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What goes up sometimes stays up : shocks and institutions as determinants of unemployment persistence

Amisano, Gianni; Serati, Massimiliano - 2002

We analyse the determinants of unemployment persistence in four OECDcountries byestimating a structural Bayesian VAR … with an informative priorbased on an insiders/outsiders model. We explicitly insert unemployment ben-efits and labour taxes … shocks play adominant role in explaining unemployment also in the medium-run. Moreoverreal wages have low sensitivity to …

Persistent link: https://www.econbiz.de/10011327831

Retirement with perfect insurance

Kula, Grzegorz - 2003

This paper focuses on the relation between worker's productivity and retirement decision. Assuming that productivity follows geometric Brownian motion with drift, there exists such a level of productivity for which it is optimal to retire. The worker buys an insurance, which gives a constant...

Persistent link: https://www.econbiz.de/10011334338

The pace of structural change, cyclical shocks and unemployment dynamics : simulations using an empirical flow model

Butter, Frank A. G. den; Dijk, Mark van - 1997

increase in the pace of job creation and destruction may have substantial effects on employment and unemployment;the effects … may be out of its unemployment equilibrium for quite a long time after a shock occurs.The novelty of the model is that it … takes explicitly account of the propagationof shocks through the various duration classes of unemployment andallows for …

Persistent link: https://www.econbiz.de/10010336861