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Long-Run Productivity Shifts and Cyclical Fluctuations [electronic resource] : Evidence for Italy, Sgherri, Silvia.

Author/Creator:
Sgherri, Silvia.
Publication:
Washington, D.C. : International Monetary Fund, 2005.
Format/Description:
Government document
Book
1 online resource (37 p.)
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 05/228.
IMF Working Papers; Working Paper No. 05/228
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Local subjects:
Aggregate employment. (search)
Business cycle. (search)
Business cycle fluctuations. (search)
Business cycles. (search)
Business Fluctuations. (search)
Cycles. (search)
Economic growth. (search)
Economic models. (search)
Employment. (search)
Employment agencies. (search)
Employment fluctuations. (search)
Employment growth. (search)
Employment indicators. (search)
Employment rate. (search)
Employment rates. (search)
Female labor force. (search)
Gdp growth. (search)
Gdp growth rate. (search)
Growth accounting. (search)
Growth rate. (search)
Growth rates. (search)
Labor force participation. (search)
Labor force population. (search)
Labor participation. (search)
Male labor force. (search)
Nairu. (search)
Private employment. (search)
Private employment agencies. (search)
Rate of unemployment. (search)
Real business cycle. (search)
Real business cycles. (search)
Real gdp. (search)
Self employment. (search)
Source of business cycles. (search)
Time-Series Models. (search)
Total employment. (search)
Total factor productivity. (search)
Unemployment. (search)
Unemployment rate. (search)
Italy. (search)
Summary:
Using unobserved stochastic components and Kalman filter techniques, the paper assesses the relative importance of transitory and permanent shifts in Italian real GDP within a production function framework. Evidence suggests that the increase in hours worked that has accompanied pension and labor market reforms accounts for the bulk of low-frequency variation in growth, but points to factor utilization as the main driver of business cycle fluctuations. In contrast with the predictions of standard Real Business Cycle models, a positive shock to the underlying rate of total factor productivity growth generates a slight decline in hours, whereas the response of output to the same shock is found to be positive.
Notes:
Description based on print version record.
Contributor:
Sgherri, Silvia.
Other format:
Print Version:
ISBN:
1451862474:
9781451862478
ISSN:
1018-5941
Publisher Number:
10.5089/9781451862478.001
Access Restriction:
Restricted for use by site license.