G2TT
来源类型Discussion paper
规范类型论文
来源IDDP1945
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
URLhttps://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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