Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/50629
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dc.contributor.authorOtsu, Keisukeen_US
dc.contributor.authorSaito, Masashien_US
dc.date.accessioned2011-03-24en_US
dc.date.accessioned2011-10-21T16:53:29Z-
dc.date.available2011-10-21T16:53:29Z-
dc.date.issued2011en_US
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_US
dc.language.isoengen_US
dc.publisher|aUniv. of Kent, School of Economics |cCanterburyen_US
dc.relation.ispartofseries|aSchool of Economics discussion papers |x11,02en_US
dc.subject.jelE13en_US
dc.subject.jelE32en_US
dc.subject.ddc330en_US
dc.subject.keywordlabor reallocationsen_US
dc.subject.keywordfinancial relationshipen_US
dc.subject.keywordorganizational capitalen_US
dc.subject.keywordTFPen_US
dc.subject.keywordaggregate fluctuationsen_US
dc.titleOrganizational dynamics and aggregate fluctuations: The role of financial relationshipsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn654777578en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US

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