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This paper connects two salient economic features: (i) Fiscal shocks have asymmetric effects across business cycle phases (Gechert et al., 2019); (ii) Okun's coefficient is time varying and may be unstable. The intertwined dynamic behavior of fiscal shocks and unemployment-output trade-offs are...
Persistent link: https://www.econbiz.de/10012864881
Over the past two decades, technological progress has been biased towards making skilled labor more productive. What does skill-biased technological change imply for business cycles? To answer this question, we construct a quarterly series for the skill premium from the CPS and use it to...
Persistent link: https://www.econbiz.de/10013158513
productivity varies across working environments. Using detailed Belgian linked employer-employee panel data for 1999-2010, they … find the existence of a significant, positive (negative) impact of over- (under-)education on firm productivity. Moreover …, their results show that the effect of over-education on productivity is stronger among firms: (i) with a higher share of …
Persistent link: https://www.econbiz.de/10013026437
In the neoclassical production functions model technical change (TC) is assumed to be exogenous and it is specified as a function of time. However, some exogenous external factors other than time can also affect the rate of TC. In this paper we model TC via a combination of time trend (purely...
Persistent link: https://www.econbiz.de/10013119734
values of the standard Solow productivity residual. The equivalence holds if the representative household maximizes utility …
Persistent link: https://www.econbiz.de/10013153299
This study measures productivity growth using the Metafrontier Malmquist-Luenberger productivity growth index (MML …-Luenberger (ML) productivity growth index. MML has two advantages compared with the ML index. The former is able to consider … separation and estimation of changes in the technological gap between regional and global frontier technologies. The proposed …
Persistent link: https://www.econbiz.de/10013085477
We estimate direct and indirect effects of total factor productivity growth in manufacturing on US workers' earnings … experiences productivity gains in manufacturing, there are substantial local increases in employment and average earnings. For …. Strikingly, local productivity growth in manufacturing reduces local inequality, as it raises earnings of local less …
Persistent link: https://www.econbiz.de/10012870205
This study proposes an alternative methodology for measuring environmentally sensitive productivity growth. The … combination, the conventional Malmquist-Luenberger productivity index is modified to give the alternative sequential … environmentally sensitive productivity index. This proposed index is employed in measuring productivity growth and its decomposed …
Persistent link: https://www.econbiz.de/10013159334
productivity. Further, when our model is subjected to skill-upgrading and changes in employee bargaining power, it is capable of … employeesメ relative productivity, i.e., skill-biased technological change, are unlikely to have caused the increase in income …
Persistent link: https://www.econbiz.de/10013147124
that a shock to the net flow from unemployment to employment drive the unemployment rate and the participation rate in … opposite directions while a shock to the net flow from not in the labour force to unemployment drives the rates in the same …
Persistent link: https://www.econbiz.de/10013052699