Embodied technical change and the fluctuations of wages and unemployment

Reiter, Michael

Embodied technical change and the fluctuations of wages and unemployment

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Citation

Reiter, M. Embodied technical change and the fluctuations of wages and unemployment. 2006. handle: http://hdl.handle.net/10230/861

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Abstract

The paper shows that a matching model where technological change is partially embodied in the job match is successful in explaining the variability of unemployment and vacancies. If we incorporate long-term wage contracts into the model, it also explains a number of stylized facts on the dynamics of real wages, which have been found in the empirical labor literature.