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Stabilization versus insurance: Welfare effects of procyclical taxation under incomplete markets

Costain, James S.; Reiter, Michael - Department of Economics and Business, Universitat … - 2004

We construct and calibrate a general equilibrium business cycle model with unemployment and precautionary saving. We compute the cost of business cycles and locate the optimum in a set of simple cyclical fiscal policies. Our economy exhibits productivity shocks, giving firms an incentive to hire...

Persistent link: https://www.econbiz.de/10005707978

Embodied technical change and the fluctuations of wages and unemployment

Reiter, Michael - Department of Economics and Business, Universitat … - 2006

The paper shows that a matching model where technological change is partially embodied in the job match is successful … in explaining the variability of unemployment and vacancies. If we incorporate long-term wage contracts into the model …

Persistent link: https://www.econbiz.de/10005772185

Business cycles, unemployment insurance and the calibration of matching models

Costain, James S.; Reiter, Michael - Department of Economics and Business, Universitat … - 2003

This paper theoretically and empirically documents a puzzle that arises when an RBC economy with a job matching … unemployment, or a sufficiently small response of unemployment to labor market policies, but it cannot do both. Variable search and …

Persistent link: https://www.econbiz.de/10005772261

Endogenous labor market participation and the business cycle

Haefke, Christian; Reiter, Michael - Department of Economics and Business, Universitat … - 2006

simple, tractable job market matching model, show analytically how variations in the participation rate are driven by the …

Persistent link: https://www.econbiz.de/10005772290

Are these classical business cycles?

Reiter, Michael; Woitek, Ulrich - Department of Economics and Business, Universitat … - 1999

The aim of this paper is to test formally the classical business cycle hypothesis, using data from industrialized countries for the time period since 1960. The hypothesis is characterized by the view that the cyclical structure in GDP is concentrated in the investment series: fixed investment...

Persistent link: https://www.econbiz.de/10005707968