industries is highly correlated, identifiable shocks, like shocks to productivity, are far less correlated. While previous work … complementarities in information acquisition. Because information about driving forces has a high fixed cost of production and a low … in uncovering detailed sectoral information. Firms basing their decisions on this common information make highly …

rapidly raising productivity while making workers redundant. This paper explores the evidence for this view among the IT …-using U.S. manufacturing industries. There is some limited support for more rapid productivity growth in IT … expectations, is that output contracts in IT-intensive industries relative to the rest of manufacturing. Productivity increases …

We document three changes in postwar US macroeconomic dynamics: (i) the procyclicality of labor productivity has … vanished, (ii) the relative volatility of employment has risen, and (iii) the relative (and absolute) volatility of the real … observed decline in output volatility. -- labor hoarding ; labor market frictions ; wage rigidities ; effort choice …

business cycle volatility, hinting at a stabilizing effect of public employment, while public wages correlate weakly and … positively with business cycle volatility, hinting at a destabilizing effect of public wages. To explain these relationships, we …

then provide 22 different forms of information regarding past, current and/or future inflation and interest rates …. Information treatments about current and next year's interest rates have a strong effect on household expectations but treatments … constrained capacity to collect and process information. …

We study a search model where workers can send multiple applications to high and low productivity firms. Firms that … equilibrium where workers mix between sending both applications to the high and both to the low productivity sector. Efficiency …

' intensive margins. Short-run changes in work intensity and the longer-term goal of restoring full potential productivity …

paper offers a solution to this disagreement, suggesting that volatility carries a positive direct effect, but also a … volatility is then ambiguous. The paper reveals the underlying endogeneity of government size in a balanced panel of 95 countries … increase of volatility lowers growth by up to 0.57 percentage points in a democracy, but raises growth by 1.74 percentage …