R Rogerson - Journal of monetary Economics, 1988 - Elsevier
Abstract This paper considers an economy where labor is indivisible and agents are
identical. Although the discontinuity in labor supply at the individual level disappears as a
result of aggregation, it is shown that indivisible labor has strong consequences for the ...
H Hopenhayn… - Journal of Political Economy, 1993 - JSTOR
Recent empirical work indicates that job creation and destruction rates are large, implying
significant amounts of job reallocation across firms. This paper builds a general equilibrium
model of this reallocation process, calibrates it using data on firm-level dynamics, and ...
J Benhabib, R Rogerson… - Journal of Political economy, 1991 - JSTOR
This paper explores some macroeconomic implications of including household production in
an otherwise standard real business cycle model. We calibrate the model on the basis of
macroeconomic evidence and long-run considerations, simulate it, and examine its ...
R Rogerson,
R Shimer… - Journal of Economic …, 2005 - ingentaconnect.com
Abstract: We survey the literature on search-theoretic models of the labor market. We show
how this approach addresses many issues, including the following: Why do workers
sometimes choose to remain unemployed? What determines the lengths of employment ...
R Fernandez… - The Quarterly Journal of …, 1996 - qje.oxfordjournals.org
Abstract This paper develops a multicommunity model and analyzes policies that affect
spending on public education and its distribution across communities. We find that policies
that on net increase the fraction of the (relatively) wealthiest residents in the poorest ...
G Bertola… - European Economic Review, 1997 - Elsevier
Despite stringent dismissal restrictions in most European countries, rates of job creation and
destruction are remarkably similar across European and North American labor markets. This
paper shows that relative-wage compression is conducive to higher employer-initiated job ...
D Restuccia… - Review of Economic Dynamics, 2008 - Elsevier
We formulate a version of the growth model in which production is carried out by
heterogeneous establishments and calibrate it to US data. In the context of this model we
argue that differences in the allocation of resources across establishments that differ in ...
ER McGrattan, R Rogerson… - International Economic Review, 1997 - JSTOR
We estimate a dynamic general equilibrium model of the US economy that includes an
explicit household production sector and stochastic fiscal variables. We use our estimates to
investigate two issues. First, we analyze how well the model accounts for aggregate ...
R Fernandez… - American Economic Review, 1998 - JSTOR
Many states are implementing school-finance reforms which will have complex effects on
income distribution, intergenerational income mobility, and welfare. This paper analyzes the
static and dynamic effects of such reforms by constructing a dynamic general equilibrium ...
D Gollin, S Parente… - The American Economic Review, 2002 - JSTOR
A longstanding question in economics is why some countries are so much richer than
others. Today, for example, income per capita in the world's richest countries is roughly 35
times greater than it is in the world's poorest countries. Recent work (eg, Rachel Ngai, ...
R Fernandez… - The Review of Economic …, 1995 - restud.oxfordjournals.org
Abstract Standard models of public education provision predict an implicit transfer of
resources from higher-income individuals toward lower-income individuals. Many studies
have documented that public higher education involves a transfer in the reverse direction. ...
J Greenwood, R Rogerson… - Frontiers of Business Cycle …, 1995 - books.google.com
A central objective of the real business cycle research program is to construct models
consistent with observed fluctuations in aggregate economic variables. These models
typically assume that all economic activity takes place in the market. The thesis of this ...
R Rogerson - 2007 - nber.org
This paper examines the evolution of hours worked in France, Germany, Italy and the US
from 1956-2003 and assesses the role of taxes and technology to account for the
differences. The empirical work establishes three results. First, hours worked in Europe ...
HL Cole… - International Economic Review, 1999 - Wiley Online Library
2. Abstract We examine whether the Mortensen-Pissarides matching model can account for
the business-cycle facts on employment, job creation, and job destruction. A novel feature of
our analysis is its emphasis on the reduced-form implications of the matching model. Our ...
R Rogerson… - 2007 - nber.org
We build a life cycle model of labor supply that incorporates changes along both the
intensive and extensive margin and use it to assess the consequences of changes in tax
and transfer policies on equilibrium hours of work. We find that changes in taxes have ...
R Fernandez… - The Quarterly Journal of …, 2001 - qje.oxfordjournals.org
Abstract Many social commentators have raised concerns over the possibility that increased
sorting in society may lead to greater inequality. To investigate this, we construct a dynamic
model of intergenerational education acquisition, fertility, and marital sorting and ...
SL Parente, R Rogerson… - Journal of Political economy, 2000 - JSTOR
We introduce home production into the neoclassical growth model and examine its
consequences for development economics. In particular, we study the extent to which one
can account for international income differences with differences in policies that distort ...
R Rogerson - Economic Theory, 2007 - Springer
Abstract This paper argues that it is essential to explicitly consider how the government
spends tax revenues when assessing the effects of tax rates on aggregate hours of market
work. Different forms of government spending imply different elasticities of hours of work ...
P Rupert, R Rogerson… - Economic Theory, 1995 - Springer
Summary Dynamic general equilibrium models that include explicit household production
sectors provide a useful framework within which to analyze a variety of macroeconomic
issues. However, some implications of these models depend critically on parameters, ...
R Rogerson - Review of Economic Dynamics, 2006 - Elsevier
This paper documents the large differences in hours of work across OECD countries, and
presents evidence on how they have evolved over time. It argues that changes in technology
and government are promising candidates to explain the broad changes over the period ...
M Pries… - Journal of Political Economy, 2005 - merlin.fae.ua.es
We develop a matching model to account for the fact that worker turnover in Europe is much
less than in the United States, whereas job turnover is roughly the same. The model
assumes that the quality of worker-firm matches is both an inspection good and an ...
R Rogerson - The Journal of Economic Perspectives, 1997 - JSTOR
W^ thy do measured unemployment rates vary so much across countries at a point in time
and over time within a given country? This question has long attracted the interest of
economists. Progress toward answering questions like this are achieved through the ...
R Fernandez… - Journal of Public Economics, 1999 - Elsevier
This paper examines the effect of different education financing systems on the level and
distribution of resources devoted to public education. We focus on California, which in the
1970's was transformed from a foundation system of mixed local and state financing to ...
ER McGrattan, R Rogerson - … Reserve Bank of …, 1998 - greatdepressionbook.com
Abstract This article describes changes in the number of average weekly hours of market
work per person in the United States since World War II. Overall, this number has been
roughly constant; for various groups, however, it has shifted dramatically—from males to ...
R Fernandez… - Journal of Political Economy, 2003 - JSTOR
We analyze five education finance systems: local, state, foundation, power equalizing with
recapture (PER), and power equalizing without recapture (PEN). In a calibrated model, we
find that finance systems have large effects on educational resources and equity. The ...
ER McGrattan… - Federal Reserve Bank of Minneapolis …, 2004 - Citeseer
Abstract This article describes changes in the number of average weekly hours of market
work per person in the United States since World War II. Overall, this number has been
roughly constant; for various groups, however, it has shifted dramatically—from males to ...
D Gollin, SL Parente… - Journal of Monetary Economics, 2007 - Elsevier
In most poor countries, large fractions of land, labor, and other productive resources are
devoted to producing food for subsistence needs. We show that a model incorporating the
“food problem” can provide new and useful insights into the evolution of international ...
JO Cho… - Journal of Monetary Economics, 1988 - Elsevier
Abstract This paper considers an economy which is populated by a continuum of identical
families consisting of two members. The two members have different productivities and the
family faces a fixed utility cost if both members supply labor simultaneously. Although both ...
P Rupert, R Rogerson… - Journal of Monetary Economics, 2000 - Elsevier
We argue that estimates of intertemporal substitution elasticities obtained from standard life
cycle models are subject to a downward bias because they neglect changes in work done at
home over the life cycle. We extend the standard life cycle model to include home ...
L Ohanian,
A Raffo… - Journal of Monetary Economics, 2008 - Elsevier
We document large differences in trend changes in hours worked across OECD countries
between 1956 and 2004. We assess the extent to which these changes are consistent with
the intratemporal first order condition from the neoclassical growth model, augmented with ...
R Fernandez… - International Economic Review, 1997 - JSTOR
We examine the effect of community zoning regulations on allocations and welfare in a two-
community model. Individuals choose in which community to live and each community levies
a tax, chosen via majority vote, on local property to finance local public education. We ...
R Rogerson… - Journal of Monetary economics, 1988 - Elsevier
Abstract We study economies where 'employment lotteries' determine random layoffs, and
incomes for employed and unemployed agents allocate risk efficiently. We ask, for which
specifications are unemployed agents worse off, a situation we call involuntary ...
D Gollin, SL Parente… - Review of Economic Dynamics, 2004 - Elsevier
Agriculture's share of economic activity is known to vary inversely with a country's level of
development. This paper examines whether extensions of the neoclassical growth model
can account for some important sectoral patterns observed in a current cross section of ...
We survey search-theoretic models of the labor market and discuss their usefulness for
analyzing labor market dynamics, job turnover, and wages. We first examine single-agent
models, showing how they can incorporate many interesting features and generate rich ...
P Loungani… - Journal of Monetary Economics, 1989 - Elsevier
Abstract This paper documents the correlation between permanent sectoral reallocation and
the business cycle using data from the Michigan Panel Study of Income Dynamics. We find
that the outflow of workers from goods to services accelerates during recessions. The flow ...
P Gomme, R Rogerson, P Rupert… - 2005 - nber.org
The representative household model is the workhorse of modern business-cycle theory. One
can understand this from several perspectives. First, from an empirical perspective, the
business cycle is defined in terms of time series variation in the per-capita values for ...
R Rogerson - The Journal of Political Economy, 1987 - JSTOR
This paper constructs a two-period, two-sector model in which there are permanent sectoral
shocks. It analyzes the equilibrium path of individual labor supply, sectoral employment, and
duration of unemployment in response to these shocks. Equilibrium allocations are shown ...
R Fernandez… - Journal of Education Finance, 2001 - JSTOR
Our main finding is that the two most important determinants of spending per student are
personal income and number of students. Specifically, holding all else constant, a given
change in personal income in a state will lead to an increase in spending on education of ...
EC Prescott, R Rogerson… - Review of Economic Dynamics, 2009 - Elsevier
This paper studies lifetime aggregate labor supply with endogenous workweek length. Such
a theory is needed to evaluate various government policies. A key feature of our model is a
nonlinear mapping from hours worked to labor services. This gives rise to an endogenous ...
L Ohanian,
A Raffo… - 2006 - nber.org
We document large differences in trend changes in hours worked across OECD countries
over the period 1956-2004. We then assess the extent to which these changes are
consistent with the intratemporal first order condition from the neoclassical growth model. ...
[CITATION] Migration, places and quality of life: voting with their feet
A Findlay… - Population Matters, 1993 - Paul Chapman London
ER McGrattan, RD Rogerson, R Wright… - 1993 - research.mpls.frb.fed.us
Federal Reserve Bank of Minneapolis Research Department Staff Report 166 December 1993
Household Production and Taxation in the Stochastic Growth Model Ellen McGrattan* Federal
Reserve Bank of Minneapolis Richard Rogerson* University of Minnesota and Federal ...
R Fernandez… - 1997 - nber.org
We examine a panel data set for the US states over the period 1950-1990 and use it to
assess the effects of growth in personal income and number of students on expenditure on
public primary and secondary education. Our analysis suggests that the share of personal ...
D Gollin, SL Parente… - Manuscript, University of …, 2002 - netfiles.uiuc.edu
ABSTRACT This paper examines the effect of agricultural policy on a country's development
and growth. We find that low agricultural productivity can delay the start of industrialization in
a country for a long period of time, causing a country's per capita income to fall far behind ...
K Koenders… - REVIEW-FEDERAL RESERVE …, 2005 - research.stlouisfed.org
Kathryn Koenders and Richard Rogerson labor. Specifically, we assume that inefficiencies
regarding the use of labor emerge over time within an organization. Eliminating these
inefficiencies (a process we refer to as reorganizing) requires scarce organizational ...
R Rogerson… - Handbook of Labor Economics, 2011 - Elsevier
Abstract This chapter assesses how models with search frictions have shaped our
understanding of aggregate labor market outcomes in two contexts: business cycle
fluctuations and long-run (trend) changes. We first consolidate data on aggregate labor ...
R Rogerson… - Journal of Monetary Economics, 2002 - Elsevier
Recent work has documented the large persistent earnings losses associated with the
displacement of high tenure workers. In this paper, we assess the welfare costs of this risk,
assuming that workers do not have access to insurance markets. We find that the cost is ...
HL Cole, R Rogerson… - 1996 - minneapolisfed.org
ABSTRACT We examine whether the Mortensen-Pissarides matching model can account for
the business cycle facts on employment, job creation, and job destruction. A novel feature of
our analysis is its emphasis on the reduced-form implications of the matching model. Our ...
R Fernandez… - 1999 - nber.org
Over the last few decades many US states have made large changes to their systems of
financing K-12 education with the explicit objective of providing more equitable educational
opportunities. There has been relatively little accompanying analysis, however, examining ...
R Rogerson - Review of Economic Dynamics, 2005 - Elsevier
This paper extends the Lucas–Prescott island economy to allow for finite lived agents and
sector specific human capital. Unlike the Lucas–Prescott model in which workers who leave
declining sectors find employment in expanding sectors, this models predicts that workers ...
R Fernandez… - NBER Working Paper, 1994 - mpls.frb.org
Abstract Many states are considering school finance reforms aimed at lessening inequality
in the provision of public education across communities. These reforms will tend to have
aggregate effects on income distribution, intergenerational income mobility, and welfare. ...
D Gollin, SL Parente… - Forthcoming in The Review …, 2000 - aida.econ.yale.edu
ABSTRACT Agriculture's share of economic activity is known to vary inversely with a
country's level of development. This paper examines whether extensions of the neoclassical
growth model can account for some important sectoral patterns observed in a current ...
[CITATION] Topics in the theory of labour markets
RD Rogerson - 1985
P Krusell,
T Mukoyama, R Rogerson… - Journal of Monetary …, 2008 - Elsevier
We study the impact of tax and transfer programs on steady-state allocations in a model with
search frictions, an operative labor supply margin, and incomplete markets. In a benchmark
model that has indivisible labor and incomplete markets but no trading frictions we show ...
J Benhabib, R Wright… - 1990 - nber.org
ABSTRACT This paper argues that the home, or nonmarket, sector is empirically large,
whether measured in terms of the time devoted to household production activities or in terms
of the value of home produced output. We also argue that there may be a good deal of ...
MJ Pries… - 2004 - Citeseer
Abstract This paper explores the link between lengthy search durations and labor market
participation. Evidence on worker flows suggests that many workers, particularly women,
frequently flow between participation and non-participation. The participation decisions of ...
R Rogerson… - Journal of Monetary Economics, 1991 - Elsevier
Abstract This paper estimates the intertemporal elasticity of substitution for married males
taking into account that many individuals are at a corner solution for weeks worked by virtue
of working year round. The fact that these individuals do not choose to engage in much ...
L Fang… - International Economic Review, 2009 - Wiley Online Library
The large differences in hours of work across rich countries reflect large differences in both employment
to population ratios and hours per worker. We imbed the canonical model of labor supply into
a matching model to produce a model with operative intensive and extensive margins, ...
B Herrendorf, R Rogerson… - 2009 - nber.org
We ask what specification of preferences can account for the changes in the expenditure
shares of broad sectors that are associated with the process of structural transformation in
the US since 1947. Following the tradition of the expenditure systems literature, we first ...
R Fernandez… - 1992 - nber.org
This paper analyzes within the context of a multicommunity model the effects of several
policies that affect the financing of public education. The key features of the model are:(I)
individuals differ with respect to income,(ii) individuals choose in which community to ...
R Rogerson - Journal of the European Economic Association, 2004 - Wiley Online Library
Abstract This paper challenges the consensus view on the deterioration of European labor
market outcomes relative to the United States. When looking at employment to population
ratios rather than unemployment rates, I find that the deterioration begins in the mid-1950s ...
E Nosal, R Rogerson… - Canadian Journal of Economics, 1992 - JSTOR
A classic result in the theory of labour contracts with asymmetric information is that
underemployment results if and only if leisure is an inferior good. A classic result in models
where unemployment occurs because of indivisibilities, including implicit contract models ...
L Fang… - 2007 - nber.org
Recent empirical work finds a negative correlation between product market regulation and
aggregate employment. We examine the effect of product market regulations on hours
worked in a benchmark aggregate model of time allocation. We find that product market ...
P Krusell,
T Mukoyama, R Rogerson… - Quantitative …, 2010 - Wiley Online Library
Commonly used frictional models of the labor market imply that changes in frictions have
large effects on steady state employment and unemployment. We use a model that features
both frictions and an operative labor supply margin to examine the robustness of this ...
M Pries… - European Economic Review, 2009 - Elsevier
Cross-country differences in labor market participation are often larger than differences in
unemployment rates. The same holds true across demographic groups within a given
economy. We argue that the interaction between labor force participation decisions and ...
SL Parente, R Rogerson… - Economic Review-Federal …, 1999 - clevelandfed.org
Differences in standards of living across countries are large. For example, Summers and
Heston (1991) indicate that income per worker is around 30 times higher in the richest
countries than it is in the poorest countries. Why are differences in living standards so big? ...
D Gollin… - 2010 - nber.org
A large fraction of Uganda's population continues to earn a living from quasi-subsistence
agriculture. This paper uses a static general equilibrium model to explore the relationships
between high transportation costs, low productivity, and the size of the quasi-subsistence ...
P Krusell,
T Mukoyama, R Rogerson… - Journal of Economic …, 2011 - Elsevier
We develop a simple model featuring search frictions and a nondegenerate labor supply
decision along the extensive margin. The model is a standard version of the neoclassical
growth model with indivisible labor and idiosyncratic productivity shocks and frictions ...
R Fernandez… - 2003 - nber.org
Two broad movements can be identified in the public policy debates over financing and
provision of K-12 education. The first movement began in the early 1970s with the landmark
ruling by the California Supreme Court that found California's system of financing public K- ...
R Rogerson - Review of International Economics, 2009 - Wiley Online Library
This paper uses a simple model of labor supply extended to allow for home production to
understand the extent to which differences in taxes can account for differences in time
allocations between the US and Europe. Once home production is included, the elasticity ...
R Fernandez… - 1992 - nber.org
The non-existence of credit markets implies that initial income is a determinant of who
actually obtains an education. We consider the outcome of a process in which income is
taxed to provide subsidies for education. and taxes are chosen by majority voting. We ...
[CITATION] J. Wallenius (2009)." Lifetime aggregate labor supply with endogenous workweek length."
E Prescott… - Review of Economic Dynamics
R Rogerson… - Journal of Economic Dynamics and Control, 1993 - Elsevier
Many empirical tests of the intertemporal, substitution theory of labor market fluctuations
have assumed that shocks to the labor demand curve are the sole source of variance in
hours and wages. We show that conclusions based on these tests are very sensitive to ...
[CITATION] Income Distribution
R Fernandez… - Communities, and the Quality, 1996
[CITATION] Estimating the stochastic growth model with household production
ER McGratten, R Rogerson… - manuscript, Federal Reserve Bank of …, 1994
[CITATION] Reconciling micro and macro labor supply elasticities
M Keane… - Number of, 2010
[CITATION] Income distribution and public education: A dynamic quantitative analysis of school finance reform
R Fernàndez… - American Economic Review, 1998
[CITATION] Public Education and Income Distribution: A Quantitative Evaluation of School Finance Reform
R Fernandez… - NBER Working Paper, 1994
R Rogerson, LP Visschers… - International Journal of …, 2009 - works.bepress.com
Shimer's calibrated version of the Mortensen–Pissarides model generates unemployment fluctuates
much smaller than the data. Hagedorn and Manovskii present an alternative calibration that yields
fluctuations consistent with the data, but this has been challenged by Costain and Reiter, ...
R Rogerson - ECONOMIC REVIEW-FEDERAL RESERVE BANK …, 2001 - clevelandfed.org
One of the striking macroeconomic developments of the last 30 years has been the marked
rise in European unemployment in comparison to that in the United States. As of 2000, US
unemployment was basically unchanged from 1970 at around 4 percent, whereas over ...
R Fernandez… - 1993 - nber.org
This paper examines the effect of community zoning regulations on allocations and welfare
in a two-community model. Each community uses a local property tax to finance public
education. Tax rates are determined by majority vote within each community, and ...
M Pries… - Manuscript, University of Maryland, 2001 - economics.ucr.edu
Abstract Unemployment durations are much longer in Europe than in the United States, a
fact often attributed to labor market policies that discourage the creation of vacancies by
firms. We propose an alternative explanation. We develop a model of the labor market in ...
EC Prescott, R Rogerson… - … manuscript, Arizona State …, 2006 - 128.36.236.35
Abstract The difference in labor supply across countries is often decomposed into hours
worked per year per employed person and the fraction of persons employed. The difference
between hours worked per employed person in Europe and the United States is due in ...
J Alonso-Ortiz… - Journal of Monetary Economics, 2010 - Elsevier
The consequences of increases in the scale of tax and transfer programs are assessed in
the context of a model with idiosyncratic productivity shocks and incomplete markets. The
effects are contrasted with those obtained in a stand-in household model featuring no ...
JO Cho… - 1990 - ideas.repec.org
This paper studies fluctuations in a real business cycle model when there is a risk neutral
agent present to offer insurance to workers. This economy is compared with one in which
there is no risk neutral agent but labor is indivisible. In static models it is difficult to ...
R Rogerson… - 2010 - casee.asu.edu
Abstract We analyze the forces that can generate retirement in different versions of standard
life cycle models of labor supply. While nonconvexities in production can generate
retirement, we show that the size of nonconvexities needed increases sharply as the ...
[CITATION] The evolution of OECD employment, 1960–2000: The role of structural transformation
R Rogerson - Unpublished Paper, 2002
V Grilli… - Yale Univerity and Stanford …, 1988 - rcer.econ.rochester.edu
Abstract In this paper we show how the introduction of technological restrictions in a general
equilibrium model of the labor market can produce dynamic patterns of employment and
unemployment which replicate essential features of the empirical evidence. We ...
[CITATION] Job Turnover and Policy Evaluation in a Model of Industry Equilibrium
H Hopenhayn… - Graduate School of Business, Stanford University, abril, 1991
P Loungani, R Rogerson… - Working Papers, 1989 - econpapers.repec.org
... EconPapers has moved to http://EconPapers.repec.org! Please update your
bookmarks. UNEMPLOYMENT AND SECTORAL SHIFTS: EVIDENCE FROM THE
PSID. Prakash Loungani (), Richard Rogerson () and YH. Sonn. ...
[CITATION] Vouchers: a dynamic analysis
R Fernández… - Unpublished paper, 2001
P Krusell,
T Mukoyama, R Rogerson… - Princeton University, 2009 - 128.36.236.74
Abstract We develop a model featuring search frictions and a nondegenerate labor supply
decision along the extensive margin, and argue that it does a reasonable job of matching
labor market flows between employment, unemployment and out of the labor force. ...
[CITATION] Comment of pWork and leisure in the US and Europe: Why so different? q
R Rogerson - NBER Macroeconomics Annual, 2005
[CITATION] Taxes, Transfers and Employment in an Incomplete Markets Model
R Rogerson - Manuscript, Arizona State University, 2009
[CITATION] Policy Distortions and Aggregate Productivity with Heterogeneous Establishments
H Hopenhayn… - Journal of Political Economy, 1993
ER McGrattan… - 2007 - emeraldinsight.com
... Changes in the Distribution of Family Hours Worked Since 1950 ⋆ Ellen R. McGrattana,b and
Richard Rogersonc aFederal Reserve Bank of Minneapolis, USA bUniversity of Minnesota, USA
cArizona State University, USA ... 120 Ellen R. McGrattan and Richard Rogerson Fig. 2A. ...
L Ohanian,
A Raffo… - ECONOMIC REVIEW-FEDERAL …, 2007 - 12.35.11.68
Policymakers devote a great deal of attention to short-run fluctuations in the labor market.
Central banks monitor indicators of labor market tightness in the conduct of monetary policy
due to the potential implications for inflation. Fiscal authorities are concerned with the ...
[CITATION] hOn the Political Economy of Education Subsidies. iReview of Economic Studies
R Fernandez… - Vol, 1995
[CITATION] Indivisible labor and the business cycle: the case of heterogenous households
R Rogerson - Manuscript, University of Rochester and Southern …, 1987
[CITATION] VHiring Policies
M Pries… - Labor Market Institutions, and Labor Market Flows, 2005
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