Productivity Shock and Labour Input: Evidence from Correlated Unobserved Component Model

IF 0.6 Q4 ECONOMICS

South Asian Journal of Macroeconomics and Public Finance Pub Date : 2023-12-11 DOI:10.1177/22779787231209612

Jitender Singh, Arup Mitra

引用次数: 0

Abstract

This note assesses the relationship between labour productivity and employment in the framework of the unobserved component model as well as the vector autoregressive model. In the case of the organized/formal manufacturing sector in India, the transitory increase in productivity is seen to reduce the man-days in the short run, though it is not statistically significant. Permanent shock to productivity decreases labour inputs permanently, and vice versa and their association is also statistically significant. Incentivizing the firms to expand their activities, diversify production and process secondary products may help restore employment in the face of a permanent productivity shock. JEL Classification: C11, C32, E32

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生产力冲击与劳动力投入：相关非观测成分模型的证据

本说明在非观测成分模型和向量自回归模型的框架内评估了劳动生产率与就业之间的关系。就印度有组织/正规制造业而言，生产率的短暂提高会在短期内减少工日，尽管在统计上并不显著。生产率的永久性冲击会永久性地减少劳动力投入，反之亦然，两者之间的关联在统计上也是显著的。激励企业扩大活动、实现生产多样化和加工次级产品，可能有助于在面临生产率长期冲击时恢复就业。JEL 分类：C11、C32、E32

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

South Asian Journal of Macroeconomics and Public Finance ECONOMICS-

CiteScore

2.10

自引率

11.10%

发文量

期刊介绍： The purpose of the Journal is to publish (in English language) peer-reviewed articles, reviews and scholarly comments on issues relating to contemporary global macroeconomics and public finance by which is understood: The Journal is for all professionals concerned with contemporary Macroeconomics and Public Finance and is a forum for all views on related subjects. The Editorial Board welcomes articles of current interest on research and application on the areas mentioned above. The Journal will be international in the sense that it seeks research papers from authors with an international reputation and articles that are of interest to an international audience. In pursuit of the above, the journal shall: a. draw on and include high quality work from the international community of scholars including those in the major countries of Asia, Europe, Asia Pacific, the United States, other parts of the Americas and elsewhere with due representation for considerations of the readership. The Journal shall include work representing the major areas of interest in contemporary research on Macroeconomics and Public Finance and on a wide range of issues covering macro- economics, tax and fiscal issues, banking and finance, international trade, labour economics, computational and mathematical methods, etc. The Journal would particularly engage papers on pure and applied economic theory and econometric methods. b. avoid bias in favour of the interests of particular schools or directions of research or particular political or narrow disciplinary objectives to the exclusion of others. c. ensure that articles are written in a terminology and style which makes them intelligible, not merely within the context of a particular discipline or abstract mode, but across the domain of relevant disciplines.