investigate different identification schemes for bi-variate systems comprising U.S. stock prices and total factor productivity …. The former variable is viewed as reflecting expectations of economic agents about future productivity. It is found that … used for total factor productivity. …

rate and the unemployment rate? In the model, fluctuations are prominently driven by productivity shocks which are commonly …

inclusion of productivity shocks in standard New Keynesian Phillips Curve (NKPC). The question of interest is on the empirical … importance of and whether productivity shocks shift the Phillips curve using U.S. and Euro area data. Highlighting the inclusion … of productivity growth, we employ a hybrid model specification augmented with a productivity term. The model is estimated …

In our dynamic optimizing sticky price model, agents are heterogeneous with regard to their age and their productivity … dominates the substitution effect. This is in line with the adverse effect of productivity shocks on employment found in …

This paper focuses on tenure driven productivity dynamics of a firm-worker match as a potential explanation of … "unemployment volatility puzzle". We let new matches and continuing jobs differ by their productivity levels and by their … sensitivity to aggregate productivity shocks. As a result, new matches have a higher destruction rate and lower, but more volatile …

capacity of a structural job search model with i.i.d. productivity shocks to replicate salient properties of these dynamics … quantitatively plausible internal propagation mechanism of i.i.d. productivity shocks into persistent wage shocks. The model suggests … that wage dynamics should be thought of as the outcome of a specific acceptance/rejection scheme of i.i.d. productivity …