Unemployment Dynamics

9511916格林伍德这个项目解决了一个问题：为什么会有失业？一方面，新技术的采用和旧技术的放弃之间的关系；另一方面，通过建立一个拥有老式物质和人力资本的模式，创造新的就业机会和摧毁旧的就业机会。我们的目标是构建一个模型，能够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含义。这个模型被用来评估经常用于减少结构性失业的分配影响的政策的效果。重点将特别放在讨论社会保障计划对失业的影响，如欧洲国家实施的计划，以及旨在鼓励新技术投资的新产业政策。该项目还分析了商业周期背景下的摩擦性失业。这项分析将旨在解释劳动力市场总量的周期性特征。最后一个模型探讨了企业在使用内部资金和外部资金之间面临不平凡的融资决策的情况下的投资动态。该模型与观察到的公司倾向于不频繁地大量利用外部融资的观察是一致的。此外，该模型可以潜在地解释，与小公司相比，大公司更密集地使用外部融资。这个框架被用来研究中介作用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. ??