What (really) accounts for the fall in hours after a technology shock?:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C.]
International Monetary Fund
©2012
|
| Schriftenreihe: | IMF working paper
WP/12/211 |
| Schlagworte: | |
| Online-Zugang: | FAW01 FAW02 FLA01 |
| Beschreibung: | Title from PDF title page (IMF Web site, viewed Aug. 29, 2012). - "Institute for Capacity Development Department.". - "August 2012." The paper asks how state of the art DSGE models that account for the conditional response of hours following a positive neutral technology shock compare in a marginal likelihood race. To that end we construct and estimate several competing small-scale DSGE models that extend the standard real business cycle model. In particular, we identify from the literature six different hypotheses that generate the empirically observed decline in worked hours after a positive technology shock. These models alternatively exhibit (i) sticky prices; (ii) firm entry and exit with time to build; (iii) habit in consumption and costly adjustment of investment; (iv) persistence in the permanent technology shocks; (v) labor market friction with procyclical hiring costs; and (vi) Leontief production function with labor-saving technology shocks. In terms of model posterior probabilities, impulse responses, and autocorrelations, the model favored is the one that exhibits habit formation in consumption and investment adjustment costs. A robustness test shows that the sticky price model becomes as competitive as the habit formation and costly adjustment of investment model when sticky wages are included Includes bibliographical references |
| Beschreibung: | 41 pages |
| ISBN: | 1475580576 9781475580570 |
Internformat
MARC
| LEADER | 00000nmm a2200000zcb4500 | ||
|---|---|---|---|
| 001 | BV043786787 | ||
| 003 | DE-604 | ||
| 005 | 00000000000000.0 | ||
| 007 | cr|uuu---uuuuu | ||
| 008 | 160920s2012 |||| o||u| ||||||eng d | ||
| 020 | |a 1475580576 |9 1-4755-8057-6 | ||
| 020 | |a 9781475580570 |9 978-1-4755-8057-0 | ||
| 035 | |a (ZDB-4-EBA)ocn808636008 | ||
| 035 | |a (OCoLC)808636008 | ||
| 035 | |a (DE-599)BVBBV043786787 | ||
| 040 | |a DE-604 |b ger |e aacr | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-1046 |a DE-1047 | ||
| 082 | 0 | |a 332.152 |2 23 | |
| 100 | 1 | |a Rebei, Nooman |d 1972- |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a What (really) accounts for the fall in hours after a technology shock? |c prepared by Nooman Rebei |
| 264 | 1 | |a [Washington, D.C.] |b International Monetary Fund |c ©2012 | |
| 300 | |a 41 pages | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b c |2 rdamedia | ||
| 338 | |b cr |2 rdacarrier | ||
| 490 | 0 | |a IMF working paper |v WP/12/211 | |
| 500 | |a Title from PDF title page (IMF Web site, viewed Aug. 29, 2012). - "Institute for Capacity Development Department.". - "August 2012." | ||
| 500 | |a The paper asks how state of the art DSGE models that account for the conditional response of hours following a positive neutral technology shock compare in a marginal likelihood race. To that end we construct and estimate several competing small-scale DSGE models that extend the standard real business cycle model. In particular, we identify from the literature six different hypotheses that generate the empirically observed decline in worked hours after a positive technology shock. These models alternatively exhibit (i) sticky prices; (ii) firm entry and exit with time to build; (iii) habit in consumption and costly adjustment of investment; (iv) persistence in the permanent technology shocks; (v) labor market friction with procyclical hiring costs; and (vi) Leontief production function with labor-saving technology shocks. In terms of model posterior probabilities, impulse responses, and autocorrelations, the model favored is the one that exhibits habit formation in consumption and investment adjustment costs. A robustness test shows that the sticky price model becomes as competitive as the habit formation and costly adjustment of investment model when sticky wages are included | ||
| 500 | |a Includes bibliographical references | ||
| 650 | 7 | |a Business cycles / Econometric models |2 fast | |
| 650 | 7 | |a Prices / Econometric models |2 fast | |
| 650 | 7 | |a BUSINESS & ECONOMICS / Finance |2 bisacsh | |
| 650 | 4 | |a Wirtschaft | |
| 650 | 4 | |a Ökonometrisches Modell | |
| 650 | 4 | |a Prices |x Econometric models | |
| 650 | 4 | |a Business cycles |x Econometric models | |
| 710 | 2 | |a International Monetary FundXXbInstitute for Capacity Development |e Sonstige |4 oth | |
| 912 | |a ZDB-4-EBA | ||
| 999 | |a oai:aleph.bib-bvb.de:BVB01-029197846 | ||
| 966 | e | |u http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=568208 |l FAW01 |p ZDB-4-EBA |q FAW_PDA_EBA |x Aggregator |3 Volltext | |
| 966 | e | |u http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=568208 |l FAW02 |p ZDB-4-EBA |q FAW_PDA_EBA |x Aggregator |3 Volltext | |
| 966 | e | |u http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=568208 |l FLA01 |p ZDB-4-EBA |q FLA_PDA_EBA |x Aggregator |3 Volltext | |
Datensatz im Suchindex
| _version_ | 1804176622828388352 |
|---|---|
| any_adam_object | |
| author | Rebei, Nooman 1972- |
| author_facet | Rebei, Nooman 1972- |
| author_role | aut |
| author_sort | Rebei, Nooman 1972- |
| author_variant | n r nr |
| building | Verbundindex |
| bvnumber | BV043786787 |
| collection | ZDB-4-EBA |
| ctrlnum | (ZDB-4-EBA)ocn808636008 (OCoLC)808636008 (DE-599)BVBBV043786787 |
| dewey-full | 332.152 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.152 |
| dewey-search | 332.152 |
| dewey-sort | 3332.152 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>03260nmm a2200481zcb4500</leader><controlfield tag="001">BV043786787</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">00000000000000.0</controlfield><controlfield tag="007">cr|uuu---uuuuu</controlfield><controlfield tag="008">160920s2012 |||| o||u| ||||||eng d</controlfield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">1475580576</subfield><subfield code="9">1-4755-8057-6</subfield></datafield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">9781475580570</subfield><subfield code="9">978-1-4755-8057-0</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-4-EBA)ocn808636008</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)808636008</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV043786787</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">aacr</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-1046</subfield><subfield code="a">DE-1047</subfield></datafield><datafield tag="082" ind1="0" ind2=" "><subfield code="a">332.152</subfield><subfield code="2">23</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Rebei, Nooman</subfield><subfield code="d">1972-</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">What (really) accounts for the fall in hours after a technology shock?</subfield><subfield code="c">prepared by Nooman Rebei</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">[Washington, D.C.]</subfield><subfield code="b">International Monetary Fund</subfield><subfield code="c">©2012</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">41 pages</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">IMF working paper</subfield><subfield code="v">WP/12/211</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">Title from PDF title page (IMF Web site, viewed Aug. 29, 2012). - "Institute for Capacity Development Department.". - "August 2012."</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">The paper asks how state of the art DSGE models that account for the conditional response of hours following a positive neutral technology shock compare in a marginal likelihood race. To that end we construct and estimate several competing small-scale DSGE models that extend the standard real business cycle model. In particular, we identify from the literature six different hypotheses that generate the empirically observed decline in worked hours after a positive technology shock. These models alternatively exhibit (i) sticky prices; (ii) firm entry and exit with time to build; (iii) habit in consumption and costly adjustment of investment; (iv) persistence in the permanent technology shocks; (v) labor market friction with procyclical hiring costs; and (vi) Leontief production function with labor-saving technology shocks. In terms of model posterior probabilities, impulse responses, and autocorrelations, the model favored is the one that exhibits habit formation in consumption and investment adjustment costs. A robustness test shows that the sticky price model becomes as competitive as the habit formation and costly adjustment of investment model when sticky wages are included</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">Includes bibliographical references</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">Business cycles / Econometric models</subfield><subfield code="2">fast</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">Prices / Econometric models</subfield><subfield code="2">fast</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">BUSINESS & ECONOMICS / Finance</subfield><subfield code="2">bisacsh</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Wirtschaft</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Ökonometrisches Modell</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Prices</subfield><subfield code="x">Econometric models</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Business cycles</subfield><subfield code="x">Econometric models</subfield></datafield><datafield tag="710" ind1="2" ind2=" "><subfield code="a">International Monetary FundXXbInstitute for Capacity Development</subfield><subfield code="e">Sonstige</subfield><subfield code="4">oth</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-4-EBA</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-029197846</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=568208</subfield><subfield code="l">FAW01</subfield><subfield code="p">ZDB-4-EBA</subfield><subfield code="q">FAW_PDA_EBA</subfield><subfield code="x">Aggregator</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=568208</subfield><subfield code="l">FAW02</subfield><subfield code="p">ZDB-4-EBA</subfield><subfield code="q">FAW_PDA_EBA</subfield><subfield code="x">Aggregator</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=568208</subfield><subfield code="l">FLA01</subfield><subfield code="p">ZDB-4-EBA</subfield><subfield code="q">FLA_PDA_EBA</subfield><subfield code="x">Aggregator</subfield><subfield code="3">Volltext</subfield></datafield></record></collection> |
| id | DE-604.BV043786787 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-10T07:35:07Z |
| institution | BVB |
| isbn | 1475580576 9781475580570 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-029197846 |
| oclc_num | 808636008 |
| open_access_boolean | |
| owner | DE-1046 DE-1047 |
| owner_facet | DE-1046 DE-1047 |
| physical | 41 pages |
| psigel | ZDB-4-EBA ZDB-4-EBA FAW_PDA_EBA ZDB-4-EBA FLA_PDA_EBA |
| publishDate | 2012 |
| publishDateSearch | 2012 |
| publishDateSort | 2012 |
| publisher | International Monetary Fund |
| record_format | marc |
| series2 | IMF working paper |
| spelling | Rebei, Nooman 1972- Verfasser aut What (really) accounts for the fall in hours after a technology shock? prepared by Nooman Rebei [Washington, D.C.] International Monetary Fund ©2012 41 pages txt rdacontent c rdamedia cr rdacarrier IMF working paper WP/12/211 Title from PDF title page (IMF Web site, viewed Aug. 29, 2012). - "Institute for Capacity Development Department.". - "August 2012." The paper asks how state of the art DSGE models that account for the conditional response of hours following a positive neutral technology shock compare in a marginal likelihood race. To that end we construct and estimate several competing small-scale DSGE models that extend the standard real business cycle model. In particular, we identify from the literature six different hypotheses that generate the empirically observed decline in worked hours after a positive technology shock. These models alternatively exhibit (i) sticky prices; (ii) firm entry and exit with time to build; (iii) habit in consumption and costly adjustment of investment; (iv) persistence in the permanent technology shocks; (v) labor market friction with procyclical hiring costs; and (vi) Leontief production function with labor-saving technology shocks. In terms of model posterior probabilities, impulse responses, and autocorrelations, the model favored is the one that exhibits habit formation in consumption and investment adjustment costs. A robustness test shows that the sticky price model becomes as competitive as the habit formation and costly adjustment of investment model when sticky wages are included Includes bibliographical references Business cycles / Econometric models fast Prices / Econometric models fast BUSINESS & ECONOMICS / Finance bisacsh Wirtschaft Ökonometrisches Modell Prices Econometric models Business cycles Econometric models International Monetary FundXXbInstitute for Capacity Development Sonstige oth |
| spellingShingle | Rebei, Nooman 1972- What (really) accounts for the fall in hours after a technology shock? Business cycles / Econometric models fast Prices / Econometric models fast BUSINESS & ECONOMICS / Finance bisacsh Wirtschaft Ökonometrisches Modell Prices Econometric models Business cycles Econometric models |
| title | What (really) accounts for the fall in hours after a technology shock? |
| title_auth | What (really) accounts for the fall in hours after a technology shock? |
| title_exact_search | What (really) accounts for the fall in hours after a technology shock? |
| title_full | What (really) accounts for the fall in hours after a technology shock? prepared by Nooman Rebei |
| title_fullStr | What (really) accounts for the fall in hours after a technology shock? prepared by Nooman Rebei |
| title_full_unstemmed | What (really) accounts for the fall in hours after a technology shock? prepared by Nooman Rebei |
| title_short | What (really) accounts for the fall in hours after a technology shock? |
| title_sort | what really accounts for the fall in hours after a technology shock |
| topic | Business cycles / Econometric models fast Prices / Econometric models fast BUSINESS & ECONOMICS / Finance bisacsh Wirtschaft Ökonometrisches Modell Prices Econometric models Business cycles Econometric models |
| topic_facet | Business cycles / Econometric models Prices / Econometric models BUSINESS & ECONOMICS / Finance Wirtschaft Ökonometrisches Modell Prices Econometric models Business cycles Econometric models |
| work_keys_str_mv | AT rebeinooman whatreallyaccountsforthefallinhoursafteratechnologyshock AT internationalmonetaryfundxxbinstituteforcapacitydevelopment whatreallyaccountsforthefallinhoursafteratechnologyshock |