Transactions Costs, Frictional Unemployment and Technical Change in the Market Technology
构建了一个单部门增长模型，其中要素市场摩擦由市场技术描述，该技术将失业要素数量与新工作岗位数量联系起来。作者探讨了该技术中技术变革的影响，重点关注效率，并发现两者关系取决于市场技术的劳动密集度。
The authors consider a one-sector growth model in which factor-market frictions are described by a market technology linking the number of unemployed factors to the number of new jobs. They explore the consequences of technical change in this technology, focusing on the impact on efficiency, and find that the relationship between the two depends on the labor intensity of the market technology. The authors also compare technical change in the market and production technologies and find that the relative importance of the two depends on the labor intensity of the market technology and the elasticity of factor supplies. Copyright 1995 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.