Title of article :
On theemploymenteffectsofproductivityshocks:Theroleof
inventories,demandelasticity,andstickyprices$
Author/Authors :
YongsungChang، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 2008
Abstract :
Whethertechnologicalprogressraisesorlowersemploymentintheshortrunhasbeen
thesubjectofmuchdebateintherecentyears.Weshowthatcross-industrydifferences
in inventoryholdingcosts,demandelasticities,andpricerigiditiespotentiallyallaffect
employmentdecisionsinthefaceofproductivityshocks.Inparticular,theemployment
response toapermanentproductivityshockismorelikelytobepositivethelesscostlyit
is toholdinventories,themoreelasticindustrydemandis,andthemoreflexibleprices
are. Usingdataon4584-digitU.S.manufacturingindustriesovertheperiod1958–1996,
we findstatisticallysignificanteffectsofvariationsininventoryholdingsanddemand
elasticitiesonshort-runemploymentresponses,butlessconclusiveevidencepertaining
to theeffectsofmeasuredpricestickiness.
Keywords :
ProductivityEmploymentInventoryinvestmentStickyprices
Journal title :
Journal of Monetary Economics
Journal title :
Journal of Monetary Economics
