This paper takes an AK model to the PWT data. In the model, intratemporal and intertemporal shocks are reduced forms for different technologies, and determine the variation of the growth rate. Using the policy functions of the model we recover time series for the unobserved technology shock for...

Partial equilibrium models suggest that when uncertainty increases, agents increase savings and at the same time reduce investment in irreversible goods. This paper characterizes this problem in general equilibrium with technology shocks, additive output shocks and shocks to the marginal...

We take an AK model to the PWT data. In the model both technology (intratemporal) and investment (intertemporal) shocks determine the variation of the growth rate. In earlier work we looked at singular models where we extracted only the technology shock using the policy functions from dynamic...

This paper estimates a structural model of the employment decision of the firm. Our establishment level data displays an extreme degree of rigidity in that employment levels are largely constant throughout our sample. This can be due to the fact that establishments face large shocks but also...

A relatively unexplored question in dynamic labour demand regards the source of adjustment costs, whether they depend on net or gross changes in employment. We estimate a structural model of dynamic labour demand where the firm faces adjustment costs related to gross and net changes in its...

This paper estimates a structural model of the employment decision of the firm. Ourestablishment level data displays an extreme degree of rigidity in that employment levels arelargely constant throughout our sample...

This paper adds a quasi-network to a search model of the labor market. Fitting the model to an average unemployment rate and to other moments in the data implies the presence of the network is not noticeable in the basic properties of the unemployment and job finding rates. However, the network...

Using Danish register data we observe that, for households living in rental housing, the housing expenditure share is negatively correlated with income, positively correlated with rent per squared meter, and displays significant cross sectional dispersion. We find that the life cycle model...

This paper uses a structural model of housing demand to evaluate the welfare impact of rent control policy in Danmark. We nd that a complete liberalization of the market achieves a very large welfare gain of around 50%

What was the role of uncertainty in the Great Depression? This paper uses a calibrated general equilibrium model to show that, in response to an increase in uncertainty, agents "increase" expenditure on irreversible durable goods and reduce investment in irreversible physical capital. These...