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Evaluating the Performance of the Search and Matching Model

Yashiv, Eran - C.E.P.R. Discussion Papers - 2005

specifications of the data on many dimensions, though not on all. This includes capturing the high persistence and high volatility of … most of the key variables, the negative co-variation of unemployment and vacancies, and the behaviour of the worker job … finding rate. A key role in this fit is played by the convexity of hiring costs and the stochastic properties of the …

Persistent link: https://www.econbiz.de/10005124215

Factor adjustment costs: A structural investigation

Mumtaz, Haroon; Zanetti, Francesco - In: Journal of Economic Dynamics and Control 51 (2015) C, pp. 341-355

This paper assesses various capital and labor adjustment costs functions estimating a general equilibrium framework with Bayesian methods using US aggregate data. The estimation finds that the adjustment costs are convex in both capital and labor and allowing for their joint interaction is...

Persistent link: https://www.econbiz.de/10011190675

Sclerosis and large volatilities: Two sides of the same coin

Gartner, Hermann; Merkl, Christian; Rothe, Thomas - In: Economics Letters 117 (2012) 1, pp. 106-109

large volatilities are two sides of the same coin. Both may be driven by large hiring costs and low quit rates. …

Persistent link: https://www.econbiz.de/10010580537

Structural and Cyclical Forces in the Labor Market During the Great Recession: Cross-Country Evidence

Sala, Luca; Söderström, Ulf; Trigari, Antonella - C.E.P.R. Discussion Papers - 2012

movements in GDP, unemployment, vacancies, and wages in the period from 2007 until 2011. We show that contractionary financial …

Persistent link: https://www.econbiz.de/10011083316

Self-employment and business cycle persistence: Does the composition of employment matter for economic recoveries?

Finkelstein Shapiro, Alan - In: Journal of Economic Dynamics and Control 46 (2014) C, pp. 200-218

Self-employment comprises an important share of employment in many countries, and tends to expand during downturns through higher inflows from unemployment. Furthermore, countries with higher self-employment shares exhibit lower cyclical output persistence. I build a business cycle model with...

Persistent link: https://www.econbiz.de/10010906771

Factor Demand Linkages, Technology Shocks, and the Business Cycle

Holly, Sean; Petrella, Ivan - In: The Review of Economics and Statistics 94 (2012) 4, pp. 948-963

This paper argues that factor demand linkages can be important for the transmission of both sectoral and aggregate shocks. We show this using a panel of highly disaggregated manufacturing sectors together with sectoral structural VARs. When sectoral interactions are explicitly accounted for, a...

Persistent link: https://www.econbiz.de/10011009947

Cyclical behavior of unemployment and job vacancies in Japan

Miyamoto, Hiroaki - In: Japan and the World Economy 23 (2011) 3, pp. 214-225

fluctuations of unemployment and job vacancies, it cannot generate the observed unemployment and vacancy fluctuations in response … larger cyclical fluctuations in unemployment and job vacancies. However, it still falls short of what observed in the …

Persistent link: https://www.econbiz.de/10010574383

Delivering Endogenous Inertia in Prices and Output

Johri, Alok - In: Review of Economic Dynamics 12 (2009) 4, pp. 736-754

This paper presents a DGE model in which aggregate price level inertia is generated endogenously by the optimizing behaviour of price-setting firms. All the usual sources of inertia are absent here ie., all firms are simultaneously free to change their price once every period and face no...

Persistent link: https://www.econbiz.de/10004985615

Fair Wages in a New Keynesian Model of the Business Cycle

Danthine, Jean-Pierre; Kurmann, Andre - In: Review of Economic Dynamics 7 (2004) 1, pp. 107-142

We build a New Keynesian model of the business cycle with sticky prices and real wage rigidities motivated by efficiency wages of the gift exchange variety. Compared to a standard sticky price model, our Fair Wage model provides an explanation for structural unemployment and generates more...

Persistent link: https://www.econbiz.de/10005091025

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

Fernald, John - C.E.P.R. Discussion Papers - 2006

Structural vector-autoregressions with long-run restrictions are extraordinarily sensitive to low-frequency correlations. This paper explores this sensitivity analytically and via simulations, focusing on the contentious issue of whether hours worked rise or fall when technology improves. Recent...

Persistent link: https://www.econbiz.de/10005067465