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The effects of macroeconomic shocks on sector-specific returns

✍ Scribed by Ewing, Bradley T.; Forbes, Shawn M.; Payne, James E.

Book ID
120711474
Publisher
Taylor and Francis Group
Year
2003
Tongue
English
Weight
176 KB
Volume
35
Category
Article
ISSN
0003-6846

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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