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Labor Market Dynamics under Long Term Wage Contracting

Rudanko, Leena - Society for Economic Dynamics - SED - 2006

in unemployment and vacancies but also wages, is the drop in consumption for the unemployed. In addition, explaining the …

Persistent link: https://www.econbiz.de/10005090796

Does Short-Time Work Save Jobs? A Business Cycle Analysis

Balleer, Almut; Gehrke, Britta; Lechthaler, Wolfgang; … - Institut für Weltwirtschaft (IfW) - 2013

unemployment and output fluctuations. The central question is whether the rule based component (i.e., the existence of the … our baseline scenario the rule based component stabilizes unemployment fluctuations by 15% and output fluctuations by 7 … significant effect on unemployment. These effects are based on a structural VAR estimation which is identified using the output …

Persistent link: https://www.econbiz.de/10010886965

Technology Shocks and UK Business Cycles

Khan, Hashmat; Tsoukalas, John - EconWPA - 2005

After a neutral technology shock, hours worked decline in a persistent manner in the UK. This response is robust to a variety of considerations in the recent literature: measures of labour input, level versus differenced hours in the VAR, small and large VARS, long- versus medium- run...

Persistent link: https://www.econbiz.de/10005126294

Trend Breaks, Long Run Restrictions, and the Contractionary Effects of Technology Shocks

Fernald, John - Society for Economic Dynamics - SED - 2004

Recent empirical work using structural VARs with long-run restrictions assesses whether hours worked per capita rises or falls following a technology improvement. This literature reaches divergent conclusions on the sign of this effect, depending on whether hours worked enters the VAR in...

Persistent link: https://www.econbiz.de/10005069587

The Marginal Worker and the Aggregate Elasticity of Labor Supply

Gourio, Francois; Noual, Pierre-Alexandre - Society for Economic Dynamics - SED - 2006

This paper attempts to reconcile the high apparent aggregate elasticity of labor supply with small micro estimates. We elaborate on Rogerson's seminal work (1988) and show that his results rely neither on complete markets nor on lotteries, but rather on the indivisibility and the fact that the...

Persistent link: https://www.econbiz.de/10005090767

Evaluating the performance of the search and matching model with sticky wages

Reicher, Christopher - Institut für Weltwirtschaft (IfW) - 2010

Several authors have proposed staggered wage bargaining as a way to introduce sticky wages into search and matching models while preserving individual rationality. I evaluate the quantitative implications of such an approach. I feed through a series of estimated shocks from US data into a search...

Persistent link: https://www.econbiz.de/10009021626

A simple decomposition of the variance of output growth across countries

Reicher, Christopher - Institut für Weltwirtschaft (IfW) - 2011

This paper outlines a simple regression-based method to decompose the variance of an aggregate time series into the variance of its components, which is then applied to measure the relative contributions of productivity, hours per worker, and employment to cyclical output growth across a panel...

Persistent link: https://www.econbiz.de/10009132526

A reappraisal of the inflation-unemployment tradeoff

Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - Institut für Weltwirtschaft (IfW) - 2005

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the … expectations, there is a long-run inflation-unemployment tradeoff. Our empirical analysis suggests that this Phillips curve may be … reasonably flat. We show that the persistence of inflation and unemployment, in response to monetary policy shocks, is related to …

Persistent link: https://www.econbiz.de/10010955553