Economic Growth, Unemployment, and Business Cycles

Katsuhiko Hori
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Katsuhiko Hori: Institute of Economic Research, Kyoto University
Authors registered in the RePEc Author Service: 堀 勝彦 ()

No 2008-039, Keio/Kyoto Joint Global COE Discussion Paper Series from Keio/Kyoto Joint Global COE Program

Abstract: This paper explores relationships among economic growth, unemployment, and business cycles by constructing a model, which views the process of creative destruction as a major source of business cycles, as well as of economic growth. The main results are as follows: first, the long-run growth rate has a negative relationship with the amplitude of business cycles. Second, the growth rate has a negative connection with the frequency of slump. Third, a permanent shock causes unemployment, but a transitory shock leads to full employment.

Pages: 13 pages
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:kei:dpaper:2008-039

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