| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP1563
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| DP1563 Centralized Bargaining, Multi-Tasking, and Work Incentives |
| Dennis Snower; Assar Lindbeck
|
| 发表日期 | 1997-01-31
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| 出版年 | 1997
|
| 语种 | 英语
|
| 摘要 | Using data for the G7 countries, conditional correlations of employment and productivity are estimated, based on a decomposition of the two series into technology and non-technology components. The picture that emerges is hard to reconcile with the predictions of the standard real business cycle model. For a majority of countries the following results stand out: (a) technology shocks appear to induce a negative comovement between productivity and employment, counterbalanced by a positive comovement generated by demand shocks; (b) the impulse responses show a persistent decline in employment in response to a positive technology shock; and (c) measured productivity increases temporarily in response to a positive demand shock. More generally, the pattern of economic fluctuations attributed to technology shocks seems to be largely unrelated to major post-war cyclical episodes. A simple model with monopolistic competition, sticky prices and variable effort is shown to be able to account for the empirical findings. |
| 主题 | International Macroeconomics
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| 关键词 | Business cycles
New keynesian models
Real business cycle models
Sticky prices
Structural var
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| URL | https://cepr.org/publications/dp1563
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530705
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推荐引用方式
GB/T 7714 |
Dennis Snower,Assar Lindbeck. DP1563 Centralized Bargaining, Multi-Tasking, and Work Incentives. 1997.
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