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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

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

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

A Real Business Cycle Model of the Phillips Curve

Rafael, Muñoz - Institut de Recherche Économique et Sociale (IRES), … - 1998

The aim of this article is to show that RBC models can account for the so-called Phillips curve. We propose an efficiency wage model in which money is introduced via a cash-in-advance constraint. Households choose how much effort to devote by comparing present real and nominal wages with past...

Persistent link: https://www.econbiz.de/10004985023

Standard-of-Living Aspirations and Economic Cycles

de la Croix, David - Institut de Recherche Économique et Sociale (IRES), … - 2000

Past experiences and social forces have been incorporated into tastes in order to analyze various microeconomic issues. We use these extended preferences to model the making of standard-of-living aspirations and study their effect on macroeconomic variables. We concentrate first on consumption...

Persistent link: https://www.econbiz.de/10004985270

Can the Matching Model Account for Spanish Unemployment ?

Fonseca, Raquel; Muñoz, Rafael - Institut de Recherche Économique et Sociale (IRES), … - 1999

matching between vacancies and unemployed. We calibrate the model for the Spanish economy and simulate it considering two … and the Beveridge curve. We build a stochastic dynamic general equilibrium matching model, which assumes failures in the …

Persistent link: https://www.econbiz.de/10004985001

Business Cycle Models and Stylized Facts in Germany

Ertz, Guy - Institut de Recherche Économique et Sociale (IRES), … - 1996

The aim of this paper is to test to what extent a benchmark real and monetary business cycle model can account for some basic stylized facts with a particular emphasis on monetary variables. We calibrate the model on German data using the method proposed by Cooley and Prescott (1995). First we...

Persistent link: https://www.econbiz.de/10004985002

On the optimality of search matching equilibrium when workers are risk averse

LEHMANN, Etienne; LINDEN, Bruno VAN DER - Institut de Recherche Économique et Sociale (IRES), … - 2002

This papers revisits the normative properties of search-matching economies when workers have concave utility functions … unemployed people freely choose their search effort. Compared to the first case, the optimum is characterized by imperfect … unemployment insurance and lower levels of search intensity and output in the second setting. To decenralize these optima …

Persistent link: https://www.econbiz.de/10004985336

From one to many islands : the emergence of search and matching models

BATYRA, Anna; VROEY, Michel DE - Institut de Recherche Économique et Sociale (IRES), … - 2009

The notion of frictional unemployment first arose in the writings of Beveridge, Pigou and Hicks. Why did it fail at the time to grow into a fully fledged theory ? Our answer is simple. This failure was due to the fact these economists were unwilling and/or unable to go beyond the then-prevailing...

Persistent link: https://www.econbiz.de/10005008066

Fighting unemployment without worsening povety: Basic income versus reductions of social security contributions

Van der Linden, Bruno - Institut de Recherche Économique et Sociale (IRES), … - 1998

Reductions of social security contributions (RSSC) and a basic income (BI) (or the related Negative Income Tax) are considered in a dynamic general equilibrium framework with imperfect competition on the labour market (the ‘wage-setting/price-setting’ model). The cases with homogeneous and...

Persistent link: https://www.econbiz.de/10004985331

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