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- W2913304540 abstract "Much of the literature on growth and unemployment has emphasized the of the increasing pace of technological progress on job instability and wage inequality. But less attention has been placed on how the change in the very nature of work, due to technical change, affects the rate of job destruction, and hence the level of unemployment. We argue that technological progress modifies learning and, through general equilibrium effects, unemployment and wage dispersion. In the context of the canonical Mortensen and Pissarides [Rev. Econ. Dynam. (1998) 733] model, we show that, in a routine world, this on-the-job learning effect can offset the creative destruction induced by an increase in the pace of technological change on unemployment, whereas it can amplify it as jobs become less routine. Moreover, the relationship between wage dispersion and growth can be non monotone. This finding helps explain the wage compression/expansion observed in time series data. © 2004 Elsevier Inc. All rights reserved." @default.
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- W2913304540 date "2004-01-01" @default.
- W2913304540 modified "2023-09-27" @default.
- W2913304540 title "Pace versus type: The effect of economic growth on unemployment and wage patterns" @default.
- W2913304540 hasPublicationYear "2004" @default.
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