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Productivity and Unemployment in the Short and Long Run

Willi Semmler () and Armon Rezai

No 2007-04, SCEPA policy note series. from Schwartz Center for Economic Policy Analysis (SCEPA), The New School

Abstract: The relationship between productivity growth and unemployment has been debated since the birth of classical economics. Building on a previous study of Okun’s Law—the relationship between output growth and unemployment, where productivity is assumed to be constant—this SCEPA Policy Note discusses productivity changes and their effect on unemployment over the short and long run.

Keywords: Productivity; Unemployment; Short Run; Long Run (search for similar items in EconPapers)
JEL-codes: D63 E21 H2 H30 (search for similar items in EconPapers)
Pages: 3 pages
Date: 2007-12
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