Learning by Doing as a Propagation Mechanism

Yongsung Chang, João Gomes () and Frank Schorfheide

Macroeconomics from University Library of Munich, Germany

Abstract: 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 labor 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: Learning by Doing; Propagation Mechanism; Business Cycles; Bayesian Analysis (search for similar items in EconPapers)
JEL-codes: C52 E32 J22 (search for similar items in EconPapers)
Date: 2002-05-01
New Economics Papers: this item is included in nep-dge
Note: Type of Document - pdf; prepared on IBM-PC; to print on HP;
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (125)

Downloads: (external link)
https://econwpa.ub.uni-muenchen.de/econ-wp/mac/papers/0204/0204002.pdf (application/pdf)

Related works:
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) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpma:0204002

Access Statistics for this paper

More papers in Macroeconomics from University Library of Munich, Germany
Bibliographic data for series maintained by EconWPA ( this e-mail address is bad, please contact ).