Growth and Unemployment: Towards a Theoretical Integration

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Abstract

We observe in the literature of the past decade some innovative contributions identified a relation between economic growth and long run unemployment. This set of contributions is composed of very few elements, all characterized by a high degree of heterogeneity about their features and about their final results. In the first part of the survey we provide a classification of these early contributions. In the second part we explore some alternative formulations of the problem and we present a wider set of models displaying interesting features, able to promote further studies about the persistence of unemployment in a growing economy.
Original languageEnglish
Pages (from-to)419-455
Number of pages37
JournalJournal of Economic Surveys
Volume17
Issue number3
Publication statusPublished - 2003

Keywords

  • Growth; unemployment; job-search; human capital; strategic comple- mentarities; co-ordination failure

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