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Longevity Shocks with Age-Dependent Productivity Growth

Heijdra, Ben J. - 2015

The aim of this paper is to study the long-run effects of a longevity increase on individual decisions about education and retirement, taking macroeconomic repercussions through endogenous factor prices and the pension system into account. We build a model of a closed economy inhabited by...

Persistent link: https://www.econbiz.de/10013021702

Firm Response to Competitive Shocks : Evidence from China's Minimum Wage Policy

Hau, Harald - 2017

The large regional variation in minimum wage levels in the period 2002-08 in China implies that Chinese manufacturing firms experienced competitive shocks as a function of firm location and their low-wage employment share. We find that minimum wage hikes accelerate the input substitution from...

Persistent link: https://www.econbiz.de/10012947448

Does knowledge accumulation increase the returns to collaboration?

Agrawal, Ajay; Goldfarb, Avi; Teodoridis, Florenta - 2013

Persistent link: https://www.econbiz.de/10010225023

Price Rigidities and the Granular Origins of Aggregate Fluctuations

Pasten, Ernesto - 2017

We study the aggregate implications of sectoral shocks in a multi-sector New Keynesian model featuring sectoral heterogeneity in price stickiness, sector size, and input-output linkages. We calibrate a 341 sector version of the model to the United States. Both theoretically and empirically,...

Persistent link: https://www.econbiz.de/10012947907

International business cycle synchronization in historical perspective

Bordo, Michael D.; Helbling, Thomas F. - 2010

"In this paper, we review and attempt to explain the changes in business cycle synchronization among 16 industrial countries and the over the past century and a quarter, demarcated into four exchange rate regimes. We find that there is a secular trend towards increased synchronization for much...

Persistent link: https://www.econbiz.de/10003981973

Baby busts and baby booms : the fertility response to shocks in dynastic models

Jones, Larry E.; Schoonbroodt, Alice - 2010

"Economic demographers have long analyzed fertility cycles. This paper builds a foundation for these cycles in a model … of fertility choice with dynastic altruism and aggregate shocks. It is shown that under reasonable parameter values …, fertility is pro-cyclical and that, following a shock, fertility continues to cycle endogenously as subsequent cohorts enter …

Persistent link: https://www.econbiz.de/10008778283