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dc.contributor.authorOtsu, Keisukeen
dc.contributor.authorSaito, Masashien
dc.date.accessioned2011-03-24-
dc.date.accessioned2011-10-21T16:53:29Z-
dc.date.available2011-10-21T16:53:29Z-
dc.date.issued2011-
dc.identifier.urihttp://hdl.handle.net/10419/50629-
dc.description.abstractThis paper constructs a dynamic stochastic general equilibrium model in which labor reallocations between production and organizational tasks generate endogenous TFP movements and also amplify and propagate the effects of exogenous shocks on macroeconomic activity. Organizational tasks in our model enhances financial relationships between firms and lenders, which lowers the credit spread. We calibrate and estimate the model using Japanese data and conduct a quantitative analysis. Our results suggest that the labor reallocation channel considered in this paper contributes greatly to the observed movements in the measured TFP, and serves as a quantitatively important amplification and propagation mechanism in aggregate fluctuations.en
dc.language.isoengen
dc.publisher|aUniversity of Kent, School of Economics |cCanterburyen
dc.relation.ispartofseries|aSchool of Economics Discussion Papers |x11,02en
dc.subject.jelE13en
dc.subject.jelE32en
dc.subject.ddc330en
dc.subject.keywordlabor reallocationsen
dc.subject.keywordfinancial relationshipen
dc.subject.keywordorganizational capitalen
dc.subject.keywordTFPen
dc.subject.keywordaggregate fluctuationsen
dc.titleOrganizational dynamics and aggregate fluctuations: The role of financial relationships-
dc.typeWorking Paperen
dc.identifier.ppn654777578en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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