RT Journal Article
T1 The Dynamic Effects of Shocks to Labour Markets: Evidence from OECD Countries
A1 Dolado, Juan José
A1 López-Salido, J. David
A1 Balmaseda, Manuel
AB This paper uses a set of plausible long-run identifying restrictions on a three-variable system, including output growth, real wage growth, and the unemployment rate, to isolate three independent structural shocks which drive fluctuations in those variables in a sample of 16 OECD countries during 1950-96. These shocks are interpreted as aggregate demand, productivity, and labour supply disturbances. As a by-product of the previous analysis, the cyclical behaviour of real wages in response to a demand shock is re-examined and two indices of real wage rigidity are derived.
SN 1464-3812
YR 2000
FD 2000-01
LK https://hdl.handle.net/10016/3272
UL https://hdl.handle.net/10016/3272
LA eng
DS e-Archivo
RD 1 may. 2024