TY  - BOOK
AU  - Boz,Emine
AU  - Bora Durdu,C.
AU  - Li,Nan
ED  - International Monetary Fund.
TI  - Emerging market business cycles: labor market frictions 
T2  - IMF working paper
SN  - 9781475512496
AV  - HB3711 
U1  - 338.5/4209172/4 23
PY  - 2012///
CY  - [Washington, D.C.]
PB  - International Monetary Fund
KW  - Business cycles
KW  - Developing countries
KW  - Econometric models
KW  - Labor market
KW  - BUSINESS & ECONOMICS
KW  - Economics
KW  - Microeconomics
KW  - bisacsh
KW  - fast
N1  - Title from PDF title page (IMF Web site, viewed Oct. 4, 2012); "Research Department."; "October 2012."; Includes bibliographical references; Cover; Contents; 1 Introduction; 2 Empirical Evidence on Emerging Economy Labor Markets; 3 A Small Open Economy Model with Search-Matching Frictions; 4 Quantitative Analysis; 4.1 Calibration; 4.2 Solution: Nonlinear Methods; 4.3 The Model Dynamics; 4.4 Main Findings; Canonical SOE-RBC; Search-Matching Model; 4.5 Sensitivity Analysis; 5 Matching efficiency shocks; 6 Conclusion; References; References; Appendixes; A: Data Appendix; B: TFP computation; C: Decentralized Economy; D: Canonical SOE-RBC; Tables; Table 1: Real earnings; Table 2: Unemployment Rate and Employment; Table 3: Hours worked: Manufacturing and AggregateTable 4: Calibrated Parameters; Table 5: Business Cycle Moments; Table 6: Sensitivity Analysis; Table 7: Matching Efficiency Shocks; Figures; Figure 2: Limiting Distributions of Endogenous State Variables; Figure 3: Impulse Response Functions: Main Macroeconomic Variables; Figure 4: Impulse Response Functions: Labor Market Variables; Figure 1: Sectoral Decomposition of Employment
N2  - Emerging economies are characterized by higher consumption and real wage variability relative to output and a strongly countercyclical current account. A real business cycle model of a small open economy that embeds a Mortensen-Pissarides type of search-matching frictions and countercyclical interest rate shocks can jointly account for these regularities. In the face of countercyclical interest rate shocks, search-matching frictions increase future employment uncertainty, improving workers' incentive to save and generating a greater response of consumption and the current account. Higher consumption response in turn feeds into larger fluctuations in the workers bargaining power while the interest rates shocks lead to variations in the firms' willingness to hire; both of which contribute to a highly variable real wage
UR  - https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=516432
ER  -