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The Amplification of Unemployment Fluctuations Through Self-Selection

Hall, Robert E. - 2021

Unemployment arises from frictions in the matching of job-seekers and employers. The level of resources that employers …

Persistent link: https://www.econbiz.de/10013218331

Wage Determination and Employment Fluctuations

Hall, Robert E. - 2021

employers, as measured by vacancies, are low. A model of matching frictions explains the qualitative responses of the labor …

Persistent link: https://www.econbiz.de/10013236792

Measuring Job-Finding Rates and Matching Efficiency with Heterogeneous Jobseekers

Hall, Robert E. - 2015

Matching efficiency is the productivity of the process for matching jobseekers to available jobs. Job-finding is the … output; vacant jobs and active jobseekers are the inputs. Measurement of matching efficiency follows the same principles as … measuring an index of productivity of production. We develop a framework for measuring matching productivity when the population …

Persistent link: https://www.econbiz.de/10013028544

Substitution Over Time in Work and Consumption

Hall, Robert E. - 2021

Sir John Hick's Value and Capital provided the theoretical foundation for an important element of modern macroeconomics. Intertemporal substitution - deferral or acceleration of economic activity in response to the real interest rate and other incentives - is the mechanism generally relied upon...

Persistent link: https://www.econbiz.de/10013216121

The Role of Consumption in Economic Fluctuations

Hall, Robert E. - 2021

Consumption and income tend to move together; the correlation of their first differences is about 0.14. In most accounts, the correlation is attributed to the upward slope of the consumption function. When the publicis better off, they consume more. But in the microeconomic theory of the...

Persistent link: https://www.econbiz.de/10013232187

Consumption

Hall, Robert E. - 2021

Macroeconomic research on consumption has been influenced profoundly by rational expectations. First, rational expectations together with the hypothesis of constant expected real interest rates implies that consumption should evolve as a random walk. Much of the research of the past decade has...

Persistent link: https://www.econbiz.de/10013240972

Real Interest and Consumption

Hall, Robert E. - 2021

One of the important determinants of the response of saving and consumption to the real interest rate is the elasticity of intertemporal substitution. That elasticity can be measured by the response of the rate of change of consumption to changes in the expected real interest rate. A detailed...

Persistent link: https://www.econbiz.de/10013246671

The Sensitivity of Consumption to Transitory Income : Estimates from Panel Data on Households

Hall, Robert E.; Mishkin, Frederic S. - 2021

We investigate the stochastic relation between income and consumption (specifically, consumption of food) within a panel of about 2,000 households. Our major findings are: 1. Consumption responds much more strongly to permanent than to transitory movements of income. 2. The response to...

Persistent link: https://www.econbiz.de/10013313805