Abstract Canova et al. [Canova, F., J. D. López-Salido, and C. Michelacci. 2010. “The Effects of Technology Shocks on Hours and Output: A Robustness Analysis.” Journal of Applied Econometrics 25: 755–773; Canova, F., J. D. López-Salido, and C. Michelacci. 2012. “The Ins and Outs of Unemployment: An Analysis Conditional on Technology Shocks.” The Economic Journal 123: 515–539] estimate the dynamic response of labor market variables to technological shocks. They show that investment-specific shocks imply predominantly an adjustment along the intensive margin (i.e., hours per worker), whereas for neutral shocks the largest share of the adjustment takes place along the extensive margin (i.e., employment). In this paper we develop a New Keynesian model featuring capital accumulation, two margins of labor adjustment and a hiring cost. The model is used to analyze a novel economic mechanism to explain that evidence.

中文翻译：

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技术与劳动调整的两个边界：凯恩斯主义的新视角

摘要Canova等。[Canova，F.，JDLópez-Salido和C. Michelacci。2010年。“技术冲击对工时和产出的影响：稳健性分析。” Journal of Applied Econometrics 25：755–773; 卡诺瓦（Canova，F.），罗伯兹（JDLópez-Salido）和C. 2012年。“失业的来龙去脉：以技术冲击为条件的分析。” 《经济杂志》 123：515–539]估计了劳动力市场变量对技术冲击的动态响应。他们表明，针对投资的冲击主要意味着沿着集约化利润率（即每名工人的工作时间）进行调整，而对于中性冲击，最大的调整是沿着广泛的利润率（即就业）进行调整。在本文中，我们开发了一个新的凯恩斯主义模型，该模型具有资本积累，两个劳动力调整边际和一个雇用成本的特征。