A simple decomposition of the variance of output growth across countries
AbstractThis paper 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 InfoPaper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 1703.
Length: 7 pages
Date of creation: May 2011
Date of revision:
Intensive margin; extensive margin; productivity; business cycles; variance decomposition;
Other versions of this item:
- Christopher Phillip Reicher, 2012. "A simple decomposition of the variance of output growth across countries," Applied Economics Letters, Taylor & Francis Journals, vol. 19(9), pages 869-872, June.
- 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
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-06-18 (All new papers)
- NEP-BEC-2011-06-18 (Business Economics)
- NEP-ECM-2011-06-18 (Econometrics)
- NEP-LAB-2011-06-18 (Labour Economics)
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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.
- Almut Balleer & Britta Gehrke & Wolfgang Lechthaler & Christian Merkl, 2013. "Does Short-Time Work Save Jobs? A Business Cycle Analysis," Kiel Working Papers 1832, Kiel Institute for the World Economy.
- 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).
- Merkl, Christian & Balleer, Almut & Gehrke, Britta & Lechthaler, Wolfgang, 2013. "Does Short-Time Work Save Jobs?," Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79718, Verein für Socialpolitik / German Economic Association.
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