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Effects of Macroeconomic Policies on Output Fluctuations in Bulgaria

✍ Scribed by A. M. M. Jamal; Yu Hsing; Richard David Ramsey

Publisher
Springer US
Year
2006
Tongue
English
Weight
180 KB
Volume
34
Category
Article
ISSN
0197-4254

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This paper discusses the dynamic response of employment, average hours, and real wages to macroeconomic policy shocks in the UK in the period 1970 Q1-2003 Q1. Following a monetary policy shock the adjustment of labour input is primarily along the extensive margin. However, there is also significant