Technology Adoption, Turbulence and the Dynamics of Unemployment

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dc.contributor.author DUERNECKER, Georg
dc.date.accessioned 2008-01-31T17:34:51Z
dc.date.available 2008-01-31T17:34:51Z
dc.date.issued 2008
dc.identifier.issn 1725-6704
dc.identifier.uri http://hdl.handle.net/1814/7925
dc.description.abstract The divergence of unemployment rates between the U.S. and Europe coincided with a substantial acceleration in capital-embodied technical change in the late 70’s. Furthermore, evidence suggests that European economies have been lagging behind the U.S. in the adoption and usage of new technologies. This paper argues that the pace of technology adoption plays a fundamental role for how an economy’s labor market reacts to an acceleration in capital-embodied growth. The framework proposed offers an appealing and novel explanation for the divergence of unemployment rates across economies that are hit by the very same shock (i.e. the acceleration in embodied technical change) but differ in their technology adoption behavior. Moreover, we challenge the conventional wisdom that high European unemployment is the result of institutional rigidities by claiming that institutions are not the principal cause per se but they rather amplify certain forces that promote the emergence of high unemployment. en
dc.language.iso en en
dc.publisher European University Institute
dc.relation.ispartofseries EUI ECO en
dc.relation.ispartofseries 2008/10 en
dc.subject J24 en
dc.subject J64 en
dc.subject O33 en
dc.subject Unemployment en
dc.subject Labor Market Search and Matching en
dc.subject Turbulence en
dc.subject Skill Loss en
dc.subject Technology Adoption en
dc.subject Training en
dc.title Technology Adoption, Turbulence and the Dynamics of Unemployment en
dc.type Working Paper en
dc.neeo.contributor DUERNECKER|Georg|aut|
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