| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17779 |
| 来源ID | Working Paper 17779 |
| Is Labor Supply Important for Business Cycles? | |
| Per Krusell; Toshihiko Mukoyama; Richard Rogerson; Ayşegül Şahin | |
| 发表日期 | 2012-01-26 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | We build a general equilibrium model that features uninsurable idiosyncratic shocks, search frictions and an operative labor supply choice along the extensive margin. The model is calibrated to match the average levels of gross flows across the three labor market states: employment, unemployment, and non-participation. We use it to study the implications of two kinds of aggregate shocks for the cyclical behavior of labor market aggregates and flows: shocks to search frictions (the rates of job finding and job loss) and shocks to the return on the market activity (any factors affecting aggregate productivity). We find that both kinds of shocks are needed to explain the labor market data, and that an active labor supply channel is key. A model with friction shocks only, calibrated to match unemployment fluctuations, accounts for only a small fraction of employment fluctuations and has counterfactual cyclical predictions for participation. |
| 主题 | Macroeconomics ; Consumption and Investment ; Labor Economics ; Labor Supply and Demand ; Unemployment and Immigration |
| URL | https://www.nber.org/papers/w17779 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575454 |
| 推荐引用方式 GB/T 7714 | Per Krusell,Toshihiko Mukoyama,Richard Rogerson,et al. Is Labor Supply Important for Business Cycles?. 2012. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w17779.pdf（349KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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