The Cyclical and Secular Behavior of the Labor Input : Comparing Efficiency Units and Hours Worked
AbstractA monthly labor input series designed to correct for the fact that all hours worked are not of the same quality is constructed and its properties compared with unadjusted hours worked. This efficiency unites series is constructed from BLS data on hours worked and earnings by age and sex. The cyclical fluctuations displayed by the efficiency units series are smaller on average than those displayed by hours worked, although the difference is not large. However, the secular behavior of the series is quite different: hours worked per capita displays a significant positive trend while efficiency units per capita does not. Copyright 1993 by John Wiley & Sons, Ltd.
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Bibliographic InfoPaper provided by California Los Angeles - Applied Econometrics in its series Papers with number 36.
Length: 13 pages
Date of creation: 1991
Date of revision:
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Postal: UNIVERSITY OF CALIFORNIA AT LOS ANGELES, DEPARTMENT OF ECONOMICS, PROGRAM IN APPLIED ECONOMETRICS, LOS ANGELES CALIFORNIA 90024 U.S.A.
Phone: (310) 825 1011
Fax: (310) 825 9528
Web page: http://www.econ.ucla.edu/
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labour market ; business cycles ; statistics;
Other versions of this item:
- Hansen, G D, 1993. "The Cyclical and Secular Behaviour of the Labour Input: Comparing Efficiency Units and Hours Worked," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 8(1), pages 71-80, Jan.-Marc.
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