Detrending and business cycle facts... It is shown: (i) that both quantitatively and qualitatively 'stylized facts' of US business cycles vary widely across detrending methods; (ii) that alternative detrending filters extract different types of information from the original series; and (iii) the qualitative response of consumption, investment, hours and productivity to a typical shock in GNP have, depending on the method used, two types of patterns -- one consistent with a Real Business Cycle model and one consistent with a Neo-Keynesian labour-hoarding story....
Cross-sectional efficiency and labour hoarding in a matching model of unemployment... The stylized model we propose highlights interactions between job-security provisions and sectoral shocks in determining the natural rate of unemployment, the allocation of labour, and the extent of labour hoarding, and rationalizes cross-sectional asymmetries of gross employment flows at the firm level....
Inherited labour hoarding, insiders and employment growth. panel data results: poland, 1996-2002... Kőllő, 1998) found that labour hoarding lowered employment elasticities in the presence of positive demand shocks....
