The impact of capital accumulation on job creation is an important and interesting issue in economic development. This model provides a general-equilibrium framework for studying technology choice with unemployment in a developing economy based on micro-foundations. Unemployment in the urban sector results from the existence of efficiency wages. Manufacturing firms engage in oligopolistic competition and choose technologies to maximise profits. A more advanced technology uses more capital and less labour. In the steady state, an increase in the amount of capital induces firms to choose more advanced technologies and the wage rate increases. While a higher capital stock always induces firms to choose more advanced technologies, urban unemployment rate may decrease and agricultural sector employment may increase.

中文翻译：

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经济发展中的技术选择

资本积累对就业创造的影响是经济发展中一个重要且有趣的问题。该模型提供了一个基于微观基础的一般均衡框架，用于研究发展中经济体中失业情况下的技术选择。城市部门的失业源于效率工资的存在。制造企业参与寡头垄断竞争并选择技术来实现利润最大化。更先进的技术使用更多的资本和更少的劳动力。在稳定状态下，资本数量的增加促使企业选择更先进的技术，工资率也随之提高。虽然较高的资本存量总是会促使企业选择更先进的技术，但城市失业率可能会下降，农业部门的就业可能会增加。