INNOVATION, TECHNOLOGICAL CHANGE AND LABOUR SAVING IN THE AFTERMATH OF THE GLOBAL CRISIS

The correlation between the technological progress and the scarcity of labor (Habakkuk, 1962, Beaundry, 2002, Acemoglu, 2002, Alesina, Zeira, 2006) suggested a faster adoption of new technologies. The aim is to analyze the links between innovation, technological change and labor saving in a DTC (directed technological change) framework. We use a version of Acemoglu' s model (2007) to analyze the effects of supplies of factors on the changing of bias of technology with focus on the implications of labor scarcity on innovational cycle. Based on these results, we find new mechanisms capable to encourage the technological change based on innovation and new strategies for a robust recovery of the high-tech industry after the global crisis.