投资品相对价格、技术冲击与劳动要素投入--基于RBC观点的一个实证研究

Relative Price of Investment Goods,Technology Shocks and Labor Employment——An Empirical Investigation from the RBC Perspective

本文由实证层面详细地考察了中性的与投资技术冲击对于我国劳动就业的宏观动态影响。基于投资品相对价格的长期趋势特征,我们发现:在长期限制识别条件下,正向的投资(中性)技术冲击对于劳动就业具有明显的促进作用(负向的抑制效应)。这意味着,仅考虑单一中性技术冲击的SVAR模型混淆了不同性质的技术冲击对于劳动就业的不同影响。

In this paper,we empirically investigate the dynamic effects of neutral & investment-specific technology shocks on labor employment in China.Under the assumption that investment-specific technology shock is the unique source of secular trend in relative price of investment goods,we find that labor employment increases(decreases) in response to a positive investment-specific(neutral) shock in an identified SVAR with long-run restriction.We argue that empirical results obtained in one-neutral-shock model do misrepresent the important short-run dynamics of employment to different technology shocks in the actual economy.