Technological Progress, Employment and the Lifetime of Capital

Raouf Boucekkine (), Natali Hritonenko () and Yuri Yatsenko
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Natali Hritonenko: Prairie View A&M University

Chapter Chapter 13 in Sunspots and Non-Linear Dynamics, 2017, pp 305-337 from Springer

Abstract: Abstract We study the impact of technological progress on the level of employment in a vintage capital model where: (i) capital and labor are gross complementary; (ii) labor supply is endogenous and indivisible; (iii) there is full employment, and (iv) the rate of labor-saving technological progress is endogenous. We characterize the stationary distributions of vintage capital goods and the corresponding equilibrium values for employment and capital lifetime. It is shown that both variables are non-monotonic functions of technological progress indicators. Technological accelerations are found to increase employment provided innovations are not too radical.

Keywords: Vintage capital; Technological progress; Employment; Compensation theory; C61; D21; D92; O33 (search for similar items in EconPapers)
Date: 2017
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Related works:
Working Paper: Technological Progress, Employment and the Lifetime of Capital (2017)
Working Paper: Technological Progress, Employment and the Lifetime of Capital (2015)
Working Paper: Technological Progress, Employment and the Lifetime of Capital (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:spr:steccp:978-3-319-44076-7_13

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DOI: 10.1007/978-3-319-44076-7_13

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