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Time Series Representations of Economic Variables and Alternative Models of the Labour Market

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Listed:
  • Orley Ashenfelter
  • David Card

Abstract

Accepting the hypothesis that the time-series "facts" of the aggregate labour market may be summarized by the linear autoregressive and moving average representations of wages, prices, unemployment, and interest rates implies that a useful theory ought to lead to predictions about these representations. Following this approach, this paper first catalogues many of the time-series facts about the aggregate labour market and then compares them against alternative models of the labour market based on the intertemporal substitution and staggered contract hypotheses.

Suggested Citation

  • Orley Ashenfelter & David Card, 1982. "Time Series Representations of Economic Variables and Alternative Models of the Labour Market," Review of Economic Studies, Oxford University Press, vol. 49(5), pages 761-782.
  • Handle: RePEc:oup:restud:v:49:y:1982:i:5:p:761-782.
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    Cited by:

    1. Bierens, H.J. & Broersma, L., 1991. "The relation between unemployment and interest rate : some international evidence," Serie Research Memoranda 0112, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    2. Altonji, Joseph G & Ham, John C, 1990. "Variation in Employment Growth in Canada: The Role of External, National, Regional, and Industrial Factors," Journal of Labor Economics, University of Chicago Press, vol. 8(1), pages 198-236, January.
    3. Babatunde Abidoye & Peter Orazem & Milan Vodopivec, 2014. "Mandatory costs by firm size thresholds: firm location, growth and death in Sri Lanka," IZA Journal of Labor & Development, Springer;Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 3(1), pages 1-20, December.
    4. Broersma, L., 1991. "The relation between unemployment and interest rate : application of an ARX approach," Serie Research Memoranda 0057, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    5. Peter F. Orazem & J. Peter Mattila, 2002. "Minimum Wage Effects on Hours, Employment, and Number of Firms: The Iowa Case," Journal of Labor Research, Transaction Publishers, vol. 23(1), pages 3-23, January.
    6. David S. Lee & Alexandre Mas, 2012. "Long-Run Impacts of Unions on Firms: New Evidence from Financial Markets, 1961--1999," The Quarterly Journal of Economics, Oxford University Press, vol. 127(1), pages 333-378.
    7. Card, David, 1986. "Efficient Contracts with Costly Adjustment: Short-run Employment Determination for Airline Mechanics," American Economic Review, American Economic Association, vol. 76(5), pages 1045-1071, December.
    8. López, Jesús. & Acevedo-Villalobos, María Cecilia., 2013. "El acceso a los mercados y la disparidad del ingreso en los departamentos colombianos," El Trimestre Económico, Fondo de Cultura Económica, vol. 0(320), pages 869-901, octubre-d.
    9. Orley Ashenfelter & David Card, 1986. "Why Have Unemployment Rates in Canada and the U.S. Diverged?," NBER Working Papers 1840, National Bureau of Economic Research, Inc.
    10. David S. Lee & Alexandre Mas, 2009. "Long-Run Impacts of Unions on Firms: New Evidence from Financial Markets, 1961-1999," Working Papers 1117, Princeton University, Department of Economics, Industrial Relations Section..
    11. Jeffrey S. Zax, 1986. "Trends and Deviations in Federal, State and Local Finance," NBER Working Papers 2063, National Bureau of Economic Research, Inc.
    12. Quentin Giai Gianetto & Hamdi Raïssi, 2015. "Testing Instantaneous Causality in Presence of Nonconstant Unconditional Covariance," Journal of Business & Economic Statistics, Taylor & Francis Journals, vol. 33(1), pages 46-53, January.
    13. repec:pri:cepsud:182lee is not listed on IDEAS
    14. Kunst, Robert M & Marin, Dalia, 1989. "On Exports and Productivity: A Causal Analysis," The Review of Economics and Statistics, MIT Press, vol. 71(4), pages 699-703, November.
    15. McCurdy, Thomas H. & Yannelis, Demetrius C., 1985. "Simultaneous Price-Quantity Adjustments in the Presence of Spillovers Across Markets," Queen's Institute for Economic Research Discussion Papers 275195, Queen's University - Department of Economics.
    16. Broersma, L. & Franses, P.H., 1992. "A model for quarterly unemployment in Canada," Serie Research Memoranda 0011, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    17. Douglas Holtz-Eakin & Whitney K. Newey & Harvey S. Rosen, 1989. "Implementing Causality Tests with Panel Data, with an Example from LocalPublic Finance," NBER Technical Working Papers 0048, National Bureau of Economic Research, Inc.

    More about this item

    JEL classification:

    • M19 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Other

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