| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6376 |
| DP6376 Hobbies, Skills and Incentives to Work: The Happy Gardener and the Wealthy Golfer | |
| Susanna Sällström | |
| 发表日期 | 2007-07-06 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | We analyze the effects of neutral and investment-specific technology shocks on hours worked and unemployment. We characterize the response of unemployment in terms of job separation and job finding rates. We find that job separation rates mainly account for the impact response of unemployment while job finding rates for movements along its adjustment path. Neutral shocks increase unemployment and explain a substantial portion of unemployment and output volatility; investment-specific shocks expand employment and hours worked and mostly contribute to hours worked volatility. We show that this evidence is consistent with the view that neutral technological progress prompts Schumpeterian creative destruction, while investment specific technological progress has standard neoclassical features. |
| 主题 | International Macroeconomics ; Labour Economics |
| 关键词 | Creative destruction Search frictions Technological progress |
| URL | https://cepr.org/publications/dp6376 |
| 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/535215 |
| 推荐引用方式 GB/T 7714 | Susanna Sällström. DP6376 Hobbies, Skills and Incentives to Work: The Happy Gardener and the Wealthy Golfer. 2007. |
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