Showing 1 - 9 of 9
Difficulties in sorting out the empirical relationship between technical change and employment is attributable, at least in part, to the shortcomings associated with traditional measures of the former. In this paper, we use new indicators of technical change that we believe resolve many issues...
Persistent link: https://www.econbiz.de/10005704778
Differences in employment volatility and the correlation of employment with output across countries are often cited as examples of the limitation of standard real business cycle (RBC) theory to reproduce the observed labor market facts. These observations have lead researchers to argue for the...
Persistent link: https://www.econbiz.de/10005704823
The agricultural sector has certain distinctive features over the business cycle: it is more volatile than and not positively correlated with the rest of the economy and its employment is counter-cyclical. Because of these features and even though the agricultural sector represents less than 2%...
Persistent link: https://www.econbiz.de/10005827222
We build a directed search model of the labor market in which workers' transitions between unemployment, employment, and across employers are endogenous. We prove the existence, uniqueness and efficiency of a recursive equilibrium with the property that the distribution of workers across...
Persistent link: https://www.econbiz.de/10005771699
Although technical change is central in much of modern economics, traditional measures of it are, for a number of reasons, flawed. We discuss in this paper new indicators based on data drawn from the MARC records of the Library of Congress on the number of new technology titles in various fields...
Persistent link: https://www.econbiz.de/10008545925
New indications of managerial innovations are created and then used to show that changes in organizational technologies are an important source of economic growth. Specifically, the analysis demonstrates that, first, in response to a positive managerial technology shock, output, productivity and...
Persistent link: https://www.econbiz.de/10008553220
If entitlement to Unemployment Insurance (UI) benefits must be earned with employment, generous UI is an additional benefit to an employment relationship, so it promotes job creation. If individuals are risk neutral, UI is fairly priced, and the UI system prevents moral-hazard, the generosity of...
Persistent link: https://www.econbiz.de/10008494159
The paper develops a model of directed search on the job where transitions of workers between unemployment, employment and across employers are driven by heterogeneity in the quality of firm-worker matches. The equilibrium is such that the agents' value and policy functions are independent of...
Persistent link: https://www.econbiz.de/10009144872
Although technical change is central in much of modern economics, traditional measures of it are, for a number of reasons, flawed. We discuss in this paper new indicators based on data drawn from the MARC records of the Library of Congress on the number of new technology titles in various fields...
Persistent link: https://www.econbiz.de/10005572559