Inflexible Prices and Procyclical Productivity

1990 ◽  
Vol 105 (4) ◽  
pp. 851 ◽  
Author(s):  
Julio J. Rotemberg ◽  
Lawrence H. Summers
Keyword(s):  
Procyclical Productivity

Labor Hoarding and SRIRL Pardox: Some Evidences from United Kingdom and United States

1997 ◽  
Vol 1 (1) ◽  
pp. 175-189
Author(s):  
Yongkyun Chung
Keyword(s):  
United States ◽  
United Kingdom ◽  
Business Cycle ◽  
Direct Measurement ◽  
Recent Literature ◽  
Competing Hypotheses ◽  
Procyclical Productivity ◽  
Labor Hoarding

The purpose of this study is to investigate the significance of the labor hoarding phenomenon in explaining the SRIRL paradox, or procyclical productivity. Accordingly previous work in these areas is particularly important. First, the direct measurement of labor hoarding shows how prominent the labor hoarding phenomenon is in various industries. Second, evidences of SRIRL at business cycle frequencies are mixed. Third, recent literature on labor hoarding tests indicates that labor hoarding is an indispensible ingredient to explain SRIRL or procyclical productivity among competing hypotheses.

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