Series: IMF Working Papers
Author(s): Nooman Rebei
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 August 2012
Keywords: Firm entry and exit, Habit in consumption, Labor market frictions, Permanent technology shocks, Leontief production, Bayesian estimation., wages, wage, autocorrelation, standard deviation
The paper asks how state of the art DSGE models that account for the conditional response of hours following a positive neutral technology shock compare in a marginal likelihood race. To that end we construct and e...