RT Dissertation/Thesis
T1 Essays in macroeconomics
A1 Bornukova, Kateryna
AB The thesis consists of three chapters in form of separate papers. Two of the chaptersfocus on family labor supply and its effects on the business cycle behavior of hours worked. Thethird chapter analyses the sources of economic growth in Belarus.The first chapter, Real Business Cycles in Model Economies with a Two-Person Household, studiesmodel economies with a representative two-person household. The standard RBC model cannotreplicate the negative correlation of hours with aggregate labor productivity which we observe inthe U.S. data (-0.18). I show that extending the standard model to include a two-person representativehousehold, home production and extensive margin decision on labor market participationcan generate this negative correlation.In the second chapter, Accounting for Labor Productivity Puzzle, I show that an increase in theshare of two-earner households in the U.S. and corresponding changes in labor supply behavior haveimplications for aggregate business cycles. In particular, it may explain why in the recent decadesaggregate labor productivity in the U.S. became countercyclical (labor productivity puzzle). I builda model with heterogeneous one- and two-earner households and aggregate technology shocks, andcalibrate it to the current U.S. data. I impose the household structure change in the model andshow that the behavior of labor productivity changes from procyclical to countercyclical.The third chapter, Belarusian Economic Growth Decomposition, written in co-authorship withDzmitry Kruk, investigates the sources of the extraordinary growth Belarus experienced in 2000’s.Belarus stands out from the rest of post-Soviet transitional countries. The economic reforms inthe country were limited, and Belarusian economy does not rely on natural resource rents. Wecarefully reconstruct the capital series for Belarus and perform the growth accounting. We findthat Belarus mainly benefited from extensive growth through capital accumulation which quicklydepleted its potential.
YR 2015
FD 2015-11
LK https://hdl.handle.net/10016/22260
UL https://hdl.handle.net/10016/22260
LA eng
NO Tesis por compendio de publicaciones
NO Real business cycles in model economics with a two-person household / Kateryna Bornukova. -- Accounting for labor productivity puzzle / Kateryna Bornukova. --Belarusian Economic Growth decomposition / Dzmitry Kruk and Kateryna Bornukova
DS e-Archivo
RD 30 jun. 2024