Aggregate growth and the efficiency of labour reallocation
By: Simon Burgess, Dan Mawson.
Contributors: Mawson, Dan.; London School of Economics and Political Science. Centre for Economic Performance.
Series: Discussion paper ;; no. 580; Discussion paper (London School of Economics and Political Science. Centre for Economic Performance : Online) ;; no. 580.
Publisher: Centre for Economic Performance, London School of Economics and Political Science
Published: 2003
Place of publication: [London]
Language: eng
Format: Electronic resource
Subjects: Labor market -- Econometric models.; Industrial productivity -- Econometric models.; Economic development -- Econometric models.
Description: "We consider the potential importance of labour market efficiency for aggregate growth. The idea is that efficient labour markets move workers more quickly from low to high productivity sites, thereby raising aggregate productivity growth. We define a measure of labour market efficiency as a structural parameter from a matching function. Using labour market data on 15 OECD countries, we estimate this and show that it has a significant effect on growth. The results are robust to a number of different estimation techniques. The quantitative impact of market efficiency is not trivial"--London School of Economics web site.
Notes: Includes bibliographical references.
Title from summary page as viewed on 1/7/2005.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.