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dc.creator Karanassou, Marika
dc.creator Snower, Dennis J.
dc.date 2004
dc.date.accessioned 2013-10-16T06:30:02Z
dc.date.available 2013-10-16T06:30:02Z
dc.date.issued 2013-10-16
dc.identifier German economic review 1465-6485 5 2004 3 297-317
dc.identifier doi:10.1111/j.1465-6485.2004.00110.x
dc.identifier http://hdl.handle.net/10419/3850
dc.identifier ppn:515984736
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/3850
dc.description This paper provides a critique of the ‘unemployment invariance hypothesis’, according to which the behavior of the labor market, by itself, ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity and the labor force. In the context of an endogenous growth model, we show that the labor market alone need not contain all the equilibrating mechanisms to ensure unemployment invariance; in particular, other markets may perform part of the equilibrating process as well. By implication, policies that raise the growth path of capital or increase the effective working-age population may influence the long-run unemployment rate.
dc.language eng
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject J21
dc.subject J23
dc.subject J30
dc.subject J38
dc.subject J64
dc.subject J68
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:article


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