The effects of macroeconomic policy shoc
β
Athanasios Tagkalakis
π
Article
π
2006
π
John Wiley and Sons
π
English
β 234 KB
π 1 views
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