Technological Progress, Income Distribution, and Unemployment

Theory and Empirics

Hideyuki Adachi, Kazuyuki Inagaki, Tamotsu Nakamura, Yasuyuki Osumi (Autoren)

Buch | Softcover

90 Seiten

2019 | 1st ed. 2019
Springer Verlag, Singapore
978-981-13-3725-3 (ISBN)

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This volume develops original methods of analyzing biased technological progress in the theory and empirics of economic growth and income distribution. Motivated by sharp increases in wage and income inequalities in the world since the beginning of the new century, many macroeconomists have begun to realize the importance of biased technological changes. However, the comprehensive explanations have not yet appeared. This volume analyzes the effects of factor-biased technological progress on growth and income distribution and shows that long-run trends of the capital-income ratio and capital share of income consistent with Piketty’s 2014 empirical results emerge. Incorporating the modified version of induced innovation theory into the standard neoclassical growth model, it also explains the long-run fluctuations of growth and income distribution consistent with the data shown in Piketty. Introducing a wage-setting function, the neoclassical growth model is modified to account for unemployment as well as to examine the dynamics of unemployment and the labor share of income under biased technological progress. Applying a new econometric method to Japanese industrial data, the authors test the key assumptions employed and important results derived in the theoretical part of this book.

1 Growth and Income Distribution Under Biased Technological Progress.- 2 Growth and Income Distribution under Induced Innovation.- 3 Technological Progress and Unemployment.- 4 Empirical Analysis of Biased Technological Progress.- 5 Concluding Remarks.- References.

Erscheinungsdatum	12.11.2018
Reihe/Serie	Kobe University Social Science Research Series
Reihe/Serie	SpringerBriefs in Economics
Zusatzinfo	2 Illustrations, color; 23 Illustrations, black and white; XI, 90 p. 25 illus., 2 illus. in color.
Verlagsort	Singapore
Sprache	englisch
Maße	155 x 235 mm
Themenwelt	Wirtschaft ► Betriebswirtschaft / Management ► Unternehmensführung / Management
	Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
	Wirtschaft ► Volkswirtschaftslehre ► Ökonometrie
Schlagworte	Capital-saving) technological progress • Efficiency coefficients • Elasticity of substitution between labor and capital • Induced innovation • Labor (Capital) share of income • Labor-saving technological progress • Unemployment
ISBN-10	981-13-3725-X / 981133725X
ISBN-13	978-981-13-3725-3 / 9789811337253
Zustand	Neuware