haku: @author Collard, F. / yhteensä: 4
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| Tekijä: | Collard, F. Dellas, H. |
| Otsikko: | Technology shocks and employment |
| Lehti: | Economic Journal
2007 : OCT, VOL. 117:523, p. 1436-1459 |
| Asiasana: | business cycles technology employment models |
| Kieli: | eng |
| Tiivistelmä: | This study shows that the standard, open economy, flexible price model can generate a negative response of employment (here as: empl.) to a positive technology shock (as: t-sh./t-shs.) and can also match the negative conditional correlation btw. productivity and empl. etc. While the model has good overall properties, it fails to generate sufficient procyclicality in empl. This finding indicates that the RBC model faces a tension btw. accounting for the negative response of empl. to t-shs. and simultaneously maintaining that t-shs. are the major source of business cycle fluctuations. |
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