Maurizio Pugno

Crescita economica e disoccupazione: recenti sviluppi teorici

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In the received theory the "natural" rate of growth (Solow) and the "natural" rate of unemployment (Friedman) are independent. Recently, this dichotomy has been reformulated by employing the hypothesis of the trade union. This paper will show, however, that various attempts are emerging in the literature to drop this dichotomy. The key-hypotheses are: technological complementarity between capital accumulation and employment, search costs in the labour market, implementation costs of new techniques, endogenous growth theory, strategic complementarity between human capital accumulation and employment. The main results concern the conditions which make the relationship between growth and unemployment negative or positive; the theorical weakening of "natural" rate of unemployment; the emergence of various forms of inefficiency.

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