Paper #980

Título:

Embodied technical change and the fluctuations of wages and unemployment

Autor:

Michael Reiter

Data:

Octubre 2006

Resumen:

The paper shows that a matching model where technological change is partially embodied in the job match is successful in explaining the variability of unemployment and vacancies. If we incorporate long-term wage contracts into the model, it also explains a number of stylized facts on the dynamics of real wages, which have been found in the empirical labor literature.

Palabras clave:

Unemployment, wage dynamics, embodied technical change

Códigos JEL:

E24, E32, J64

Área de investigación:

Macroeconomía y Economía Internacional

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