Productivity growth, on-the-job search, and unemployment
成果类型：
Article
署名作者：
Miyamoto, Hiroaki; Takahashi, Yuya
署名单位：
University of Mannheim
刊物名称：
JOURNAL OF MONETARY ECONOMICS
ISSN/ISSBN：
0304-3932
DOI：
10.1016/j.jmoneco.2011.11.007
发表日期：
2011
页码：
666-680
关键词：
摘要：
The impact of long-run productivity growth on unemployment is studied. We incorporate disembodied technological progress and on-the-job search into the endogenous job separation model of Mortensen and Pissarides (1994). Because we include on-the-job search, faster growth reduces unemployment by decreasing job separation and inducing job creation. The incorporation of on-the-job search substantially improves the ability of the Mortensen and Pissarides model to explain the effect of growth on labor market variables. Specifically, our model generates not only an empirically consistent sign of the effect, but also a larger impact of growth on unemployment than the standard matching model. (C) 2011 Elsevier B.V. All rights reserved.
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