Ferraresi, Tommaso; Roventini, Andrea; Semmler, Willi - 2016
responses of GDP and hours as to TFP shocks. We find that positive productivity shocks, while spurring GDP growth, display a … effects of productivity shocks on employment are abundantly negative in downturns, but they are not significantly different …: after the mid eighties (1984-2011), productivity shocks increase hours during recessions. Finally, we express and test some …