Embodied technical change and the fluctuations of unemployment and wages

Michael Reiter

Research output: Contribution to journalArticle

Abstract

A matching model where technological change is partially embodied in the job match is shown to be successful in explaining the variability of unemployment and vacancies. If we incorporate long-term wage contracts into the model, it also explains a number of stylized facts on the dynamics of real wages, which have been found in the empirical labor literature.

Original languageEnglish (US)
Pages (from-to)695-721
Number of pages27
JournalScandinavian Journal of Economics
Volume109
Issue number4
DOIs
StatePublished - Dec 1 2007

Keywords

  • Embodied technical change
  • Unemployment
  • Wage dynamics

ASJC Scopus subject areas

  • Economics and Econometrics

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