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Effects of Asymmetric Adjustment Among Labor Productivity, Labor Demand, and Exchange Rate Using Threshold Cointegration Test

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  • Shu-Chen Chang

Abstract

This paper investigates the asymmetric equilibrium relationship among labor productivity, labor demand, and the exchange rate in Taiwan's manufacturing industry using a threshold cointegration test that allows asymmetric adjustment. The findings show that there is a temporal delay in the reaction of labor demand to change in labor productivity, and vice versa. However, a temporal impact of exchange rate shock on labor demand and labor productivity is statistically unobvious. A trade-off between productivity growth and employment growth is not found.

Suggested Citation

  • Shu-Chen Chang, 2010. "Effects of Asymmetric Adjustment Among Labor Productivity, Labor Demand, and Exchange Rate Using Threshold Cointegration Test," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 46(6), pages 55-68, November.
    • Handle: RePEc:mes:emfitr:v:46:y:2010:i:6:p:55-68
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