A simple decomposition of the variance of output growth across countries
AbstractThis article outlines a simple regression-based method to decompose the variance of an aggregate time series into the variance of its components, which is then applied to measure the relative contributions of productivity, hours per worker and employment to cyclical output growth across a panel of countries. Measured productivity contributes more to the cycle in Europe and Japan than in the United States. Employment contributes the largest proportion of the cycle in Europe and the United States (but not Japan), which is inconsistent with the idea that higher levels of employment protection in Europe dampen cyclical employment fluctuations.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics Letters.
Volume (Year): 19 (2012)
Issue (Month): 9 (June)
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Other versions of this item:
- Christopher Reicher, 2011. "A simple decomposition of the variance of output growth across countries," Kiel Working Papers 1703, Kiel Institute for the World Economy.
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
- E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
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- Merkl, Christian & Balleer, Almut & Gehrke, Britta & Lechthaler, Wolfgang, 2013.
"Does Short-Time Work Save Jobs? A Business Cycle Analysis,"
Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order
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- Almut Balleer & Britta Gehrke & Wolfgang Lechthaler & Christian Merkl, 2014. "Does Short-Time Work Save Jobs? A Business Cycle Analysis," CESifo Working Paper Series 4640, CESifo Group Munich.
- Balleer, Almut & Gehrke, Britta & Lechthaler, Wolfgang & Merkl, Christian, 2013. "Does Short-Time Work Save Jobs? A Business Cycle Analysis," IZA Discussion Papers 7475, Institute for the Study of Labor (IZA).
- Ryuta Ray Kato & Hiroaki Miyamoto, 2012.
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- Kato, Ryuta Ray & Miyamoto, Hiroaki, 2013. "Fiscal stimulus and labor market dynamics in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 30(C), pages 33-58.
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