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This paper compares the aggregate effects of sectoral reallocation in the United States and Western Germany using a stochastic volatility model of sectoral employment growth. Reallocative shocks have no effect on the natural rate of unemployment in either country, and there is mild evidence that...
Persistent link: https://www.econbiz.de/10009216276
In this paper, I estimate a series of long run reallocative shocks to sectoral employment using a stochastic volatility model of sectoral employment growth for the United States from 1960 through 2011. Reallocative shocks (which primarily measure construction and technology busts) have little...
Persistent link: https://www.econbiz.de/10009216281
Using information on a panel of multinational firms operating in the United Kingdom from 1996 to 2005, we find that labour demand in domestic multinationals is less sensitive to own labour costs changes than in foreign multinationals. This difference in wage elasticity of labour demand persists...
Persistent link: https://www.econbiz.de/10008458436
It is widely accepted that China has been experiencing an export-led growth approach. However, the question whether …
Persistent link: https://www.econbiz.de/10005700627
This paper investigates the link between inward FDI and innovation activity in China, using a very comprehensive and …
Persistent link: https://www.econbiz.de/10005818806