An Econometric Analysis of Fluctuations in Aggregate Labor Supply and Demand
总量劳动供给与需求波动的计量分析AI 解读 ↓
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AI 根据所提供的论文材料归类:摘要研究总量就业和工资的序列相关,并明确从供需冲击推导受约束 VAR(2),直接对应时间序列与 VAR 分析。
总量劳动供给与需求波动的计量分析AI 解读 ↓
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This paper contains an equilibrium model of the labor market. The supply function allows f or temporal substitution in response to wage fluctuations, and the de mand function allows for adjustment costs. Two related issues are emp hasized: identification of supply and demand functions, and sources o f serial correlation in employment and real wages. When the supply an d demand shocks are AR(1) processes, the equilibrium process for empl oyment and real wages is a restricted VAR(2). The supply and demand f unctions are (locally) identified using only employment and real wage data. An illustrative application is presented, using U.S. data for 1948-71. Copyright 1988 by The Econometric Society.
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紧识别SVAR中基于“软”符号限制的快速后验抽样
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基于条件异方差识别日度油价冲击及其不确定性
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重新审视石油供给新闻冲击:代理变量与非高斯结构向量自回归
ABSTRACT We replicate a study by Känzig ( American Economic Review , 111 (2021), 1092–1125), who employs structural vector autoregressive techniques to examine the impact of changes in oil supply expectations on the price of oil and other macroeconomic aggregates. Känzig identifies an oil supply news shock by constructing a proxy from OPEC announcements about their production plans. As an alternative approach, we use non‐Gaussianity and independence to identify structural…