Technology, Unemployment and Efficiency

Daron Acemoglu

Working papers from Massachusetts Institute of Technology (MIT), Department of Economics

Abstract: This paper analyzes technology choices and unemployment in search equilibrium. In contrast to standard search models, the presence of technology choices makes the decentralized equilibrium inefficient; there is too little investment in skills, too little job creation and there can be multiple equilibria. The paper also shows that technological progress is likely to be slower in labor markets where job tenure is low.

Keywords: TECHNOLOGY; UNEMPLOYMENT; EFFICIENCY (search for similar items in EconPapers)
JEL-codes: J23 J64 O33 (search for similar items in EconPapers)
Pages: 11 pages
Date: 1996
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Journal Article: Technology, unemployment and efficiency (1997)
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