Using a difference-in-difference methodology, we find that the state-level banking deregulation of local U.S. credit markets leads to significant increases in the reallocation of labor within local industries towards firms with higher marginal products of labor. Using firm production functions estimated with plant-level data, we propose and examine an approach that quantifies the industry produ...

Total factor productivity—a measure of the efficiency with which labor and capital are used—has fallen during the current recession. But, after adjustment for lower utilization of labor and capital, such productivity has risen strongly over the past two years. These growth-accounting measures suggest that efficiency gains have continued during the recession, boding well for long-term economic g...

This paper studies optimal income taxes and retirement benefits in a life-cycle model with an intensive margin of labor supply and an endogenous retirement age. The government insures and redistributes resources across individuals who privately observe persistent shocks to their productivity. In this environment, the optimal labor tax is hump-shaped in age, unlike in existing models with no end...

Shimer (2005) argues that a search and matching model of the labor market in which wage is determined by Nash bargaining cannot generate the observed volatility in unemployment and vacancy in response to reasonable labor productivity shocks. This paper examines how incorporating monopolistically competitive firms with a working capital requirement (in which firms borrow funds to pay their wage ...

We study the Danish unemployment experience 1905-92 using a common trends model with cointegration constraints. To justify the identifying assumptions about the cointegration vectors and the common trends we present a simple macroeconomic model of the labor market. The model determines the long run behavior of labor productivity, employment, unemployment, real product and real consumer wages. T...

In this paper, I develop a regression-based system of labor productivity equations which account for capital-embodied technological change and I incorporate this system into IDLIFT, a structural, macroeconomic input-output model of the U.S. economy. Builders of regressionbased forecasting models have long had difficulty finding labor productivity equations that exhibit the “Solowian” property t...

Identification and analysis of the components of labor productivity based on ACHIEVE model was performed among employees in different parts of Kermanshah University of Medical Sciences in 2014. This was a descriptive correlational study in which the population consisted of 270 working personnel in different administrative groups (contractual, fixed- term and regular) at Kermanshah University of...