Demand Uncertainty and Labour Input in a Bivariate ARCH-M Model

Gebhard Flaig

No 1992031, Discussion Papers (REL - Recherches Economiques de Louvain) from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)

Abstract: This paper analyses the impact of input uncertainty on labour demand. An ARCH-M model is incorporated into an error-correction framework which allows to model both short- and long-run labour demand. The conditional variance of unexpected output changes serves as a proxy for demand uncertainty. The output and employment equations are estimated simultaneously for the West-German manufacturing sector.

Pages: 14
Date: 1992-09-01
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