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General Equilibrium Effects and Labor Market Fluctuations
http://hdl.handle.net/2237/0002001112
http://hdl.handle.net/2237/000200111265605d0c-2a0d-4960-8f65-2b56dcd9de48
名前 / ファイル | ライセンス | アクション |
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Item type | itemtype_ver1(1) | |||||||||
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公開日 | 2021-06-23 | |||||||||
タイトル | ||||||||||
タイトル | General Equilibrium Effects and Labor Market Fluctuations | |||||||||
言語 | en | |||||||||
著者 |
Kudoh, Noritaka
× Kudoh, Noritaka
× Miyamoto, Hiroaki
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アクセス権 | ||||||||||
アクセス権 | open access | |||||||||
アクセス権URI | http://purl.org/coar/access_right/c_abf2 | |||||||||
キーワード | ||||||||||
主題Scheme | Other | |||||||||
主題 | labor market search | |||||||||
キーワード | ||||||||||
主題Scheme | Other | |||||||||
主題 | stochastic discount factor | |||||||||
キーワード | ||||||||||
主題Scheme | Other | |||||||||
主題 | unemployment volatility | |||||||||
内容記述 | ||||||||||
内容記述 | Business cycle models with search-matching frictions are studied to evaluate the importance of general equilibrium effects generated by movements in the stochastic discount factor and the income effect on labor supply. Without variable hours of work, the general equilibrium effect works only through the stochastic discount factor and is quantitatively very weak. With variable hours of work, the income effect operates to generate procyclical movements in the value of leisure and the marginal hourly wage rate. This effect is sizable and dampens labor market fluctuations. We also study discount factor shocks and find that capital formation strongly enhances labor market fluctuations. | |||||||||
言語 | en | |||||||||
内容記述タイプ | Abstract | |||||||||
内容記述 | ||||||||||
内容記述 | Part of this research is financially supported by KAKENHI (17K03619, 20H01476). | |||||||||
言語 | en | |||||||||
内容記述タイプ | Other | |||||||||
出版者 | ||||||||||
言語 | ja | |||||||||
出版者 | 名古屋大学大学院経済学研究科附属国際経済政策研究センター | |||||||||
出版者 | ||||||||||
言語 | en | |||||||||
出版者 | Economic Research Center Graduate School of Economics NAGOYA UNIVERSITY | |||||||||
言語 | ||||||||||
言語 | eng | |||||||||
資源タイプ | ||||||||||
資源タイプresource | http://purl.org/coar/resource_type/c_6501 | |||||||||
タイプ | departmental bulletin paper | |||||||||
出版タイプ | ||||||||||
出版タイプ | VoR | |||||||||
出版タイプResource | http://purl.org/coar/version/c_970fb48d4fbd8a85 | |||||||||
書誌情報 |
en : Economic Research Center Discussion Paper E-Series 号 E21-4, p. 1-26, 発行日 2021-06 |