Technology shocks and sectoral labour market spill-overs

Catalin-Florinel Dragomirescu-Gaina, Leandro Elia*

*Autore corrispondente per questo lavoro

Risultato della ricerca: Contributo in rivistaArticolo in rivista

Abstract

In a multi-sector model estimated on U.S. data, we apply standard long-run restrictions to investigate the labour market consequences of investment-specific and neutral technology shocks. We set up a global VAR model where aggregate technology shocks feed onto sector-specific dynamics and then propagate back through the network structure of the economy. At the aggregate level, our results are consistent with the wealth of existing empirical studies where investment-specific technology shocks trigger favourable employment responses, in contrast to neutral technology shocks. At a disaggregate level, however, we uncover the significant contribution of sectoral spill-overs in response to technology shocks, particularly in driving the adjustment towards long-term equilibrium.
Lingua originaleEnglish
pagine (da-a)N/A-N/A
RivistaEconomics Letters
Volume201
DOI
Stato di pubblicazionePubblicato - 2021

Keywords

  • Global VAR
  • Job creation and destruction
  • Technology shocks

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