Labor productivity is more procyclical in OECD countries with lower employment volatility. To capture this new stylized … our model with variable effort, greater labor market frictions are associated with procyclical labor productivity as well … data. By implication, labor market deregulation has a greater effect on the cyclicality of labor productivity and on the …

Labor productivity is more procyclical in OECD countries with lower employment volatility. To capture this new stylized … our model with variable effort, greater labor market frictions are associated with procyclical labor productivity as well … data. By implication, labor market deregulation has a greater effect on the cyclicality of labor productivity and on the …

Labor productivity is more procyclical in OECD countries with lower employment volatility. To capture this new stylized … our model with variable effort, greater labor market frictions are associated with procyclical labor productivity as well … data. By implication, labor market deregulation has a greater effect on the cyclicality of labor productivity and on the …

The Euro Area is characterized by little variation in unemployment and strongly procyclical labor productivity. We … significant use of the effort margin in generating procyclical productivity. We show that a model with labor effort is more …

The Euro Area is characterized by little variation in unemployment and strongly procyclical labor productivity. We … use of the effort margin in generating procyclical productivity. We show that a model with labor effort is more successful …

on the working week, employment and productivity. A baseline model economy is calibrated to reproduce the cross … in productivity. In the work-sharing scenario, the increase in employment (1.86%) comes at the expense of a lower … increase in productivity (1.31%). Finally, the full flexibility scenario preserves employment and generates a substantial …