NEUTRAL TECHNOLOGY SHOCKS AND THE DYNAMICS OF LABOR INPUT: RESULTS FROM AN AGNOSTIC IDENTIFICATION

被引：27

作者：

Mumtaz, Haroon ^{[1
]}

Zanetti, Francesco ^{[1
]}

机构：

[1] Bank England, London EC2R 8AH, England

来源：

INTERNATIONAL ECONOMIC REVIEW | 2012年 / 53卷 / 01期

关键词：

LONG-RUN RESTRICTIONS; MONETARY-POLICY; BUSINESS-CYCLE; VECTOR AUTOREGRESSIONS; UNEMPLOYMENT; EMPLOYMENT; MODELS; OUTPUT; FORM;

D O I：

10.1111/j.1468-2354.2011.00678.x

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This article studies the dynamic response of labor input to neutral technology shocks. It uses benchmark dynamic, stochastic, general equilibrium models enriched with labor market search and matching frictions and investment-specific technological progress that enables a new, agnostic, identification scheme based on sign restrictions on a structural vector autoregression (SVAR). The estimation supports an increase of labor input in response to neutral technology shocks. This finding is robust across different perturbations of the SVAR model.

引用

页码：235 / 254

页数：20

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