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We study the effect of a declining labor force on the incentives to engage in labor-saving technical change and ask how this effect is influenced by institutional characteristics of the pension scheme. When labor is scarcer it becomes more expensive and innovation investments that increase labor...
Persistent link: https://www.econbiz.de/10003779148
We study the effect of a declining labor force on the incentives to engage in labor-saving technical change and ask how this effect is influenced by institutional characteristics of the pension scheme. When labor is scarcer it becomes more expensive and innovation investments that increase labor...
Persistent link: https://www.econbiz.de/10003791799
Persistent link: https://www.econbiz.de/10003813579
Persistent link: https://www.econbiz.de/10010474407
Persistent link: https://www.econbiz.de/10011373657
-level investment is procyclical. We show that a heterogeneous-firm RBC model with quantitatively realistic countercyclically disperse … state investment rate distribution, produces investment dispersion that positively comoves with the cycle, with a …-sectional firm dynamics ; lumpy investment ; countercyclical risk ; aggregate shocks ; idiosyncratic shocks ; heterogeneous firms …
Persistent link: https://www.econbiz.de/10003888063
-varying uncertainty, highlighted in the literature. -- Ss model ; RBC model ; lumpy investment ; countercyclical risk ; aggregate shocks …
Persistent link: https://www.econbiz.de/10003898815
effect of time-varying uncertainty, highlighted in the literature. -- Ss model ; RBC model ; lumpy investment …
Persistent link: https://www.econbiz.de/10003857672
of firm-level investment is procyclical. We show that a heterogeneousfirm RBC model with quantitatively realistic … of the steady state investment rate distribution, produces investment dispersion that positively comoves with the cycle … ; cross-sectional firm dynamics ; lumpy investment ; countercyclical risk ; aggregate shocks ; idiosyncratic shocks …
Persistent link: https://www.econbiz.de/10003857682
Persistent link: https://www.econbiz.de/10010532729