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 …

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 …

The remarkable decline in macroeconomic volatility experienced by the U.S. economy since the mid-80s (the so …

The remarkable decline in macroeconomic volatility experienced by the U.S. economy since the mid-80s (the so … to identified shocks. Among other changes, our findings point to (i) an increase in the volatility of hours relative to … output, (ii) a shrinking contribution of non-technology shocks to output volatility, and (iii) a change in the cyclical …

vanished, (ii) the relative volatility of employment has risen, and (iii) the relative (and absolute) volatility of the real … observed decline in output volatility. …