Technology Shocks and Employment
Bibliographic Data
| ID | 9706896 |
|---|---|
| Authors | Fabrice Collard (0009-0008-3534-0511, GREMAQ‐CNRS, Toulouse), Harris Dellas (University of Bern and CEPR) |
| Year | 2007 |
| Volume | 117 |
| Issue | 523 |
| Pages | 1436-1459 |
| Publication date | 2007-10-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/j.1468-0297.2007.02090.x |
| OpenAlex | W2093636844 |
| Language | EN |
| Citations received | 1 |
| References cited | 15 |
Recent empirical work has suggested that in response to a positive technology shock employment shows a persistent decline. We show that the standard, open economy, flexible price model can generate a negative response of employment to a positive technology shock and can also match the negative conditional correlation between productivity and employment quite well if trade elasticities are low. While the model also has good overall properties, it fails to generate sufficient procyclicality in employment. This finding indicates that the RBC model faces a tension between accounting for the negative response of employment to technology shocks and simultaneously maintaining that technology shocks are the major source of business cycle fluctuations
Business cycle · Dynamic stochastic general equilibrium · Econometrics · Economics · Labour economics · Macroeconomics · Monetary economics · Monetary policy · Negative correlation · Positive correlation · Productivity · Shock (circulatory · Technology shock · Work (physics · Economic Growth and Productivity · Economic Policies and Impacts · Monetary Policy and Economic Impact
| Unique citing works | 1 |
|---|---|
| Citations per year | 0,09 |
| Citation span | 2015 - 2015 (1) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 1 |