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New Developments in Models of Search in the Labour Market

Mortensen, Dale T; Pissarides, Christopher - C.E.P.R. Discussion Papers - 1999

This paper surveys recent work in equilibrium models of labor markets characterized by search and recruitment frictions …

Persistent link: https://www.econbiz.de/10005497772

Consumption and Savings with Unemployment Risk: Implications for Employment Contracts

Pissarides, Christopher - C.E.P.R. Discussion Papers - 2002

This Paper derives optimal employment contracts when workers are risk-averse and there are employment and unemployment risks. Without income insurance, consumption rises during employment and falls during unemployment. Optimal employment contracts offer severance compensation to smooth...

Persistent link: https://www.econbiz.de/10005124282

The Missing Link: Product Market Regulation, Collective Bargaining and the European Unemployment Puzzle

Haefke, Christian; Ebell, Monique - Society for Economic Dynamics - SED - 2004

We examine product market regulation as an explanation for divergent US and continental European labor market performance. First, we show that the choice of bargaining regime is crucial for the effect of product market competition on unemployment rates, being substantial under collective and...

Persistent link: https://www.econbiz.de/10005069554

Looking Into The Black Box: A Survey Of The Matching Function

Petrongolo, Barbara; Pissarides, Christopher - C.E.P.R. Discussion Papers - 2000

accepted as superior to all others. Instead, an aggregate matching function with hires as a function of vacancies and …We survey the microfoundations, empirical evidence and estimation issues underlying the aggregate matching function …. Several microeconomic matching mechanisms have been suggested in the literature with some successes but none is generally …

Persistent link: https://www.econbiz.de/10005114438

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

The Ins and Outs of European Unemployment

Petrongolo, Barbara; Pissarides, Christopher - C.E.P.R. Discussion Papers - 2008

In this paper we study the contribution of inflows and outflows to the dynamics of unemployment in three European countries, the United Kingdom, France and Spain. We compare performance in these three countries making use of both administrative and labour force survey data. We find that the...

Persistent link: https://www.econbiz.de/10005792231

Labor-Market Matching with Precautionary Savings and Aggregate Fluctuations

Krusell, Per; Mukoyama, Toshihiko; Sahin, Aysegul - C.E.P.R. Discussion Papers - 2009

-Mortensen-Pissarides structure: firms enter by posting vacancies and match with workers bilaterally, with match probabilities given by an aggregate … matching function. Wages are determined through Nash bargaining. We also consider aggregate productivity shocks, and a complete …

Persistent link: https://www.econbiz.de/10005068290

The Impact of TFP Growth on Steady-State Unemployment

Pissarides, Christopher; Vallanti, Giovanna - C.E.P.R. Discussion Papers - 2005

Theoretical predictions of the impact of TFP growth on unemployment are ambiguous, and depend on the extent to which new technology is embodied in new jobs. We evaluate a model with embodied and disembodied technology, capitalization, and creative destruction effects by estimating the impact of...

Persistent link: https://www.econbiz.de/10005504604

Structural Change and Aggregate Employment with Mobility Barriers

Pissarides, Christopher; Ngai, Liwa Rachel - Society for Economic Dynamics - SED - 2005

Persistent link: https://www.econbiz.de/10004970319

Occupational Specificity of Human Capital

Manovskii, Iourii; Kambourov, Gueorgui - Society for Economic Dynamics - SED - 2004

In this paper we document substantial returns to occupational tenure. Everything else being constant, ten years of occupational tenure are likely to increase wages by at least $19\%$. Moreover, we show that when occupational experience is taken into account, tenure with an industry or an...

Persistent link: https://www.econbiz.de/10005090910