Productivity and unemployment : an ABM approach

We investigate the relationship between productivity and unemployment with an ABM approach. In particular, we use the framework of Riccetti et al. (2015) to run computer simulations considering different levels of productivity and analyse the corresponding effects on unemployment. The simulation res...

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Autores principales: Fernández-Márquez, Carlos Manuel., Fuentes, Matías Nicolás., Martínez, Juan José, Vázquez Hernández, Francisco Jose.
Formato: acceptedVersion Artículo
Lenguaje:Inglés
Publicado: Springer-Verlag GmbH Germany, part of Springer Nature 2020
Materias:
PRODUCTIVITY
UNEMPLOYMENT
ECONOMUIC POLICY
LABOUR MARKET
INFLATION
Acceso en línea:http://ri.unsam.edu.ar/handle/123456789/2756
Aporte de:
Repositorio Institucional de la UNSAM de Universidad Nacional de General San Martín
id I78-R216-123456789-2756
record_format dspace
spelling I78-R216-123456789-27562025-04-30T17:46:16Z Productivity and unemployment : an ABM approach Fernández-Márquez, Carlos Manuel. Fuentes, Matías Nicolás. Martínez, Juan José Vázquez Hernández, Francisco Jose. PRODUCTIVITY UNEMPLOYMENT ECONOMUIC POLICY LABOUR MARKET INFLATION info:eu-repo/semantics/acceptedVersion We investigate the relationship between productivity and unemployment with an ABM approach. In particular, we use the framework of Riccetti et al. (2015) to run computer simulations considering different levels of productivity and analyse the corresponding effects on unemployment. The simulation results show the emergence of a fluctuating pattern of the unemployment rate, the public deficit and the inflation rate as functions of productivity. The marked pattern of the unemployment rate in the model is empirically validated by the OECD database. This unexpected oscillating behaviour remains in subsequent simplifications of the baseline model. Thus, our approach allows us to explain the productivity-employment linkage as an emergent macroeconomic property of a complex system. We conclude that economic policies aimed at increasing labour productivity could have unintended side effects on the unemployment rate, the government deficit and the inflation rate, which should be explored and taken into account before the policy is implemented. Fil: Fernández-Márquez, Carlos Manuel. Universidad Autónoma de Madrid. Departamento de Análisis Económico. Economía Cuantitativa ; Madrid, España. Fil: Fuentes, Matías Nicolás. Universidad Nacional de San Martín. Centro de Investigación en Economía Teórica y Matemática Aplicada (CIETyMA). San Martín, Buenos Aires, Argentina. Fil: Martínez, Juan José. Universidad Nacional de San Martín. Centro de Investigación en Economía Teórica y Matemática Aplicada (CIETyMA) ; San Martín, Buenos Aires, Argentina. Fil: Vázquez Hernández, Francisco Jose. Universidad Autónoma de Madrid. Departamento de Análisis Económico. Economía Cuantitativa ; Madrid, España. 2020-04-06 info:eu-repo/semantics/article info:ar-repo/semantics/artículo Fernández-Márquez, C. M., Fuentes, M. N., Martínez, J. J. y Vázquez Hernández, F. J. (2021). Productivity and unemployment: an ABM approach. J Econ Interact Coord 16, 133–151. https://doi.org/10.1007/s11403-020-00287-1 EEYN_CIETYMA_2020_1860-711X_16_133–151 http://ri.unsam.edu.ar/handle/123456789/2756 eng info:eu-repo/semantics/openAccess http://creativecommons.org/licenses/by-nc-sa/2.5/ar/ Creative Commons Atribución-NoComercial-CompartirIgual 2.5 Argentina (CC BY-NC-SA 2.5) application/pdf 30 p. application/pdf Springer-Verlag GmbH Germany, part of Springer Nature https://doi.org/10.1007/s11403-020-00287-1
institution Universidad Nacional de General San Martín
institution_str I-78
repository_str R-216
collection Repositorio Institucional de la UNSAM
language Inglés
topic PRODUCTIVITY
UNEMPLOYMENT
ECONOMUIC POLICY
LABOUR MARKET
INFLATION
spellingShingle PRODUCTIVITY
UNEMPLOYMENT
ECONOMUIC POLICY
LABOUR MARKET
INFLATION
Fernández-Márquez, Carlos Manuel.
Fuentes, Matías Nicolás.
Martínez, Juan José
Vázquez Hernández, Francisco Jose.
Productivity and unemployment : an ABM approach
topic_facet PRODUCTIVITY
UNEMPLOYMENT
ECONOMUIC POLICY
LABOUR MARKET
INFLATION
description We investigate the relationship between productivity and unemployment with an ABM approach. In particular, we use the framework of Riccetti et al. (2015) to run computer simulations considering different levels of productivity and analyse the corresponding effects on unemployment. The simulation results show the emergence of a fluctuating pattern of the unemployment rate, the public deficit and the inflation rate as functions of productivity. The marked pattern of the unemployment rate in the model is empirically validated by the OECD database. This unexpected oscillating behaviour remains in subsequent simplifications of the baseline model. Thus, our approach allows us to explain the productivity-employment linkage as an emergent macroeconomic property of a complex system. We conclude that economic policies aimed at increasing labour productivity could have unintended side effects on the unemployment rate, the government deficit and the inflation rate, which should be explored and taken into account before the policy is implemented.
format acceptedVersion
Artículo
Artículo
author Fernández-Márquez, Carlos Manuel.
Fuentes, Matías Nicolás.
Martínez, Juan José
Vázquez Hernández, Francisco Jose.
author_facet Fernández-Márquez, Carlos Manuel.
Fuentes, Matías Nicolás.
Martínez, Juan José
Vázquez Hernández, Francisco Jose.
author_sort Fernández-Márquez, Carlos Manuel.
title Productivity and unemployment : an ABM approach
title_short Productivity and unemployment : an ABM approach
title_full Productivity and unemployment : an ABM approach
title_fullStr Productivity and unemployment : an ABM approach
title_full_unstemmed Productivity and unemployment : an ABM approach
title_sort productivity and unemployment : an abm approach
publisher Springer-Verlag GmbH Germany, part of Springer Nature
publishDate 2020
url http://ri.unsam.edu.ar/handle/123456789/2756
work_keys_str_mv AT fernandezmarquezcarlosmanuel productivityandunemploymentanabmapproach
AT fuentesmatiasnicolas productivityandunemploymentanabmapproach
AT martinezjuanjose productivityandunemploymentanabmapproach
AT vazquezhernandezfranciscojose productivityandunemploymentanabmapproach
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