Embodied technical progress and unemployment
نویسنده
چکیده
In this paper we build up a canonical vintage capital model with embodied and disembodied technical progress and generalized Nash bargaining in the labor market. First, we handle both types of technical progress as exogenous, but we endogenize them after. In these setups, we comprehensively study the relations between technical progress, unemployment, and job creation and destruction in the short and long run.
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