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Measuring unemployment composition over the cycle

Barbarino, Alessandro; Pavan, Ronni - Society for Economic Dynamics - SED - 2006

This paper proposes a strategy to measure, in a unified setting, how the job finding probability and the job separation probability conditional on observable and unobservable individual characteristics varies over the business cycle. Recent papers by Shimer and Hall point out how new...

Persistent link: https://www.econbiz.de/10005069220

Payroll Taxes, Social Insurance and Business Cycles

Burda, Michael C; Weder, Mark - C.E.P.R. Discussion Papers - 2010

frictions and unemployment insurance, when the latter is only imperfectly related to search effort. A balanced social insurance … volatility and persistence of vacancies and unemployment. …

Persistent link: https://www.econbiz.de/10008611008

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

We use an estimated monetary business cycle model with search and matching frictions in the labor market and nominal … movements in GDP, unemployment, vacancies, and wages in the period from 2007 until 2011. We show that contractionary financial … factors and reduced efficiency in labor market matching were largely responsible for the experience in the U.S. Financial …

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

The Output Gap, the Labor Wedge, and the Dynamic Behavior of Hours

Sala, Luca; Söderström, Ulf; Trigari, Antonella - C.E.P.R. Discussion Papers - 2010

We use a standard quantitative business cycle model with nominal price and wage rigidities to estimate two measures of economic inefficiency in recent U.S. data: the output gap---the gap between the actual and efficient levels of output---and the labor wedge---the wedge between households'...

Persistent link: https://www.econbiz.de/10008642884

Fiscal Multipliers Over the Business Cycle

Michaillat, Pascal - C.E.P.R. Discussion Papers - 2011

the labor market always sees vast flows of workers and a great deal of matching, recessions are periods of acute job …

Persistent link: https://www.econbiz.de/10009324257

Skill-Biased Technological Change and the Business Cycle

Balleer, Almut; van Rens, Thijs - C.E.P.R. Discussion Papers - 2011

Over the past two decades, technological progress in the United States has been biased towards skilled labor. What does this imply for business cycles? We construct a quarterly skill premium from the CPS and use it to identify skill-biased technology shocks in a VAR with long-run restrictions....

Persistent link: https://www.econbiz.de/10009643505

Skill-biased technological change and the business cycle

Balleer, Almut; Rens, Thijs van - Department of Economics and Business, Universitat … - 2008

Persistent link: https://www.econbiz.de/10004969342

On-the-job Search and the Cyclical Dynamics of the Labor Market

Lubik, Thomas A.; Krause, Michael U. - Society for Economic Dynamics - SED - 2005

Persistent link: https://www.econbiz.de/10005051321

A Theory of Countercyclical Government-Consumption Multiplier

Michaillat, Pascal - C.E.P.R. Discussion Papers - 2012

This paper proposes a dynamic stochastic general equilibrium model in which the government-consumption multiplier doubles when unemployment rises from 5% to 8%. Theoretically, such countercyclicality arises because of a nonlinearity, namely, that labor supply is convex in a labor market...

Persistent link: https://www.econbiz.de/10011083889

Wage Rigidity and Job Creation

Haefke, Christian; Sonntag, Marcus; van Rens, Thijs - C.E.P.R. Discussion Papers - 2012

Recent research in macroeconomics emphasizes the role of wage rigidity in accounting for the volatility of unemployment fluctuations. We use worker-level data from the CPS to measure the sensitivity of wages of newly hired workers to changes in aggregate labor market conditions. The wage of new...

Persistent link: https://www.econbiz.de/10011084442