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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP1945 |
DP1945 The Housing Market and Regional Commuting and Migration Choices | |
John Muellbauer; Gavin Cameron | |
发表日期 | 1998-08-31 |
出版年 | 1998 |
语种 | 英语 |
摘要 | In this paper we study how aggregate output responds to the arrival of a new General Purpose Technology (GPT) by looking at adjustment mechanisms that operate through labour markets. We show that under a wide set of circumstances the arrival of a new GPT that raises long-run output can trigger a recession in the short run. Furthermore, we characterize features of the GPT that produce a cyclical adjustment path. An initial recession occurs whenever a higher education level is required to operate the new GPT. But a recession can also occur when the new GPT has lower educational requirements. A cyclical adjustment path is more likely when inexperienced workers are less productive with the new technology and the faster productivity rises with experience in the new sector. |
主题 | International Trade and Regional Economics |
关键词 | Experience New technology Output adjustment Training |
URL | https://cepr.org/publications/dp1945 |
来源智库 | Centre for Economic Policy Research (United Kingdom) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531080 |
推荐引用方式 GB/T 7714 | John Muellbauer,Gavin Cameron. DP1945 The Housing Market and Regional Commuting and Migration Choices. 1998. |
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