Sources of growth and the spectral properties of the labor market search model

This paper studies the dynamic properties of the labor market search model using three alternative sources of growth. Deterministic and stochastic exogenous growth specifications are compared with an endogenous growth specification, which is based on an external learning-by-doing mechanism. We apply...

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Bibliographic Details
Published in:Journal of economic dynamics & control 2004-07, Vol.28 (9), p.1903-1923
Main Authors: Matheron, Julien, Maury, Tristan-Pierre, Tripier, Fabien
Format: Article
Language:English
Subjects:
Business cycles
Economic growth
Economics
Endogenous growth
Labor market
Labor market search
Labour market
Real business cycle
Regression analysis
Stochastic models
Studies
Watson's test
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Summary:This paper studies the dynamic properties of the labor market search model using three alternative sources of growth. Deterministic and stochastic exogenous growth specifications are compared with an endogenous growth specification, which is based on an external learning-by-doing mechanism. We apply Watson's (J. Political Economy 101 (6) (1993) 1011) test to assess the models’ performances over different frequency ranges. It is shown that the endogenous growth specification can bring the labor market search model into closer conformity with the data than its exogenous counterparts.
ISSN:0165-1889
1879-1743
DOI:10.1016/j.jedc.2002.11.001