Total Factor Productivity Growth and Employment: A Simultaneous Equations Model Estimate
This paper provides a structural estimation of the recent model proposed by Pissarides and Vallanti, a simplified equilibrium model which draws heavily on models with frictions and quasi-rents. The structural model is a system of three equations. The estimation method is a three-stage least squares. My empirical results find that although faster TFP growth temporarily decreases employment, most likely be- cause job destruction reacts faster to schocks than job creation does, after the first year I do not find any statistically significant effect of growth on employment.
Year of publication: |
2005
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Authors: | Ladu, MG. |
Institutions: | Centro Ricerche Nord Sud (CRENoS) |
Subject: | total factor productivity | job creation | job de-struction | employment |
Saved in:
freely available
Extent: | application/pdf |
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Series: | |
Type of publication: | Book / Working Paper |
Classification: | E24 - Employment; Unemployment; Wages ; J64 - Unemployment: Models, Duration, Incidence, and Job Search ; O40 - Economic Growth and Aggregate Productivity. General ; O52 - Europe |
Source: |
Persistent link: https://www.econbiz.de/10005049467
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