| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7490 |
| DP7490 Does the welfare state make older workers unemployable? | |
| Gilles Saint-Paul | |
| 发表日期 | 2009-10-11 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | In this paper, we employ both calibration and modern (Bayesian) estimation methods to assess the role of neutral and investment-specific technology shocks in generating fluctuations in hours. Using a neoclassical stochastic growth model, we show how answers are shaped by the identification strategies and not by the statistical approaches. The crucial parameter is the labor supply elasticity. Both a calibration procedure that uses modern assessments of the Frisch elasticity and the estimation procedures result in technology shocks accounting for 2% to 9% of the variation in hours worked in the data. We infer that we should be talking more about identification and less about the choice of particular quantitative approaches. |
| 主题 | International Macroeconomics |
| 关键词 | Business cycle fluctuations Calibration Dsge model estimation Technology shocks |
| URL | https://cepr.org/publications/dp7490 |
| 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/536327 |
| 推荐引用方式 GB/T 7714 | Gilles Saint-Paul. DP7490 Does the welfare state make older workers unemployable?. 2009. |
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