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Titill:
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Capital investment and equilibrium unemploymentCapital investment and equilibrium unemployment |
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Höfundur:
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Jósef Sigurðsson 1985
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URI:
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http://hdl.handle.net/10802/4791
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Útgefandi:
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Central Bank of Iceland, Economics Department
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Útgáfa:
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02.2013 |
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Ritröð:
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Central Bank of Iceland., Working papers ; 61 |
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Efnisorð:
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Atvinnuleysi; Fjárfestingar; Ísland
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ISSN:
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1028-9445 |
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Tungumál:
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Enska
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Tengd vefsíðuslóð:
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https://www.cb.is/library/Skraarsafn---EN/Working-Papers/Working%20Paper%20No%2061.pdf
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Tegund:
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Skýrsla |
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Gegnir ID:
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991002906169706886
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Athugasemdir:
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Myndefni: línurit, töflur |
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Útdráttur:
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Econometric analysis of cross-country data reveals a robust long-term relationship between capital investment and unemployment. This paper studies this relationship within a search and matching model of the labor market. In the model developed, ?rms employ labor for two purposes: for production of a ?nal good and for production of capital. Quantitative analysis shows that an increase in growth of capital-production technology increases capital formation and employment in capital production, reducing unemployment in equilibrium. The model is therefore successful in generating the negative long-run investment-unemployment relationship found in macroeconomic data. |
