CYCLICAL FACTOR UTILIZATION

被引：69

作者：

BILS, M

CHO, JO

机构：

[1] NATL BUR ECON RES,CAMBRIDGE,MA 02138

[2] QUEENS UNIV,KINGSTON K7L 3N6,ONTARIO,CANADA

[3] RES CTR EMPLOYMENT & ECON FLUCTUAT,MONTREAL H3C 3J7,PQ,CANADA

来源：

JOURNAL OF MONETARY ECONOMICS | 1994年 / 33卷 / 02期

基金：

美国国家科学基金会;

关键词：

BUSINESS FLUCTUATIONS; FACTOR UTILIZATION;

D O I：

10.1016/0304-3932(94)90005-1

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We introduce procyclical labor and capital utilization, as well as costs of rapidly increasing employment, into a business-cycle model. Plausible variations in factor utilization enable us to explain observed variability of real GNP with considerably smaller economy-wide disturbances. The costs of adjustment create very interesting and realistic lead and lag relationships: employment does not peak until a full quarter after output; workweeks, effort, capital utilization, and productivity all sharply lead the business cycle.

引用

页码：319 / 354

页数：36