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作者:Hanes, C
作者单位:University of Mississippi
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作者:McConnell, MM; Perez-Quiros, G
作者单位:Federal Reserve System - USA; Federal Reserve Bank - New York; European Central Bank
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作者:Hanushek, EA; Kimko, DD
作者单位:Stanford University; National Bureau of Economic Research
摘要:Direct measures of labor-force quality from international mathematics and science test scores are strongly related to growth. Indirect specification tests are generally consistent with a causal link: direct spending on schools is unrelated to student performance differences; the estimated growth effects of improved labor-force quality hold when East Asian countries are excluded; and, finally, home-country quality differences of immigrants are directly related to U.S. earnings if the immigrants...
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作者:Schmitt-Grohé, S
作者单位:Rutgers University System; Rutgers University New Brunswick; Center for Economic & Policy Research (CEPR)
摘要:This paper studies the business-cycle fluctuations predicted by a two-sector endogenous-business-cycle model with sector-specific external increasing returns to scale. It focuses on aspects of actual fluctuations that have been identified both as defining features of business cycles and as ones standard real-business-cycle models cannot explain. For empirically realistic calibrations of the degree of returns to scale, the results suggest that endogenous fluctuations do not provide the dynamic ...
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作者:Mundell, RA
作者单位:Columbia University
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作者:Card, D; Krueger, AB
作者单位:University of California System; University of California Berkeley; National Bureau of Economic Research; Princeton University
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作者:Yashiv, E
作者单位:Tel Aviv University
摘要:The paper takes the search and matching model of the aggregate labor market to the data. It tests the model's empirical validity and employs structural estimation to generate a characterization of the optimal behavior of firms and workers. The model is applied to Israeli data that are uniquely suited for this kind of empirical investigation. The structural estimates are used to quantify the frictions embodied in the model, including the costs of search, the congestion and trading externality e...