Aggregate Uncertainty, Forward Looking Behaviour and the Demand for Manufacturing Labour in the UK

Simon Price

Oxford Bulletin of Economics and Statistics, 1994, vol. 56, issue 3, 267-83

Abstract: Theory suggests that the level of uncertainty may affect the output and employment decisions of firms, although in general the sign of the effect is ambiguous. A GARCH-M estimator is used to model the conditional variance of GDP. This measure is then employed in backward- and forward-looking specifications of the demand for manufacturing labor. The results are that the level of aggregate uncertainty has a significant negative effect on manufacturing employment and that the forward-looking dynamic specification may be rejected against a backward-looking alternative. Copyright 1994 by Blackwell Publishing Ltd

Date: 1994
References: Add references at CitEc
Citations: View citations in EconPapers (7)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:obuest:v:56:y:1994:i:3:p:267-83

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0305-9049

Access Statistics for this article

Oxford Bulletin of Economics and Statistics is currently edited by Christopher Adam, Anindya Banerjee, Christopher Bowdler, David Hendry, Adriaan Kalwij, John Knight and Jonathan Temple

More articles in Oxford Bulletin of Economics and Statistics from Department of Economics, University of Oxford Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().