| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3651 |
| DP3651 The Role of Transaction Costs for Financial Volatility: Evidence from the Paris Bourse | |
| Harald Hau | |
| 发表日期 | 2002-11-20 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | This Paper suggests that skill accumulation through past work experience, or ?learning-by-doing? (LBD), can provide an important propagation mechanism in a dynamic stochastic general equilibrium model, as the current labour supply affects future productivity. Our econometric analysis uses a Bayesian approach to combine micro-level panel data with aggregate time series. Formal model evaluation shows that the introduction of the LBD mechanism improves the model's ability to fit the dynamics of aggregate output and hours. |
| 主题 | International Macroeconomics ; Labour Economics |
| 关键词 | Learning by doing Business cycles Propagation Labour supply |
| URL | https://cepr.org/publications/dp3651 |
| 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/532659 |
| 推荐引用方式 GB/T 7714 | Harald Hau. DP3651 The Role of Transaction Costs for Financial Volatility: Evidence from the Paris Bourse. 2002. |
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