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1by Bureau d’économie théorique et appliquée, Nancy, Cardi, Olivier, Claeys, Peter, Restout, Romain“…Our quantitative analysis shows that our empirical findings for aggregate and sectoral variables can be rationalized as long as we allow for a difficulty in reallocating labor across sectors along with adjustment costs to capital accumulation. …”
Published 2016
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2“…We show that these empirical findings can be rationalized in a two-sector open economy model with search in the labor market as long as we allow for an endogenous sectoral labor force participation decision. …”
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