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This paper examines the effects of expansionary technology shocks (shocks that increase labor productivity and factor inputs) as opposed to contractionary technology shocks (shocks that increase labor productivity, but decrease factor inputs). We estimate these two shocks jointly based on a...
Persistent link: https://www.econbiz.de/10010336790
-economy business cycles tend to be shallower in advanced economies than in EMDEs. Informal employment in both advanced economies and …
Persistent link: https://www.econbiz.de/10012625108
Theoretical models of downward real wage rigidity generate asymmetric wage cyclicality with real wages being rigid in "bad" times but upwardly flexible during "good". In this paper we use an administrative panel dataset from Germany to establish that such asymmetries are very salient in Germany....
Persistent link: https://www.econbiz.de/10010490623
fiscal shocks and non-fiscal shocks on the gender composition of employment. We show that contractionary non-fiscal shocks … lead to man-cessions, i.e. employment falls and more strongly so for men. By contrast, an expansionary fiscal shock … predominantly raises the employment of women. Taken together, these results imply a trade-off dilemma for policy that seeks to …
Persistent link: https://www.econbiz.de/10010502790
Recent dynamic contracting models of downward real wage rigidity with "equal treatment" - newly hired workers cannot price themselves into jobs by undercutting incumbents – imply that real wages are relatively rigid in "bad" times but upwardly flexible during "good" times. We use an...
Persistent link: https://www.econbiz.de/10011855567
not allow to analyse spatial interdependence. In our approach, instead, we make use of local employment patterns. In … particular, using sectoral employment of 8091 Italian municipalities across 18 economic activities, our approach allows to … identify spatial inter-linkages in terms of employment patterns. By comparing such local employment patterns, our methodology …
Persistent link: https://www.econbiz.de/10012111812
Conventional RBC models have been heavily criticized for their inability to generate the estimated negative correlations of hours and productivity in response to technology shocks ('productivity-hours puzzle'). In this paper we show that by just enhancing the standard frame- work with investment...
Persistent link: https://www.econbiz.de/10010343821
We develop a stochastic general equilibrium model in which maintenance endogenously affects the capital depreciation rate. The model performs well in generating maintenance series that match closely existing survey-based measures for Canada. Maintenance is procyclical and comoves almost always...
Persistent link: https://www.econbiz.de/10010343861
How do international labor markets respond to a technology shock and what is the main transmission channel across countries with different labor market institutions? To answer these questions, I identify technology shocks using the approach of Galí (1999) and decompose the responses of total...
Persistent link: https://www.econbiz.de/10011998955
Using a novel data set, we reassess the evidence for (or against) a key implication of the basic RBC model: that aggregate hours worked respond positively to a positive technology shock. Two novel aspects of the analysis are the scope (14 OECD countries) and the inclusion of data on both labor...
Persistent link: https://www.econbiz.de/10011961312