Labour Share and Productivity Dynamics
研究偏向新工厂的技术冲击如何影响劳动份额和生产率，通过模型估计发现黏土技术、时间偏向和竞争性工资设定能复现劳动份额的过度调整特性。
Abstract We pose technology shocks where the innovation is biased towards more recently installed plants. On one extreme, the shock is like a neutral technological shock, while on the other end it resembles investment-specific technological shocks. We embed these shocks in a model with putty–clay technology and estimate it requiring that the model replicates the volatility properties of the Solow residual and the overshooting property of the labour share of output. Our estimates show that putty–clay nature of technology, a time bias towards new plants and competitive wage setting replicate well the overshooting property.