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Bonus question : does flexible incentive pay dampen unemployment dynamics?
Gaur, Meghana; Grigsby, John; Hazell, Jonathon; Ndiaye, … - 2023
We introduce dynamic incentive contracts into a model of unemployment dynamics and present three results. First, wage … cyclicality from incentives does not dampen unemployment dynamics: the response of unemployment to shocks is first … cyclicality from bargaining dampens unemployment dynamics through the standard mechanism. Third, our calibrated model suggests 46 …
Persistent link: https://www.econbiz.de/10014390530
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Bonus question : does flexible incentive pay dampen unemployment dynamics?
Gaur, Meghana; Grigsby, John; Hazell, Jonathon - 2023
Persistent link: https://www.econbiz.de/10014429746
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Understanding severance pay
Parsons, Donald O. - 2013
Severance pay, a fixed-sum payment to workers at job separation, has been the focus of intense policy concern for the last several decades, but much of this concern is unearned. The design of the ideal separation package is outlined and severance pay emerges as a natural component of job...
Persistent link: https://www.econbiz.de/10010195446
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Incentives in Competitive Search Equilibrium and Wage Rigidity
Moen, Espen R.; Rosen, Asa - 2006
the responsiveness of the unemployment rate to changes in macroeconomic variables. Most importantly, private information … increases the responsiveness of the unemployment rate to changes in the general (type and effort independent) productivity level …. If the changes also affect the information structure, the responsiveness of the unemployment rate may be large even if …
Persistent link: https://www.econbiz.de/10014060646
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The effects of productivity and benefits on unemployment : breaking the link
Brown, Alessio J. G.; Kohlbrecher, Britta; Merkl, Christian - 2017
quantitative effects of (i) aggregate productivity shocks on unemployment and (ii) unemployment benefits on unemployment. This … model, unemployment benefits affect households' behavior directly, without having to run via the bargained wage. A … effect of benefits on unemployment. Our analysis shows the importance of investigating the effects of policies on the …
Persistent link: https://www.econbiz.de/10011625891
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The effects of productivity and benefits on unemployment : breaking the link
Brown, Alessio J. G.; Kohlbrecher, Britta; Merkl, Christian - 2017
quantitative effects of (i) aggregate productivity shocks on unemployment and (ii) unemployment benefits on unemployment. This … model, unemployment benefits affect households' behavior directly, without having to run via the bargained wage. A … effect of benefits on unemployment. Our analysis shows the importance of investigating the effects of policies on the …
Persistent link: https://www.econbiz.de/10012111816
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Wage cyclicalities and labor market dynamics at the establishment level : theory and evidence
Merkl, Christian; Stüber, Heiko - 2017
Using the new AWFP dataset that covers all German establishments, we document a substantial cross-sectional heterogeneity of establishments' average real wages over the business cycle. While the median establishments' real wages are procyclical, there is a large fraction of establishments with...
Persistent link: https://www.econbiz.de/10011735900
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Labor market dynamics with sorting
Schulz, Bastian - 2023
market sorting, and aggregate shocks. In response to a positive productivity shock, incentives to sort increase …. The distribution of unemployment worker types adjusts slowly, which amplifies job creation in the short run. In the long … run, falling unemployment curtails the firms' vacancy posting. The model closely matches time-series moments from U …
Persistent link: https://www.econbiz.de/10014366741
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On-the-Job Search and Labor Market Reallocation
Tasci, Murat - 2008
labor productivity in the U.S. show that standard deviations for unemployment, vacancies and market tightness (vacancy-unemployment … unemployment and vacancies over business cycle frequencies (i.e. it is consistent with the Beveridge curve) …
Persistent link: https://www.econbiz.de/10012723659
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Firm wages in a frictional labor market
Rudanko, Leena - 2018
applications, I first show that firm wages dampen wage variation over the business cycle, amplifying that in unemployment, with …
Persistent link: https://www.econbiz.de/10011971300