Productivity and Unemployment in the Short and Long Run

Armon RezaiWilli Semmler
Written By SCEPA

POLICY NOTE

DOWNLOAD PDF

(116 KB)

The relationship between productivity growth and unemployment has been debated since the birth of classical economics.

Building on a previous study of Okun’s Law—the relationship between output growth and unemployment, where productivity is assumed to be constant—this SCEPA Policy Note discusses productivity changes and their effect on unemployment over the short and long run.

SCEPA
Previous

The Economic Fundamentals of Global Warming
Next

The Vast Majority Income (VMI)