Learning by Doing as a Propagation Mechanism
Yongsung Chang (),
João Gomes () and
Frank Schorfheide ()
No 3599, CEPR Discussion Papers from C.E.P.R. Discussion Papers
This Paper suggests that skill accumulation through past work experience, or ‘learning-by-doing’ (LBD), can provide an important propagation mechanism in a dynamic stochastic general equilibrium model, as the current labour supply affects future productivity. Our econometric analysis uses a Bayesian approach to combine micro-level panel data with aggregate time series. Formal model evaluation shows that the introduction of the LBD mechanism improves the model's ability to fit the dynamics of aggregate output and hours.
Keywords: business cycles; labour supply; learning by doing; propagation (search for similar items in EconPapers)
JEL-codes: C52 E32 J22 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (92) Track citations by RSS feed
Downloads: (external link)
CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at firstname.lastname@example.org
Journal Article: Learning-by-Doing as a Propagation Mechanism (2002)
Working Paper: Learning by Doing as a Propagation Mechanism (2002)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:cpr:ceprdp:3599
Ordering information: This working paper can be ordered from
http://www.cepr.org/ ... ers/dp.php?dpno=3599
Access Statistics for this paper
More papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.
Bibliographic data for series maintained by ().