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References (3)
-
E. Malinvaud (1981)
Profitability and unemployment -
E. Malinvaud (1978)
The theory of unemployment reconsidered -
C. Bean, P. Layard, S. Nickell (1986)
The rise in unemployment: a multi-country studyEconomica, 53
- Publisher
- Oxford University Press
- Copyright
- Copyright © 2015 Cambridge Political Economy Society
- ISSN
- 0309-166X
- eISSN
- 1464-3545
- DOI
- 10.1093/cje/23.4.413
- Publisher site
- See Article on Publisher Site
Abstract
Many economists believe that capital accumulation, technical progress and labour force expansion have no lasting effect on unemployment. This view rests on the empirically doubtful assumption that the elasticity of substitution between labour and capital is equal to unity (i.e., production is Cobb-Douglas). Using a simple model based on the work of Layard, Nickell and Jackman, this paper demonstrates that, with a lower elasticity of substitution, the equilibrium unemployment rate is affected by all of the above factors. It considers briefly how capital accumulation may be endogenised and what long-run implications this has for unemployment. Keywords: Unemployment, Capital, Elasticity of substitution, Bargaining, Technical progress. Oxford University Press « Previous | Next Article » Table of Contents This Article Camb. J. Econ. (1999) 23 (4): 413-425. doi: 10.1093/cje/23.4.413 » Abstract Free Full Text (PDF) Free Classifications Article Services Article metrics Alert me when cited Alert me if corrected Find similar articles Similar articles in Web of Science Add to my archive Download citation Request Permissions Citing Articles Load citing article information Citing articles via CrossRef Citing articles via Scopus Citing articles via Web of Science Citing articles via Google Scholar Google Scholar Articles by Rowthorn, R. Search for related content Related Content E23 - Production E24 - Employment; Unemployment; Wages; Intergenerational Income Distribution E25 - Aggregate Factor Income Distribution O33 - Technological Change: Choices and Consequences; Diffusion Processes Load related web page information Share Email this article CiteULike Delicious Facebook Google+ Mendeley Twitter What's this? Search this journal: Advanced » Current Issue November 2015 39 (6) Alert me to new issues The Journal About this journal Rights & Permissions Dispatch date of the next issue We are mobile – find out more This journal is a member of the Committee on Publication Ethics (COPE) Published on behalf of The Cambridge Political Economy Society Impact factor: 1.311 5-Yr impact factor: 1.627 Managing Editor Jacqui Lagrue View full editorial board For Authors Instructions to authors Self- archiving policy Submit Now! 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Journal
Cambridge Journal of Economics – Oxford University Press
Published: Jul 1, 1999