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needed to reap the benefits of an investment-specific technology shock and gradual labor-market matching, generates hump …This paper studies the implications of technical progress through investment-specific technical change in a business … persistent endogenous fluctuations in total factor productivity. Simulations suggest a limited role for investment …
Persistent link: https://www.econbiz.de/10013137439
Persistent link: https://www.econbiz.de/10003412522
needed to reap the benefits of an investment-specific technology shock and gradual labor-market matching, generates hump …This paper studies the implications of technical progress through investment-specific technical change in a business … persistent endogenous fluctuations in total factor productivity. Simulations suggest a limited role for investment …
Persistent link: https://www.econbiz.de/10011618226
technology shock. Technology shocks are identified as disturbances that increase relative state productivity in the long run for … heterogeneous responses of both employment and net labour flows across states, conditional on a positive technology shock. We build … net labour flows across states following a technology shock. …
Persistent link: https://www.econbiz.de/10010235884
This paper studies the role of investment-specific shocks as an amplification mechanism of labor market fluctuations …. We first show evidence suggesting that after a fall in the relative price of new equipment, not only do investment and … quantitative impact of investment-specific shocks on the labor market by incorporating them in a Real Business Cycle model with …
Persistent link: https://www.econbiz.de/10013109615
The Japanese business cycle from 1980-2007 portrays less contemporaneous correlation of labor with output than in the US and also tends to lead output by one quarter. A canonical real business cycle model cannot account for these facts. This paper uses the business cycle accounting method a la...
Persistent link: https://www.econbiz.de/10008990066
overoptimistic. We find that it is difficult to generate a boom-bust cycle (a period in which stock prices, consumption, investment … and employment all rise and then crash) in response to such a news shock, in a standard real business cycle model. However … a welfare-reducing boom-bust cycle in response to a news shock. We explore the possibility that integrating credit …
Persistent link: https://www.econbiz.de/10013316465
In this paper we investigate the quantitative importance of search and matching fric- tions in Bulgarian labor markets. This is done by augmenting an otherwise standard real business cycle model a la Long and Plosser (1983) with both a two-sided costly search and fiscal policy. This introduces a...
Persistent link: https://www.econbiz.de/10011498689
Can the standard search-and-matching labor market model replicate the business cycle fluctuations of the job finding rate and the unemployment rate? In the odel, these fluctuations are driven by movements in productivity. This paper inestigates the sources of productivity fluctuations that are...
Persistent link: https://www.econbiz.de/10011756844
response to an interest shock is found to be too large and no longer hump-shaped in this case. In addition we find that the … response of output to a technology shock can only be reconciled with empirical findings if either the adjustment of the …
Persistent link: https://www.econbiz.de/10013316997