Revisiting the macroeconomic effects of labor reallocation
We revisit the macroeconomic effects of labor reallocation within the framework of Campbell and Kuttner (1996). We re-estimate their model, update the sample, and employ generalized and local impulse response functions. We confirm that total employment responses to reallocation shocks remain significant.
|Date of creation:||Jun 2017|
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- Blanchard, Olivier Jean & Quah, Danny, 1989.
"The Dynamic Effects of Aggregate Demand and Supply Disturbances,"
American Economic Review,
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