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dc.creator Karanassou, Marika
dc.creator Snower, Dennis J.
dc.date 2002
dc.date.accessioned 2013-10-16T06:14:22Z
dc.date.available 2013-10-16T06:14:22Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/2802
dc.identifier ppn:352717793
dc.identifier ppn:352717793
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/2802
dc.description This paper provides a critique of the ?unemployment invariance hypothesis,? according to which the behavior of the labor market ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity, and the labor force. Using Solow growth and endogenous growth models, we show that the labor market need not contain all the equilibrating mechanisms to ensure unemployment invariance and that other markets may perform part of the equilibrating process as well. By implication, policies that stimulate investment and R&D and policies that affect the size of the labor force may influence the long-run unemployment rate. Layard-Nickell-Jackman ?invariance condition? for labor market systems. This condition is meant to ensure that unemployment is not trended in response to growth in the capital stock, the labor force, or productivity.
dc.language eng
dc.publisher Forschungsinstitut zur zukunft der Arbeit Bonn
dc.relation IZA Discussion paper series 530
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject J21
dc.subject J68
dc.subject J64
dc.subject J38
dc.subject J30
dc.subject J23
dc.subject ddc:330
dc.subject unemployment
dc.subject employment
dc.subject wage determination
dc.subject labor supply
dc.subject capital accumulation
dc.subject productivity
dc.subject technological change
dc.subject economic growth
dc.subject Natürliche Arbeitslosigkeit
dc.subject Arbeitsmarkttheorie
dc.subject Investition
dc.subject Technischer Fortschritt
dc.subject Wachstumstheorie
dc.subject Neue Wachstumstheorie
dc.subject Theorie
dc.title Unemployment invariance
dc.type doc-type:workingPaper


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