Learning, capital-embodied technology and aggregate fluctuations
نویسندگان
چکیده
منابع مشابه
Technology shocks, labor mobility and aggregate fluctuations
We provide evidence on the dynamic behavior of net labor flows across US states in response to a positive technology shock. Technology shocks are identified as disturbances that increase relative state productivity in the long run for 226 state-pairs encompassing 80 percent of labor flows across US states in the period 1976 2008. The data suggest heterogeneous responses of both employment and n...
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A major unresolved issue in business cycle theory is the construction of an endogenous propagation mechanism capable of capturing the persistence displayed in the data. In this paper we explore the quantitative implications of one propagation mechanism: learning by doing. Estimation of the parameters characterizing learning by doing is based on aggregate, 2-digit and plant level observations in...
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This paper models uctuations in regional disaggregates as a nonstationary, dynamically evolving distribution. Doing so enables study of the dynamics of aggregate uctuations jointly with those of the rich cross-section of regional disaggregates. For the US, the leading state| regardless of which it happens to be|contains strong predictive power for aggregate uctuations. This e ect is di cult to ...
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The neoclassical e®ects of permanent technology shocks on employment is re-investigated. Contrary to Jordi Gali's (1999) assertion published in this Review, I show that standard neoclassical theory is fully capable of explaining the stylized fact that positive permanent technology shocks reduce employment and that positive transitory nontechnology shocks increase labor productivity.
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ژورنال
عنوان ژورنال: Review of Economic Dynamics
سال: 2013
ISSN: 1094-2025
DOI: 10.1016/j.red.2012.04.003