文章基本信息

标题：Productivity Growth and Employment: Theory and Panel Estimates
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作者：Christopher A. Pissarides ; Giovanna Vallanti
期刊名称：CEP Discussion Paper
出版年度：2004
卷号：2004
期号：12
出版社：Centre for Economic Performance
摘要：Theoretical predictions of the effect of TFP growth on employment are ambiguous, and depend on the extent to which new technology is embodied in new jobs. We estimate a model for employment, wages and investment with an annual panel for the United States, Japan and Europe and find that TFP growth increases employment. For the United States TFP growth explains the trend change in unemployment. We evaluate the model and find that creative destruction plays no part in aggregate unemployment dynamics. The model can explain up to half of the estimated impact of growth on unemployment.
关键词：TFP growth, employment, creative destruction, capitalization effect, unemployment dynamics, embodied technology