Output and Employment Fluctuations [Paperback]

This book consists of four parts: I. Labour demand andsupply, II. Productivity slowdown and innovative activity,III. Disequilibrium and business cycle analysis, and IV.Time series analysis of output and employment. It presents afine selection of articles in the growing field oftheempirical analysis of output and employment fluctuationswith applications in a micro-econometric or a time-seriesframework. The time-series literature recently hasemphasized the careful testing for stationarity andnonlinearity in the data, and the importance ofcointegration theory. An essential part of the papers makeuse of parametric and non-parametric methods developed inthis literature and mostly connect their results to thehysteresis discussion about the existence of fragileequilibria. A second set of macro approaches use thedisequilibrium framework that has found so much interest inEurope in recent years. The other papers use newly developedmethods for microdata,especially qualitative data orlimited dependent variables to study microeconomic models ofbehaviour that explain labour market and output decisions.Prefatory Note.- I: Labour Demand and Supply.- Demand Uncertainty and Labour Input in a Bivariate ARCH-M Model.- Income, Uncertainty and the Probability of Self-Employment.- The Demographics of Labour Turnover: A Comparison of Ordinal Probit and Censored Count Data Models.- II: Productivity Slowdown and Innovative Activity.- The Public Capital Hypothesis: The Case of Germany.- Semi-Nonparametric Estimation of Binary Choice Models Using Panel Data: An Application to the Innovative Activity of German Firms.- III: Disequilibrium and Business Cycle Analysis.- The Importance of Rationing in International Trade: An Econometric Analysis for Germany.- Overtime Work, Lack of Labour, and Structural Mismatch: Some Extensions of the European Unemployment Programme Framework.- International Business CyclS[