| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w19900 |
| 来源ID | Working Paper 19900 |
| Can Intangible Capital Explain Cyclical Movements in the Labor Wedge? | |
| Francois Gourio; Leena Rudanko | |
| 发表日期 | 2014-02-14 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | Intangible capital is an important factor of production in modern economies that is generally neglected in business cycle analyses. We demonstrate that intangible capital can have a substantial impact on business cycle dynamics, especially if the intangible is complementary with production capacity. We focus on customer capital: the capital embodied in the relationships a firm has with its customers. Introducing customer capital into a standard real business cycle model generates a volatile and countercyclical labor wedge, due to a mismeasured marginal product of labor. We also provide new evidence on cyclical variation in selling effort to discipline the exercise. |
| 主题 | Macroeconomics ; Macroeconomic Models ; Business Cycles |
| URL | https://www.nber.org/papers/w19900 |
| 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/577574 |
| 推荐引用方式 GB/T 7714 | Francois Gourio,Leena Rudanko. Can Intangible Capital Explain Cyclical Movements in the Labor Wedge?. 2014. |
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