English, Article, Journal or magazine article edition: Investment-Specific Technology Shocks and Labor Market Frictions Reinout De Bock

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Bookmark: http://trove.nla.gov.au/version/17755
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Investment-Specific Technology Shocks and Labor Market Frictions
Author
  • Reinout De Bock
Physical Description
  • preprint
Notes
  • This paper studies the implications of technical progress through investment-specific technical change in a business cycle model with search and matching frictions and endogenous job destruction. The interaction between the capital formation needed to reap the benefits of an investment-specific technology shock and gradual labor-market matching, generates hump-shaped, persistent responses in output, vacancies, and unemployment. The endogenous job destruction decision also leads to small but persistent endogenous fluctuations in total factor productivity. Simulations suggest a limited role for investment-specific technology shocks as a source of business cycle fluctuations compared to a standard real business cycle model.
  • LaborMarket Frictions, Investment-specific Technology Shocks, Business Cycles
  • RePEc:nbb:reswpp:200701-01
Language
  • English
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