کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5054401 1476530 2014 8 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Persistence and cycles in US hours worked
ترجمه فارسی عنوان
پایداری و چرخه در ساعتهای ایالات متحده کار می کرد
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی
This paper analyses monthly hours worked in the US over the sample period 1939m1-2011m10 using a cyclical long memory model. This model, which is based on Gegenbauer processes, is characterised by autocorrelations decaying to zero cyclically and hyperbolically, with a spectral density that is unbounded at a non-zero frequency. One reason for choosing this specification is that the periodogram of the hours worked series has a peak at a frequency away from zero. The empirical results confirm that this model works extremely well for hours worked, and it is then employed to analyse their relationship with productivity. It is found that hours worked increase on impact in response to a technology shock (though the effect dies away rapidly), consistently with Real Business Cycle (RBC) models.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Economic Modelling - Volume 38, February 2014, Pages 504-511
نویسندگان
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