ISSN:
1467-9914
Source:
Blackwell Publishing Journal Backfiles 1879-2005
Topics:
Economics
Notes:
: This essay aims at presenting a quantitative assessment of the incidence of structural differences in output and employment composition, and of differential dynamics of the sectoral production and productivity, in order to explain the divergences in net employment growth in advanced market economies. The point of reference is the extremely divergent record, in terms of employment creation, of the United States on one hand, and Western European countries on the other. In the period 1973-80, for example, although the average growth rates of GNP were, on a cyclical average, similar in the U. S. A. and the EEC areas as a whole, additional job openings were about 14 million in the USA against less than half a million in the EEC.A structural, medium-run differential in the aggregate Employment/GNP elasticity appears to have characterized the performances of these economic systems. The 'source’of this differential are analyzed, utilizing a model of sectoral decomposition of employment and output trends. Simulation exercises are carried out, in order to assess the specific role of productivity, sectoral demand composition and sectoral employment composition, in determining the overall elasticity result. The comparative analysis takes into consideration the differential factors for the USA and Japan, together with the four major Western European countries (German Fed. Rep., France, Italy, and the United Kingdom).
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1111/j.1467-9914.1987.tb00114.x
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