| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5680 |
| DP5680 Can Post-Grant Reviews Improve Patent System Design? A Twin Study of US and European Patents | |
| Dietmar Harhoff; Stuart J.H. Graham | |
| 发表日期 | 2006-05-12 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | This paper introduces a labour force participation choice into a standard labour market matching model embedded in a dynamic stochastic general equilibrium set-up. The participation choice is modelled as a trade-off between forgoing the expected benefits of being search active and engaging in costly labour market search. In contrast to models with constant labour force participation, the model that we analyse induces a symmetry in firms' and workers' search decision since both sides of the labour market vary search effort at the extensive margins. We show that this set-up is (a) of considerable analytical convenience, and (b) that the introduction of a participation choice leads to a strong tendency for procyclical unemployment, very low volatility of labour market tightness, and for a positively sloped Beveridge curve. These implications are summarized by a linear relationship between the vu-ratio and the marginal utility of consumption that we refer to as the consumption-tightness puzzle given its counterfacutal implications. Moreover, we show that this relationship survives a number of extentions of the standard model and that it derives from the allowance for an endogeneous labour market participation choice. |
| 主题 | International Macroeconomics |
| 关键词 | Labour market participation Matching models Intensive search margin Labour market tightness Unemployment Homework |
| URL | https://cepr.org/publications/dp5680 |
| 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/534520 |
| 推荐引用方式 GB/T 7714 | Dietmar Harhoff,Stuart J.H. Graham. DP5680 Can Post-Grant Reviews Improve Patent System Design? A Twin Study of US and European Patents. 2006. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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