We analyze the effects of neutral and investment-specific technology shocks on hours worked and output. Low frequency movements in hours are captured in a variety of ways. Hours robustly fall in response to neutral shocks and robustly increase in response to investment specific shocks. The...

We analyze the effects of neutral and investment-specific technology shocks on hours worked and unemployment. We characterize the response of unemployment in terms of job separation and job finding rates. We find that job separation rates mainly account for the impact response of unemployment...

Job security provisions are frequently cited as inhibiting the functioning of labour markets in Europe. However, as with many forms of non-price regulation, it is difficult to assess how tightly these regulations bind and influence labour market outcomes. We use an industry-country panel of OECD...