Title of article
Redistributiveshocksandproductivityshocks
Author/Authors
Jose´ -V?´ctor R?´os-Rull، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2010
Pages
18
From page
931
To page
948
Abstract
A productivityinnovationreduceslaborshareatimpact,makingitcountercyclical;it
subsequentlyproducesalong-lastingincreasethatpeaksfiveyearslateratalevellarger
in absolutetermsthantheinitialdrop,beforeslowlyreturningtoaverage,i.e.,laborshare
overshoots. Weestimateabivariateshockprocesstotheproductionfunctionthatunder
competitioninfactormarketsaccountsforthisovershooting.Weposethisprocessinan
otherwisestandardrealbusinesscycleeconomy,andwefindthatthecontributionof
productivityinnovationstothevarianceofhoursis1%ofthatinthestandardRBCmodel.
Journal title
Journal of Monetary Economics
Serial Year
2010
Journal title
Journal of Monetary Economics
Record number
846439
Link To Document