| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w8022 |
| 来源ID | Working Paper 8022 |
| Technological Change, the Labor Market and the Stock Market | |
| Rodolfo E. Manuelli | |
| 发表日期 | 2000-11-01 |
| 出版年 | 2000 |
| 语种 | 英语 |
| 摘要 | This paper presents a model in which a partially anticipated technological shock results, in the short-run, in lower investment and higher unemployment. Because of the expectation of future lower profits, the market value of existing firms --and the wages they pay-- decrease before the technology becomes available. When the new technology arrives, the market value of new firms rises, investment and average wages increase, but endogenous gradual adoption results in temporary wage dispersion among identical workers. The model shows that the factors that affect the rate of adoption of a new technology also influence the cross sectional dispersion of labor earnings among identical workers, and firms' market values. The predictions of the model seem to be broadly consistent with the U.S. experience of the last thirty years. |
| 主题 | Macroeconomics ; Consumption and Investment ; Labor Economics ; Unemployment and Immigration |
| URL | https://www.nber.org/papers/w8022 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/565613 |
| 推荐引用方式 GB/T 7714 | Rodolfo E. Manuelli. Technological Change, the Labor Market and the Stock Market. 2000. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w8022.pdf（382KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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