| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP965 |
| DP965 The Great Wars, the Great Crash, and the Unit Root Hypothesis: Some New Evidence About An Old Stylized Fact | |
| Dan Ben-David; David Papell | |
| 发表日期 | 1994-06-30 |
| 出版年 | 1994 |
| 语种 | 英语 |
| 摘要 | We develop a two-sector model in which technological progress alternatively raises the productivity of one sector after another. We assume that goods are complements for the final consumers. The sector which benefits from technical progress will see a resulting fall in its price. In this model, any uneven technical progress leads to job destruction in the sector which benefits from it, and job creation in the least productive sector. We examine the pattern of wages and unemployment that follow shocks (symmetric or asymmetric) which can occur in the economy. We show that wages will immediately rise and overshoot their long-run target: as time passes they must fall, as will the degree of tightness in the labour market (and sometimes unemployment). An `age of diminished expectations' following any productivity shock is then likely to occur sooner or later. |
| 主题 | International Macroeconomics |
| 关键词 | Diminished expectations Technical progress Unemployment |
| URL | https://cepr.org/publications/dp965 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530106 |
| 推荐引用方式 GB/T 7714 | Dan Ben-David,David Papell. DP965 The Great Wars, the Great Crash, and the Unit Root Hypothesis: Some New Evidence About An Old Stylized Fact. 1994. |
| 条目包含的文件 | 条目无相关文件。 | |||||
| 个性服务 |
| 推荐该条目 |
| 保存到收藏夹 |
| 导出为Endnote文件 |
| 谷歌学术 |
| 谷歌学术中相似的文章 |
| [Dan Ben-David]的文章 |
| [David Papell]的文章 |
| 百度学术 |
| 百度学术中相似的文章 |
| [Dan Ben-David]的文章 |
| [David Papell]的文章 |
| 必应学术 |
| 必应学术中相似的文章 |
| [Dan Ben-David]的文章 |
| [David Papell]的文章 |
| 相关权益政策 |
| 暂无数据 |
| 收藏/分享 |
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
