An Optimal Unemployment Rate

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dc.contributor.author Dobell, Rod
dc.contributor.author Ho, Y. C.
dc.date.accessioned 2010-12-01T00:02:59Z
dc.date.available 2010-12-01T00:02:59Z
dc.date.copyright 1967 en
dc.date.issued 1967-11
dc.identifier.citation Dobell, A. R., and Y. C. Ho. "An Optimal Unemployment Rate." The Quarterly Journal of Economics 81.4 (1967): pp. 675-683. en
dc.identifier.issn 0033-5533
dc.identifier.uri http://hdl.handle.net/1828/3146
dc.description (c) 1967 by M.I.T. Press: http://www.mitpressjournals.org/loi/qjec en
dc.description.abstract This article describes a model of capital cost of occupational training. Thus, in an extension of standard optimal accumulation models, we do find a criterion which tells us when increasing the employment rate would lead to lower consumption per capita and, in this model, a lower rate of growth. Qualifying people to enter employment costs resources and probably more resources the higher is the present employment rate. Since, however, the cost is in the nature of a capital cost, and the benefits more like flows, care has to be taken to ensure that the asset evaluations are correctly made. en
dc.language.iso en en
dc.publisher M.I.T. Press en
dc.subject optimal control theory en
dc.subject training costs en
dc.subject complex systems en
dc.subject optimization en
dc.subject asset pricing en
dc.subject dual stability en
dc.title An Optimal Unemployment Rate en
dc.type Article en

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