G2TT
来源类型Discussion paper
规范类型论文
来源IDDP16202
DP16202 Labor adjustment and productivity in the OECD
Maarten Dossche; Andrea Giovanni Gazzani; Vivien Lewis
发表日期2021-05-28
出版年2021
语种英语
摘要Labor productivity is more procyclical in OECD countries with lower employment volatility. To capture this new stylized fact, we propose a business cycle model with employment adjustment costs, variable hours and labor effort. We show that, in our model with variable effort, greater labor market frictions are associated with procyclical labor productivity as well as stable employment. In contrast, the constant-effort model fails to replicate the observed cross-country pattern in the data. By implication, labor market deregulation has a greater effect on the cyclicality of labor productivity and on the relative volatility of employment when effort can vary.
主题Monetary Economics and Fluctuations
关键词Effort Hours Labor adjustment Labor market deregulation Labor productivity
URLhttps://cepr.org/publications/dp16202
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/545173
推荐引用方式
GB/T 7714
Maarten Dossche,Andrea Giovanni Gazzani,Vivien Lewis. DP16202 Labor adjustment and productivity in the OECD. 2021.
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