Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/45868
Authors: 
Reicher, Christopher Phillip
Year of Publication: 
2011
Series/Report no.: 
Kiel Working Paper 1703
Abstract: 
This paper outlines a simple regression-based method to decompose the variance of an aggregate time series into the variance of its components, which is then applied to measure the relative contributions of productivity, hours per worker, and employment to cyclical output growth across a panel of countries. Measured productivity contributes more to the cycle in Europe and Japan than in the United States. Employment contributes the largest proportion of the cycle in Europe and the United States (but not Japan), which is inconsistent with the idea that higher levels of employment protection in Europe dampen cyclical employment fluctuations.
Subjects: 
Intensive margin
extensive margin
productivity
business cycles
variance decomposition
JEL: 
C32
E24
E32
Document Type: 
Working Paper

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