@article{oai:u-ryukyu.repo.nii.ac.jp:02010985,
 author = {Hori, Katsuhiko and 堀, 勝彦},
 issue = {101},
 journal = {琉球大学経済研究＝Ryukyu University Economic Review},
 month = {Sep},
 note = {This paper examines relationships among economic growth, business cycles, and unemployment in a general-equilibrium model. The model views creative destruction as a major source of business cycles, as well as of long-term growth. I show that the expected growth rate negatively relates to the amplitude of business cycles, but positively relates to the expected unemployment rate. I also present an alternative view to competitive-equilibrium business cycle models on the relationship between employment and productivity. Contrary to competitive-equilibrium business cycle models, this model shows that positive permanent shocks cause unemployment, but positive transitory shocks lead to full employment. These theoretical results are consistent with empirical evidence. Finally, I show that an increase in the expected growth rate has a negative connection with the frequency of recessions., 紀要論文},
 pages = {33--53},
 title = {Business Cycles and Unemployment with Growth Through Creative Destruction},
 year = {2021}
}