Paul Beaudry
Biographic Data
| ID | 5739009 |
|---|---|
| NAME | Paul Beaudry |
| GIVEN NAMES | Paul |
| FAMILY NAME | Beaudry |
| SIGNATURE | BEAUDRY P |
| AFFILIATIONS | University of British Columbia |
| VERIFIED | No |
| TOTAL WORKS | 16 |
| TOTAL CITATIONS | 63 |
| AUTHOR COUNT | 16 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1991 |
| LATEST PUBLICATION YEAR | 2016 |
| H-INDEX | 3 |
The Great Reversal in the Demand for Skill and Cognitive Tasks
This paper argues that several of the poor labor market outcomes observed in the Great Recession can be traced back to a change in the demand pattern for skilled workers that started with the tech bust of 2000. In particular, we show that around the year 2000, the demand for cognitive tasks underwent a reversal. In response, high-skilled workers moved down the occupational ladder and increasingly displaced lower-educated workers in less skill-int…
Putting the Cycle Back into Business Cycle Analysis
This paper begins by re-examining the spectral properties of several cyclically sensitive variables such as hours worked, unemployment and capacity utilization. For each of these series, we document the presence of an important peak in the spectral density at a periodicity of approximately 36-40 quarters. We take this pattern as suggestive of intriguing but little-studied cyclical phenomena at the long end of the business cycle, and we ask how be…
When is Nonfundamentalness in VARs a Real Problem? An Application to News Shocks
When the VAR representation of a times series has a non-fundamental representation, standard SVAR techniques cannot be used to exactly identify the effects of structural shocks. This problem is know to potentially arise when one of the structural shocks represents news about the future. However, as we shall show, in many case the non-fundamental representation of a time series may be very close to its fundamental representation implying that stan…
Spatial equilibrium with unemployment and wage bargaining
Comparing Two Methods for the Identification of News Shocks
News Driven Business Cycles
There is a widespread belief that changes in expectations may be an important independent driver of economic fluctuations. The news view of business cycles offers a formalization of this perspective
A Gains from Trade Perspective on Macroeconomic Fluctuations
Should the Personal Computer Be Considered a Technological Revolution? Evidence from U.S. Metropolitan Areas
The introduction and diffusion of personal computers are widely viewed as a technological revolution. Using U.S. metropolitan area–level panel data, this paper asks whether links between PC adoption, educational attainment, and the return to skill conform to a model of technological revolutions in which the speed and extent of adoption are endogenous. The model implies that cities will adjust differently to the arrival of a more skill-intensive m…
Gold Rush Fever in Business Cycles
Gold rushes are periods of economic boom, generally associated with large increases in expenditures aimed at securing claims near new found veins of gold. An interesting aspect of gold rushes is that, from a social point of view, much of the increased activity is wasteful since it contributes simply to the expansion of the stock of money. In this paper, we explore whether business cycle fluctuations may sometimes be driven by a phenomenon akin to…
Stock Prices, News, and Economic Fluctuations
A common view in macroeconomics is that business cycles can be meaningfully decomposed into fluctuations driven by demand shocks - which are shocks that have no short- or long-run effects on productivity - and fluctuations driven by unexpected changes in technology. In this Paper we propose a means of evaluating this view and we show that it is strongly at odds with the data. In contrast, we show that the data favours a view of business cycles dr…
Changes in the World Distribution of Output Per Worker, 1960–1998
Why have some countries done so much better than others over the recent past? This paper sheds light on this issue by providing a decomposition of the change in the distribution of output per worker across countries over the period 1960–1998. We find that most of the change in shape of the world distribution of income can be accounted for by a very substantial increase in the social returns to capital accumulation. In contrast, we do not find sig…
An exploration into Pigou's theory of cycles
What Is Happening in the Youth Labour Market in Canada
Paul Beaudry, Thomas Lemieux, Daniel Parent, What Is Happening in the Youth Labour Market in Canada?, Canadian Public Policy / Analyse de Politiques, Vol. 26, Supplement: Structural Aspects of Unemployment in Canada (Jul., 2000), pp. S59-S83
Les défis du virage ambulatoire dans les services de santé mentale à Montréal
The Intertemporal Elasticity of Substitution
This paper uses state-level consumption data to estimate the intertemporal elasticity of substitution of consumption (IES). In contrast to the results of Hall (1988) and Campbell and Mankiw (1989), we provide evidence indicating that the IES is significantly different from zero and probably close to one. Since inference about the IES in the context of the standard Euler equation is problematic as a result of mis-specification bias, we cast most o…
The Effect of Implicit Contracts on the Movement of Wages Over the Business Cycle
In this paper, the authors address the question of whether wages are affected by labor-market conditions in a manner more consistent with a contract approach than with a standard spot market model. From a simple implicit contract model, they derive implications about the links between wages and past labor market conditions. Using individual data from the Current Population Survey and the Panel Study of Income Dynamics, the authors find that an im…
Should the Personal Computer Be Considered a Technological Revolution? Evidence from U.S. Metropolitan Areas
The introduction and diffusion of personal computers are widely viewed as a technological revolution. Using U.S. metropolitan area–level panel data, this paper asks whether links between PC adoption, educational attainment, and the return to skill conform to a model of technological revolutions in which the speed and extent of adoption are endogenous. The model implies that cities will adjust differently to the arrival of a more skill-intensive m…
The Effect of Implicit Contracts on the Movement of Wages Over the Business Cycle
In this paper, the authors address the question of whether wages are affected by labor-market conditions in a manner more consistent with a contract approach than with a standard spot market model. From a simple implicit contract model, they derive implications about the links between wages and past labor market conditions. Using individual data from the Current Population Survey and the Panel Study of Income Dynamics, the authors find that an im…
Spatial equilibrium with unemployment and wage bargaining
What Is Happening in the Youth Labour Market in Canada
Paul Beaudry, Thomas Lemieux, Daniel Parent, What Is Happening in the Youth Labour Market in Canada?, Canadian Public Policy / Analyse de Politiques, Vol. 26, Supplement: Structural Aspects of Unemployment in Canada (Jul., 2000), pp. S59-S83
The Intertemporal Elasticity of Substitution
This paper uses state-level consumption data to estimate the intertemporal elasticity of substitution of consumption (IES). In contrast to the results of Hall (1988) and Campbell and Mankiw (1989), we provide evidence indicating that the IES is significantly different from zero and probably close to one. Since inference about the IES in the context of the standard Euler equation is problematic as a result of mis-specification bias, we cast most o…
The Effect of Implicit Contracts on the Movement of Wages Over the Business Cycle
In this paper, the authors address the question of whether wages are affected by labor-market conditions in a manner more consistent with a contract approach than with a standard spot market model. From a simple implicit contract model, they derive implications about the links between wages and past labor market conditions. Using individual data from the Current Population Survey and the Panel Study of Income Dynamics, the authors find that an im…
Les défis du virage ambulatoire dans les services de santé mentale à Montréal
The Intertemporal Elasticity of Substitution
This paper uses state-level consumption data to estimate the intertemporal elasticity of substitution of consumption (IES). In contrast to the results of Hall (1988) and Campbell and Mankiw (1989), we provide evidence indicating that the IES is significantly different from zero and probably close to one. Since inference about the IES in the context of the standard Euler equation is problematic as a result of mis-specification bias, we cast most o…
What Is Happening in the Youth Labour Market in Canada
Paul Beaudry, Thomas Lemieux, Daniel Parent, What Is Happening in the Youth Labour Market in Canada?, Canadian Public Policy / Analyse de Politiques, Vol. 26, Supplement: Structural Aspects of Unemployment in Canada (Jul., 2000), pp. S59-S83
An exploration into Pigou's theory of cycles
Changes in the World Distribution of Output Per Worker, 1960–1998
Why have some countries done so much better than others over the recent past? This paper sheds light on this issue by providing a decomposition of the change in the distribution of output per worker across countries over the period 1960–1998. We find that most of the change in shape of the world distribution of income can be accounted for by a very substantial increase in the social returns to capital accumulation. In contrast, we do not find sig…
Gold Rush Fever in Business Cycles
Gold rushes are periods of economic boom, generally associated with large increases in expenditures aimed at securing claims near new found veins of gold. An interesting aspect of gold rushes is that, from a social point of view, much of the increased activity is wasteful since it contributes simply to the expansion of the stock of money. In this paper, we explore whether business cycle fluctuations may sometimes be driven by a phenomenon akin to…
Stock Prices, News, and Economic Fluctuations
A common view in macroeconomics is that business cycles can be meaningfully decomposed into fluctuations driven by demand shocks - which are shocks that have no short- or long-run effects on productivity - and fluctuations driven by unexpected changes in technology. In this Paper we propose a means of evaluating this view and we show that it is strongly at odds with the data. In contrast, we show that the data favours a view of business cycles dr…
Should the Personal Computer Be Considered a Technological Revolution? Evidence from U.S. Metropolitan Areas
The introduction and diffusion of personal computers are widely viewed as a technological revolution. Using U.S. metropolitan area–level panel data, this paper asks whether links between PC adoption, educational attainment, and the return to skill conform to a model of technological revolutions in which the speed and extent of adoption are endogenous. The model implies that cities will adjust differently to the arrival of a more skill-intensive m…
A Gains from Trade Perspective on Macroeconomic Fluctuations
Comparing Two Methods for the Identification of News Shocks
News Driven Business Cycles
There is a widespread belief that changes in expectations may be an important independent driver of economic fluctuations. The news view of business cycles offers a formalization of this perspective
Spatial equilibrium with unemployment and wage bargaining
When is Nonfundamentalness in VARs a Real Problem? An Application to News Shocks
When the VAR representation of a times series has a non-fundamental representation, standard SVAR techniques cannot be used to exactly identify the effects of structural shocks. This problem is know to potentially arise when one of the structural shocks represents news about the future. However, as we shall show, in many case the non-fundamental representation of a time series may be very close to its fundamental representation implying that stan…
The Great Reversal in the Demand for Skill and Cognitive Tasks
This paper argues that several of the poor labor market outcomes observed in the Great Recession can be traced back to a change in the demand pattern for skilled workers that started with the tech bust of 2000. In particular, we show that around the year 2000, the demand for cognitive tasks underwent a reversal. In response, high-skilled workers moved down the occupational ladder and increasingly displaced lower-educated workers in less skill-int…
Putting the Cycle Back into Business Cycle Analysis
This paper begins by re-examining the spectral properties of several cyclically sensitive variables such as hours worked, unemployment and capacity utilization. For each of these series, we document the presence of an important peak in the spectral density at a periodicity of approximately 36-40 quarters. We take this pattern as suggestive of intriguing but little-studied cyclical phenomena at the long end of the business cycle, and we ask how be…
Economics (15 works) · Monetary Policy and Economic Impact (10 works) · Econometrics (8 works) · Economic theories and models (7 works) · Macroeconomics (7 works) · Computer Science (6 works) · Labour economics (6 works) · Business cycle (5 works) · Keynesian economics (5 works) · Boom (4 works)