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Technological progress, income distr...

Adachi, Hideyuki.

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Technological progress, income distribution, and unemployment = theory and empirics /

Record Type:	Electronic resources : Monograph/item
Title/Author:	Technological progress, income distribution, and unemployment/ by Hideyuki Adachi ... [et al.].
Reminder of title:	theory and empirics /
other author:	Adachi, Hideyuki.
Published:	Singapore :Springer Singapore : : 2019.,
Description:	xi, 90 p. :ill., digital ;24 cm.
[NT 15003449]:	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.
Contained By:	Springer eBooks
Subject:	Macroeconomics. -
Online resource:	https://doi.org/10.1007/978-981-13-3726-0
ISBN:	9789811337260

Technological progress, income distribution, and unemployment = theory and empirics /
Technological progress, income distribution, and unemploymenttheory and empirics /[electronic resource] :by Hideyuki Adachi ... [et al.]. - Singapore :Springer Singapore :2019. - xi, 90 p. :ill., digital ;24 cm. - Kobe University social science research series,2520-1697. - Kobe University social science research series..

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.

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.

ISBN: 9789811337260

Standard No.: 10.1007/978-981-13-3726-0doiSubjects--Topical Terms:

648810
Macroeconomics.

LC Class. No.: HB172.5

Dewey Class. No.: 339

Technological progress, income distribution, and unemployment = theory and empirics /
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505 0 $a 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.
520 $a 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.
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