Abstract
We have shown that an adverse shock to the production function can lead to a decline in labour input that accompanies the fall in output. Thus, measures of labour input, such as employment and worker-hours, are procyclical.
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© 1994 Robert J. Barro and Vittorio Grilli
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Barro, R., Grilli, V. (1994). Unemployment. In: European Macroeconomics. Palgrave, London. https://doi.org/10.1007/978-1-349-27904-3_13
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DOI: https://doi.org/10.1007/978-1-349-27904-3_13
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-57764-6
Online ISBN: 978-1-349-27904-3
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