The Shock Effect of Labor Transfer Fluctuation for Macro-economy in China
Author(s): MA Yiqun, QU Zejing, School of Economics, Nanjing University, Business School, Tongling University
Pages: 57-68
Year: 2014 Issue: 6
Journal: Population & Economics
Keyword: DSGE Model; labor transfer; macro-economy;
Abstract: The paper set up a dynamic stochastic general equilibrium model including labor transfer which used data simulation method to study the inherent logic and dynamic impact of labor transfer influence on macro-economy in China. Empirical findings show that: the DSGE model can explain the real economy well,the shock of labor transfer for macro-economy is longer than other variables.Labor transfer has positive impact on output,consumption,investment and capital stock in the long term,and has negative impact on employment,price,wage and output cost in the long term. The impact of technical progress,government expenditures and labor supply is the same with existent research,but they are mid-term and short-term impact. Labor transfer only play a significant role in contribution for output,has important impact on capital stock and price. The impact of labor transfer for consumption and employment is weaker than technical progress.
Pages: 57-68
Year: 2014 Issue: 6
Journal: Population & Economics
Keyword: DSGE Model; labor transfer; macro-economy;
Abstract: The paper set up a dynamic stochastic general equilibrium model including labor transfer which used data simulation method to study the inherent logic and dynamic impact of labor transfer influence on macro-economy in China. Empirical findings show that: the DSGE model can explain the real economy well,the shock of labor transfer for macro-economy is longer than other variables.Labor transfer has positive impact on output,consumption,investment and capital stock in the long term,and has negative impact on employment,price,wage and output cost in the long term. The impact of technical progress,government expenditures and labor supply is the same with existent research,but they are mid-term and short-term impact. Labor transfer only play a significant role in contribution for output,has important impact on capital stock and price. The impact of labor transfer for consumption and employment is weaker than technical progress.
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