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Housework and Fiscal Expansions
Gnocchi, Stefano; Hauser, Daniela; Pappa, Evi - Bank of Canada - 2014
We build an otherwise-standard business cycle model with housework, calibrated consistently with data on time use, in order to discipline consumption-hours complementarity and relate its strength to the size of fiscal multipliers. We show that if substitutability between home and market goods is...
Persistent link: https://www.econbiz.de/10010885042
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Changing Labour Market Participation Since the Great Recession: A Regional Perspective
Cheung, Calista; Granovsky, Dmitry; Velasco, Gabriella - Bank of Canada - 2015
This paper discusses broad trends in labour force participation and part-time employment across different age groups since the Great Recession and uses provincial data to identify changes related to population aging, cyclical effects and other factors. The main population age groups examined are...
Persistent link: https://www.econbiz.de/10011253081
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Does intra-firm bargaining matter for business cycle dynamics?
Krause, Michael; Lubik, Thomas A. - Deutsche Bundesbank - 2007
We analyse the implications of intra-firm bargaining for business cycle dynamics in models with large firms and search …
Persistent link: https://www.econbiz.de/10005083080
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On-the-job search and the cyclical dynamics of the labor market
Krause, Michael; Lubik, Thomas A. - Deutsche Bundesbank - 2007
We show how on-the-job search and the propagation of shocks to the economy are intricately linked. Rising search by … employed workers in a boom amplifies the incentives of firms to post vacancies. In turn, more vacancies induce more on …-the-job search. By keeping job creation costs low for firms, on-the-job search greatly amplifies shocks. In our baseline calibration …
Persistent link: https://www.econbiz.de/10005083231
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Reforming the labor market and improving competitiveness: An analysis for Spain using FiMod
Schwarzmüller, Tim; Stähler, Nikolai - Deutsche Bundesbank - 2011
This paper uses an extended version of 'FiMod - A DSGE Model for Fiscal Policy Simulations' (Stähler and Thomas, 2011) with endogenous job destruction decisions by private firms to analyze the effects of several currently discussed labor market reforms on the Spanish economy. The main focus is...
Persistent link: https://www.econbiz.de/10009416982
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Transitions in the German labor market: Structure and crisis
Krause, Michael U.; Uhlig, Harald - Deutsche Bundesbank - 2011
featured mainly declining unemployment rates. We develop a search and matching model with heterogeneous skills to explore the …
Persistent link: https://www.econbiz.de/10009493253
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FiMod - a DSGE model for fiscal policy simulations
Stähler, Nikolai; Thomas, Carlos - Deutsche Bundesbank - 2011
, public purchases and the public sector wage bill. Finally, we consider a labor market characterized by search and matching …
Persistent link: https://www.econbiz.de/10009493747
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Intertemporal Substitution in Macroeconomics: Evidence from a Two-Dimensional Labour Supply Model with Money
Dib, Ali; Phaneuf, Louis - Bank of Canada - 2005
The hypothesis of intertemporal substitution in labour supply has a history of empirical failure when confronted with aggregate time-series data. The authors show that a two-dimensional labour supply model, adapted to an environment with money as originally proposed by Lucas and Rapping (1969)...
Persistent link: https://www.econbiz.de/10005162401
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Dynamic Employment and Hours Effects of Government Spending Shocks
Yuan, M.; Li, W. - Bank of Canada - 1999
equilibrium model with a matching mechanism between vacancies and unemployed workers. The model is estimated for the United States …
Persistent link: https://www.econbiz.de/10005536853
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NAIRU estimates for Germany: New evidence on the inflation-unemployment trade-off
Kajuth, Florian - Deutsche Bundesbank - 2010
The paper estimates the NAIRU from a Phillips curve relationship in the state-space framework. To identify the inflation-unemployment trade-off we account for a time-varying inflation trend to control for the part of inflation that is not affected by the cyclical component of unemployment. In...
Persistent link: https://www.econbiz.de/10008674218