Productivity and unemployment : an ABM approach

Autores
Fernández-Márquez, Carlos Manuel.; Fuentes, Matías Nicolás.; Martínez, Juan José; Vázquez Hernández, Francisco Jose.
Año de publicación
2020
Idioma
inglés
Tipo de recurso
artículo
Estado
versión aceptada
Descripción
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.
Fuente
https://doi.org/10.1007/s11403-020-00287-1
Materia
PRODUCTIVITY
UNEMPLOYMENT
ECONOMUIC POLICY
LABOUR MARKET
INFLATION
Nivel de accesibilidad
acceso abierto
Condiciones de uso
http://creativecommons.org/licenses/by-nc-sa/2.5/ar/
Repositorio
Repositorio Institucional (UNSAM)
Institución
Universidad Nacional de General San Martín
OAI Identificador
oai:ri.unsam.edu.ar:123456789/2756
Acceder
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oai_identifier_str oai:ri.unsam.edu.ar:123456789/2756
network_acronym_str RIUNSAM
repository_id_str s
network_name_str Repositorio Institucional (UNSAM)
spelling Productivity and unemployment : an ABM approachFernández-Márquez, Carlos Manuel.Fuentes, Matías Nicolás.Martínez, Juan JoséVázquez Hernández, Francisco Jose.PRODUCTIVITYUNEMPLOYMENTECONOMUIC POLICYLABOUR MARKETINFLATIONWe 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.Springer-Verlag GmbH Germany, part of Springer Nature2020-04-06info:eu-repo/semantics/acceptedVersioninfo:eu-repo/semantics/articlehttp://purl.org/coar/resource_type/c_6501info:ar-repo/semantics/articuloapplication/pdf30 p.application/pdfFernández-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/s11403-020-00287-1EEYN_CIETYMA_2020_1860-711X_16_133–151http://ri.unsam.edu.ar/handle/123456789/2756https://doi.org/10.1007/s11403-020-00287-1reponame:Repositorio Institucional (UNSAM)instname:Universidad Nacional de General San Martínenginfo:eu-repo/semantics/openAccesshttp://creativecommons.org/licenses/by-nc-sa/2.5/ar/Creative Commons Atribución-NoComercial-CompartirIgual 2.5 Argentina (CC BY-NC-SA 2.5)2025-09-29T14:31:21Zoai:ri.unsam.edu.ar:123456789/2756instacron:UNSAMInstitucionalhttp://ri.unsam.edu.arUniversidad públicaNo correspondehttp://ri.unsam.edu.ar/oai/lpastran@unsam.edu.arArgentinaNo correspondeNo correspondeNo correspondeopendoar:s2025-09-29 14:31:22.981Repositorio Institucional (UNSAM) - Universidad Nacional de General San Martínfalse
dc.title.none.fl_str_mv Productivity and unemployment : an ABM approach
title Productivity and unemployment : an ABM approach
spellingShingle Productivity and unemployment : an ABM approach
Fernández-Márquez, Carlos Manuel.
PRODUCTIVITY
UNEMPLOYMENT
ECONOMUIC POLICY
LABOUR MARKET
INFLATION
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
dc.creator.none.fl_str_mv Fernández-Márquez, Carlos Manuel.
Fuentes, Matías Nicolás.
Martínez, Juan José
Vázquez Hernández, Francisco Jose.
author Fernández-Márquez, Carlos Manuel.
author_facet Fernández-Márquez, Carlos Manuel.
Fuentes, Matías Nicolás.
Martínez, Juan José
Vázquez Hernández, Francisco Jose.
author_role author
author2 Fuentes, Matías Nicolás.
Martínez, Juan José
Vázquez Hernández, Francisco Jose.
author2_role author
author
author
dc.subject.none.fl_str_mv PRODUCTIVITY
UNEMPLOYMENT
ECONOMUIC POLICY
LABOUR MARKET
INFLATION
topic PRODUCTIVITY
UNEMPLOYMENT
ECONOMUIC POLICY
LABOUR MARKET
INFLATION
dc.description.none.fl_txt_mv 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.
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.
publishDate 2020
dc.date.none.fl_str_mv 2020-04-06
dc.type.none.fl_str_mv info:eu-repo/semantics/acceptedVersion
info:eu-repo/semantics/article
http://purl.org/coar/resource_type/c_6501
info:ar-repo/semantics/articulo
status_str acceptedVersion
format article
dc.identifier.none.fl_str_mv 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
identifier_str_mv 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
url http://ri.unsam.edu.ar/handle/123456789/2756
dc.language.none.fl_str_mv eng
language eng
dc.rights.none.fl_str_mv 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)
eu_rights_str_mv openAccess
rights_invalid_str_mv http://creativecommons.org/licenses/by-nc-sa/2.5/ar/
Creative Commons Atribución-NoComercial-CompartirIgual 2.5 Argentina (CC BY-NC-SA 2.5)
dc.format.none.fl_str_mv application/pdf
30 p.
application/pdf
dc.publisher.none.fl_str_mv Springer-Verlag GmbH Germany, part of Springer Nature
publisher.none.fl_str_mv Springer-Verlag GmbH Germany, part of Springer Nature
dc.source.none.fl_str_mv https://doi.org/10.1007/s11403-020-00287-1
reponame:Repositorio Institucional (UNSAM)
instname:Universidad Nacional de General San Martín
reponame_str Repositorio Institucional (UNSAM)
collection Repositorio Institucional (UNSAM)
instname_str Universidad Nacional de General San Martín
repository.name.fl_str_mv Repositorio Institucional (UNSAM) - Universidad Nacional de General San Martín
repository.mail.fl_str_mv lpastran@unsam.edu.ar
_version_ 1844621920600850432
score 12.559606

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