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Matching Models Under Scrutiny : Understanding the Shimer Puzzle
Gabriele, CARDULLO - Institut de Recherche Économique et Sociale (IRES), … - 2008
Two papers have recently questioned the quantitative consistency of the search and matching models. Shimer (2005) has … argued that a text-book matching model is unable to explain the cyclical variation of unemployment and vacancies in the U …
Persistent link: https://www.econbiz.de/10004984783
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The Dynamic Beveridge Curve
Fujita, Shigeru; Ramey, Garey - EconWPA - 2005
the matching model with sunk costs, vacancies react sluggishly to shocks, leading to highly realistic dynamics. … both the vacancy- unemployment ratio and employment. We show that the standard version of the Mortensen-Pissarides matching … model fails to replicate this dynamic pattern due to the rapid responses of vacancies. We extend the model by introducing a …
Persistent link: https://www.econbiz.de/10005561342
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Search Frictions on Product and Labor markets : Money in the Matching Function
Etienne, LEHMANN; Bruno, VAN DER LINDEN - Institut de Recherche Économique et Sociale (IRES), … - 2007
selling their production and this affects their decisions to create jobs. Due to search-frictins on the product market … their Competitive Search Equilibrium values, the unemployment rate is minimized. Yet, the Competitive Search Equilibrium is …
Persistent link: https://www.econbiz.de/10004984870
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Skilled and Unskilled Employment in a Spanish Business Cycle Model
Muñoz, Rafael - Institut de Recherche Économique et Sociale (IRES), … - 1999
We analyze to what extent skill heterogeneity in the labor market with different wage formation mechanisms can explain the features of the Spanish labor market. The model assumes two types of workers with differences in skills. Skilled labor sets wages in an efficiency way while unskilled labor...
Persistent link: https://www.econbiz.de/10004985274
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Technology Shocks and UK Business Cycles
Khan, Hashmat; Tsoukalas, John - EconWPA - 2005
After a neutral technology shock, hours worked decline in a persistent manner in the UK. This response is robust to a variety of considerations in the recent literature: measures of labour input, level versus differenced hours in the VAR, small and large VARS, long- versus medium- run...
Persistent link: https://www.econbiz.de/10005126294
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Do labour taxes (and their composition) affect wages in the short and in the long run?
Arpaia, Alfonso; Carone, Giuseppe - EconWPA - 2004
Measures aimed at reducing the tax burden on labour have been advocated to alleviate the EU unemployment problem. Most of the analyses document a relationship between the unemployment rate and the tax burden on labour. Hence, it is not possible to discern whether the effect on unemployment...
Persistent link: https://www.econbiz.de/10005412493
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Matching and Saving in Continuous Time: Theory
BAYER, Christian; WALDE, Klaus - Institut de Recherche Économique et Sociale (IRES), … - 2010
We analyse optimal saving of risk-averse households when labour income stochastically jumps between two states. The generalized Keynes-Ramsey rule includes a precautionary savings term. A phase diagram analysis illustrates consumption and wealth dynamics within and between states. There is an...
Persistent link: https://www.econbiz.de/10008505490
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Job Turnover, Unemployment and Labor Market Institutions
Gilles, Joseph; Pierrard, Olivier; Sneessens, Henri R. - Institut de Recherche Économique et Sociale (IRES), … - 2003
. We construct an intertemporal general equilibrium model with search unemployment and endogenous job turnover, and examine …
Persistent link: https://www.econbiz.de/10004985118
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Job Flows, Worker Flows and Churning
Burgess, Simon; Lane, Julia; Stevens, David - EconWPA - 1996
We utilize a large establishment-level panel dataset to explore the links between gross job flows and gross worker flows. Our findings have relevance for models of job creation and job destruction, and labour reallocation. We find churning flows (the difference between worker and job flows at...
Persistent link: https://www.econbiz.de/10005125739
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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