Economic fluctuations in a model with an overlapping structure of employment

Matsue Toyoki ()
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Matsue Toyoki: Faculty of Economics, Hiroshima University of Economics, 5-37-1 Gion, Asaminamiku, Hiroshima 731-0192, Japan, and Research Fellow, Graduate School of Economics, Kobe University

Economics and Business Review, 2021, vol. 7, issue 3, 5-15

Abstract: This study presents a dynamic general equilibrium model with an explicit employment period and investigates economic fluctuations to a temporary productivity shock. Numerical experiments indicate oscillatory responses of new hiring and employment to the shock which are not observed in a standard flexible price model. The explicit employment period constructs an overlapping structure of employment which results in the oscillatory response. This study also examines the effects of change in employment period to economic fluctuations and shows that the variations in new hiring are higher when the employment period is long.

Keywords: economic fluctuations; employment; employment period; oscillatory response (search for similar items in EconPapers)
JEL-codes: E24 E32 J20 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:ecobur:v:7:y:2021:i:3:p:5-15:n:1

DOI: 10.18559/ebr.2021.3.2

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