production and labor market behavior formally demonstrate how productivity could lead to a recovery that occurs without an increase in employment.

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A number of economists have suggested that the nature of the business cycle in the United States may Show more A number of economists have suggested that the nature of the business cycle in the United States may be changing. That is jobless recoveries are not going to be unusual anymore the nature of the business cycle in the modern technology-driven economy is different now than other times. Using a rigorous model of production and labor market behavior formally demonstrate how productivity could lead to a recovery that occurs without an increase in employment. In fact it may also be associated with higher unemployment rates. Use detailed graphical analysis. Show less

 

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