A particular challenge for the macroeconomic models is their inability to match the joint dynamics of employment, wage … which ampli.es the responses of employment and output to exogenous shocks. Our model, consistent with the implications of …: First, we get considerable improvements for the employment, wage and output volatilities in response to technology and …

This report assesses the relationship between defense spending in Hawaii and the levels of output, employment, and … expenditures and the levels of output, employment, and earnings in Hawaii's economy. The analysis uses an input-output model for …