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Propagation of aggregate demand, firm specific and policy shocks in an economy with labour flows within and between firms of different sizes

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Author Info
Butter, Frank A. G. den (Vrije Universiteit Amsterdam, Faculteit der Economische Wetenschappen en Econometrie (Free University Amsterdam, Faculty of Economics Sciences, Business Administration and Economitrics)
Gameren, Edwin van

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Abstract

This paper illustrates the propagation at the macro level of various types of shocks in a multifirm model representing a miniature economy which consists of firms of 4 different sizes. Our modelling exercise focuses on the interaction between internal and external labour flows. These flows are driven by the strategic behaviour of the firms with respect to fires, labour hoarding and internal versus external hires in case of opening of vacancies. The impulse response effects of our simulations show the mechanisms behind some findings of VAR-analyses, and of theoretical models of labour flows and the business cycle. Examples are the cleansing role of recessions and the larger spread of firm sizes due to technological change.

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Publisher Info
Paper provided by VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics in its series Serie Research Memoranda with number 0019.

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Date of creation: 2000
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Handle: RePEc:dgr:vuarem:2000-19

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Related research
Keywords: labour market flows; hierarchical models of firms; interaction between internal and external labour markets; model simulations; impulse response effects; propagation of shocks;

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Find related papers by JEL classification:
E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation
E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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  1. Steven J. Davis & John Haltiwanger, 1999. "On the Driving Forces behind Cyclical Movements in Employment and Job Reallocation," American Economic Review, American Economic Association, vol. 89(5), pages 1234-1258, December. [Downloadable!] (restricted)
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  2. Butter, Frank A.G. den & Montfort, Kees van & Weitenberg, Gerben T.J., 1999. "Unemployment dynamics, and the propagation of aggregate and reallocation shocks using flow data for the Netherlands," Serie Research Memoranda 0024, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics. [Downloadable!]
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