Human Capital and the Regional Italian Growth: Why Does Unemployment Matter?

Luciano Mauro

Rivista di Politica Economica, 2002, vol. 92, issue 5, 127-154

Abstract: In this paper we propose a growth model with an imperfect labor market in which the accumulation of human capital is the output of a learning-by-doing process where scholastic knowledge must be combined with working experience. The dynamic steady state of the model implies a negative relationship between long run growth and equilibrium unemployment rate. Along the transitional dynamics, economies starting with a relative human capital

Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:rpo:ripoec:v:92:y:2002:i:5:p:127-154

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