Citation

Discussion Paper Details

Please find the details for DP3599 in an easy to copy and paste format below:

Full Details   |   Bibliographic Reference

Full Details

Title: Learning by Doing as a Propagation Mechanism

Author(s): Yongsung Chang, Joao F Gomes and Frank Schorfheide

Publication Date: October 2002

Keyword(s): business cycles, labour supply, learning by doing and propagation

Programme Area(s): International Macroeconomics and Labour Economics

Abstract: This Paper suggests that skill accumulation through past work experience, or ?learning-by-doing? (LBD), can provide an important propagation mechanism in a dynamic stochastic general equilibrium model, as the current labour supply affects future productivity. Our econometric analysis uses a Bayesian approach to combine micro-level panel data with aggregate time series. Formal model evaluation shows that the introduction of the LBD mechanism improves the model's ability to fit the dynamics of aggregate output and hours.

For full details and related downloads, please visit: https://cepr.org/active/publications/discussion_papers/dp.php?dpno=3599

Bibliographic Reference

Chang, Y, Gomes, J and Schorfheide, F. 2002. 'Learning by Doing as a Propagation Mechanism'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=3599