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The Macroeconomics of the Labor Market: Three Fundamental Views

Karanassou, Marika; Sala, Hector; Snower, Dennis - Institut für Weltwirtschaft (IfW) - 2007

We distinguish and assess three fundamental views of the labor market regarding the movements in unemployment: (i) the … that all the short-run ‡uctuations automatically turn into long-run changes in the unemployment rate. We assert the …

Persistent link: https://www.econbiz.de/10005755272

Incentives and Complementarities of Flexicurity

Brown, Alessio J. G.; Snower, Dennis - Institut für Weltwirtschaft (IfW) - 2009

renowned Danish miracle by evaluating their unemployment and inequality effects and their complementarities. We develop a … full Danish flexicurity set of policies (low employment protection, high unemployment benefits and workfare). Our results … show that implementing the Danish flexicurity concept in Germany would reduce unemployment and earnings inequality …

Persistent link: https://www.econbiz.de/10005079106

East German Unemployment: The Myth of the Irrelevant Labor Market

Merkl, Christian; Snower, Dennis - Institut für Weltwirtschaft (IfW) - 2008

This paper indicates that East Germany’s unemployment originates primarily in the labor market, caused by the fast wage …

Persistent link: https://www.econbiz.de/10005076097

An Incentive Theory of Matching

Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis - Institut für Weltwirtschaft (IfW) - 2009

This paper presents a theory explaining the labor market matching process through microeconomic incentives. There are heterogeneous variations in the characteristics of workers and jobs, and firms face adjustment costs in responding to these variations. Matches and separations are described...

Persistent link: https://www.econbiz.de/10004992848

Quadratic Labor Adjustment Costs and the New-Keynesian Model

Lechthaler, Wolfgang; Snower, Dennis - Institut für Weltwirtschaft (IfW) - 2008

We build quadratic labor adjustment costs into an otherwise standard New-Keynesian model of the business cycle and show that this is sufficient to increase both, output and inflation persistence

Persistent link: https://www.econbiz.de/10005700592

Phillips Curves and Unemployment Dynamics: A Critique and a Holistic Perspective

Karanassou, Marika; Sala, Hector; Snower, Dennis - Institut für Weltwirtschaft (IfW) - 2008

The conventional wisdom that inflation and unemployment are unrelated in the long-run implies the compartmentalisation … of macroeconomics. While one branch of the literature models inflation dynamics and estimates the unemployment rate … compatible with inflation stability, another one determines the real economic factors that drive the natural rate of unemployment …

Persistent link: https://www.econbiz.de/10005566179

Monetary Persistence and the Labor Market: A New Perspective

Lechthaler, Wolfgang; Merkl, Christian; Snower, Dennis - Institut für Weltwirtschaft (IfW) - 2008

It is common knowledge that the standard New Keynesian model is not able to generate a persistent response in output to temporary monetary shocks. We show that this shortcoming can be remedied in a simple and intuitively appealing way through the introduction of labor turnover costs (such as...

Persistent link: https://www.econbiz.de/10005818879

The Minimum Wage from a Two-Sided Perspective

Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis - Institut für Weltwirtschaft (IfW) - 2014

This paper sheds new light on the effects of the minimum wage on employment from a two-sided theoretical perspective, in which firms' job offer and workers' job acceptance decisions are disentangled. Minimum wages reduce job offer incentives and increase job acceptance incentives. We show that...

Persistent link: https://www.econbiz.de/10010887014