Unemployment Dynamics

这个项目解决了这个问题：为什么会有失业？一方面，采用新技术和抛弃旧技术之间的关系，另一方面，创造新的就业机会和破坏旧的就业机会之间的关系，通过构建一个具有古老的物质和人力资本的模型。目标是建立一个模型，可以有效地组织从跨国比较中获得的关于结构性失业的现有证据，并提出进一步的可检验的影响。该模型用于评估经常用于减少结构性失业的分配效应的政策的效果。会议将特别强调讨论诸如欧洲国家实施的社会保护计划和旨在鼓励对新技术投资的新工业政策对失业的影响。该项目还分析了商业周期背景下的摩擦性失业。分析的目的是解释劳动力市场总量的周期性特性。最后一个模型探讨了企业在使用内部和外部资金之间面临重要融资决策的情况下的投资动态。该模型与观察结果一致，即企业倾向于在不频繁的时间间隔内大量利用外部融资。此外，该模型可以潜在地解释大型公司比小型公司更密集地使用外部资金的原因。该框架用于研究中介与增长和商业周期之间的关系。？?

9511916 Greenwood This project addresses the question: Why is there unemployment? The relationship between the adoption of new technologies and the abandonment of old ones, one the one hand, and creation of new jobs and the destruction of old ones, on the other, by constructing a model with vintage physical and human capital. The goal is to construct a model that can usefully organize the existing evidence on structural unemployment obtained from cross-national comparisons, as well as suggest further testable implications. This model is used to evaluate the effects of the policies that are frequently used to reduce the distributional effects of structural unemployment. Particular emphasis will be placed on discussing the effects on unemployment of social protection programs such as those implemented in European countries, and of new industrial policies aimed at encouraging investment in new technologies. The project also analyzes frictional unemployment in a business cycle setting. The analysis will be aimed at explaining the cyclical properties of labor market aggregates. The last model explores the dynamics of investment in a setting in which firms face a non-trivial financing decision between the use of internal and external funds. The model is consistent with the observation that firms tend to utilize external financing in large lumps at infrequent intervals. Additionally, the model can potentially explain the more intensive use of external finance by large, as compared to small, firms. This framework is used to study the relationship between intermediation on the one hand, and growth and business cycles on the other. ??