...
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ژورنال
عنوان ژورنال: Journal of Economic Issues
سال: 2020
ISSN: 0021-3624,1946-326X
DOI: 10.1080/00213624.2020.1828727