Search Results - subject:"job rationing"

Modeling the displacement of native workers by immigrants

Michaillat, Pascal - 2023

Persistent link: https://www.econbiz.de/10014424496

Fiscal Multipliers over the Business Cycle

Michaillat, Pascal - Centre for Economic Performance, LSE - 2012

This paper illustrates why fiscal policy becomes more effective as unemployment rises in recessions. The theory is based on the equilibrium unemployment model of Michaillat (forthcoming), in which jobs are rationed in recessions. Fiscal policy takes the form of government spending on...

Persistent link: https://www.econbiz.de/10009421732

Jobs in a recession

Michaillat, Pascal - Centre for Economic Performance, LSE - 2012

This article is based on a paper that models unemployment as the result of matching frictions and job rationing. Job … diminishing marginal returns to labor. During recessions, job rationing is acute, driving the rise in unemployment, whereas … rationing is a shortage of jobs arising naturally in an economic equilibrium from the combination of some wage rigidity and …

Persistent link: https://www.econbiz.de/10010549052

A theory of countercyclical government multiplier

Michaillat, Pascal - London School of Economics (LSE) - 2012

I develop a New Keynesian model in which a type of government multiplier doubles when unemployment rises from 5 percent to 8 percent. This multiplier indicates the additional number of workers employed when one worker is hired in the public sector. Graphically, in equilibrium, an upward-sloping...

Persistent link: https://www.econbiz.de/10010745284

Optimal Unemployment Insurance Over the Business Cycle

Landais, Camille; Michaillat, Pascal; Saez, Emmanuel - Centre for Economic Performance, LSE - 2011

model with job rationing, the formula implies that optimal UI is countercyclical. This result arises because in recession …

Persistent link: https://www.econbiz.de/10009322527

Do Matching Frictions Explain Unemployment? Not in Bad Times

Michaillat, Pascal - Centre for Economic Performance, LSE - 2010

This paper models unemployment as the result of matching frictions and job rationing. Job rationing is a shortage of … returns to labor. During recessions, job rationing is acute, driving the rise in unemployment, whereas matching frictions …

Persistent link: https://www.econbiz.de/10009643559

Labour market segmentation : standard and non-standard employment in Germany

Garz, Marcel - In: German economic review 14 (2013) 3, pp. 349-371

Persistent link: https://www.econbiz.de/10010194981

Fiscal Multipliers Over the Business Cycle

Michaillat, Pascal - C.E.P.R. Discussion Papers - 2011

This paper develops a theory characterizing the effects of fiscal policy on unemployment over the business cycle. The theory is based on a model of equilibrium unemployment in which jobs are rationed in recessions. Fiscal policy in the form of government spending on public-sector jobs reduces...

Persistent link: https://www.econbiz.de/10009324257

Specific skills,imperfect information and job rationing

Bester, Helmut - University of Bonn, Germany - 1986

Persistent link: https://www.econbiz.de/10005032104