Replication data for: Can Intangible Capital Explain Cyclical Movements in the Labor Wedge?
- Gourio, François
- Rudanko, Leena
AbstractIntangible capital is an important factor of production in modern economies that is generally neglected in business cycle analyses. We demonstrate that intangible capital can have a substantial impact on business cycle dynamics, especially if the intangible is complementary with production capacity. We focus on customer capital: the capital embodied in the relationships a firm has with its customers. Introducing customer capital into a standard real business cycle model generates a volatile and countercyclical labor wedge, due to a mismeasured marginal product of labor. We also provide new evidence on cyclical variation in selling effort to discipline the exercise.
Is supplement to
DOI: 10.1257/aer.104.5.183 (Text)
Gourio, François, and Leena Rudanko. “Can Intangible Capital Explain Cyclical Movements in the Labor Wedge?” American Economic Review 104, no. 5 (May 2014): 183–88. https://doi.org/10.1257/aer.104.5.183.
- ID: 10.1257/aer.104.5.183 (DOI)
Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-12-06