| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29479 |
| 来源ID | Working Paper 29479 |
| Labor Market Dynamics When Ideas are Harder to Find | |
| Adrien Bilal; Niklas Engbom; Simon Mongey; Giovanni L. Violante | |
| 发表日期 | 2021-11-15 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | This paper evaluates the impact of slowing economic growth on labor market dynamism and misallocation. It provides a model of endogenous growth via imitation in a frictional labor market. The framework accounts for rich data on worker job-to-job transitions as well as stochastic and lifecycle properties of firm growth and job reallocation. High productivity entrants gradually replace obsolescing incumbents by poaching their workers, a process that is intermediated via a frictional labor market. When the likelihood of entrants imitating technologies in the tail of the distribution falls (ideas are harder to find), so does growth. Consistent with US data over the past 30 years, firm entry, incumbents’ employment response to productivity shocks, and job-to-job transitions decline, while the share of old firms increases. With lower imitation, however, there is less misallocation, because the slower aggregate rate of obsolescence induces productive firms to invest more in costly hiring and grow faster to their optimal size. |
| 主题 | Macroeconomics ; Consumption and Investment ; Development and Growth ; Growth and Productivity |
| URL | https://www.nber.org/papers/w29479 |
| 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/587153 |
| 推荐引用方式 GB/T 7714 | Adrien Bilal,Niklas Engbom,Simon Mongey,et al. Labor Market Dynamics When Ideas are Harder to Find. 2021. |
| 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 | ||
| w29479.pdf（1041KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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