Firm Dynamics with Frictional Product and Labor Markets
Firm Dynamics with Frictional Product and Labor Markets
复制标题
产品和劳动力市场摩擦的企业动态
DOI：
10.1111/iere.12510
复制
发表时间：
2021
期刊：
影响因子：
--
通讯作者：
Bihemo
中科院分区：
文献类型：
--
作者：
Kimasa;Bihemo
我们分析了企业间价格、生产率和就业的联合动态，建立了在摩擦性劳动力和产品市场中争夺工人和客户的异质企业的动态均衡模型。使用德国制造企业价格和产出的面板数据，对该模型进行校准，以评估生产率和劳动力市场需求的定量贡献。产品市场摩擦极大地抑制了企业针对生产率冲击进行的就业调整。我们进一步分析总体冲击对生产力和需求的第一和第二时刻的影响，并将其与我们数据中的商业周期特征联系起来。
We analyze the joint dynamics of prices, productivity, and employment across firms, building a dynamic equilibrium model of heterogeneous firms who compete for workers and customers in frictional labor and product markets. Using panel data on prices and output for German manufacturing firms, the model is calibrated to evaluate the quantitative contributions of productivity and demand for the labor market. Product market frictions decisively dampen the firms' employment adjustments to productivity shocks. We further analyze the impact of aggregate shocks to the first and second moments of productivity and demand and relate them to business‐cycle features in our data.