A Theory of Efficient Business Cycles and Unemployment

This paper introduces job-shifting costs and durable producer goods into a framework with consumer-producers, economies of specialized learning by doing and transaction costs, developed by Yang and Borland [1991] to explore the intimate relationship among the following three phenomena simultaneously: (1) Long-run endogenous, efficient, and regular business cycles, (2) Long-run endogenous, efficient and cyclical unemployment, and (3) Long-run and endogenous growth.

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Year of publication:	1998
Authors:	Yang, X.
Institutions:	Harvard Institute for International Development (HIID), Kennedy School of Government
Subject:	BUSINESS CYCLES \| UNEMPLOYMENT \| ECONOMIC GROWTH

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Series:	Harvard - Institute for International Development.
Type of publication:	Book / Working Paper
Notes:	36 pages
Classification:	E24 - Employment; Unemployment; Wages ; E32 - Business Fluctuations; Cycles
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005638926