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Labor Market Dynamics under Long Term Wage Contracting

Rudanko, Leena - Society for Economic Dynamics - SED - 2006

This paper introduces risk averse workers into a search and matching model and considers the quantitative performance … search and matching models. … in unemployment and vacancies but also wages, is the drop in consumption for the unemployed. In addition, explaining the …

Persistent link: https://www.econbiz.de/10005090796

Unemployment and Endogenous Reallocation over the Business Cycle

Carrillo-Tudela, Carlos; Visschers, Ludo - CESifo - 2013

equilibrium model with heterogenous labor markets. In this model three different types of unemployment arise: search, rest and …

Persistent link: https://www.econbiz.de/10010877858

Business Cycles, Wage Setting, and Asymmetric Information

Shimer, Robert - Society for Economic Dynamics - SED - 2004

This paper explores wage-setting in the presence of asymmetric information. Firms know their own productivity, while workers only know the distribution of productivity in the economy. Although there is unemployment in equilibrium, the labor market is competitive in the sense of Moen (1997):...

Persistent link: https://www.econbiz.de/10005069473

A dynamic matching model with downward wage rigidity

Jansen, Marcel; Costain, James - Society for Economic Dynamics - SED - 2004

labor market models have a hard time generating the degree of cyclical volatility in unemployment and vacancies that is … studies a dynamic matching model with downward wage rigidity. Like Mortensen and Pissarides (2001) and Jansen (2001), we … surplus of jobs exhibits substantially more cyclical volatility than in standard matching models with transferable utility …

Persistent link: https://www.econbiz.de/10005069525

Why do Europeans Work Less than Americans? Public Consumption and Welfare Benefits as a Cause of the North-Atlantic Divide

Hall, Axel; Zoega, Gylfi - CESifo - 2015

productivity. The higher wages make firms offer fewer vacancies, as well as raising the opportunity cost of working by enabling …

Persistent link: https://www.econbiz.de/10011205377

Unemployment, Growth and Speed of Transition in China

Fidrmuc, Jan; Huang, Shuo - CESifo - 2013

We investigate the relationship between unemployment and growth in China. We find considerable differences in the nature of this relationship across Chinese regions. We argue that this may reflect the different progress in transition across regions, in line with the Aghion-Blanchard model of...

Persistent link: https://www.econbiz.de/10010877790

The Distributional Consequences of Tax Reforms under Market Distortions

Angelopoulos, Konstantinos; Jiang, Wei; Malley, Jim - CESifo - 2011

In this paper we examine the importance of imperfect competition in product and labour markets in determining the long-run welfare effects of tax reforms assuming agent heterogeneity in capital holdings. Each of these market failures, independently, results in welfare losses for at least a...

Persistent link: https://www.econbiz.de/10009325806

Unemployment and Finance: How do Financial and Labour Market Factors Interact?

Gatti, Donatella; Rault, Christophe; Vaubourg, Anne-Gael - CESifo - 2009

Using annual data for 18 OECD countries over the period 1980-2004, we investigate how labour and financial factors interact to determine unemployment by estimating a dynamic panel model using the system generalized method of moments (GMM). We show that the impact of financial variables depends...

Persistent link: https://www.econbiz.de/10008596580

Labour Market Institutions and Unemployment. An International Comparison

Flaig, Gebhard; Rottmann, Horst - CESifo - 2011

This paper deals with the effects of labour market institutions on unemployment in a panel of 19 OECD countries for the period 1960 to 2000. In contrast to many other studies, we use long time series and analyze cyclically adjusted trend values of the unemployment rate. Our novel contribution is...

Persistent link: https://www.econbiz.de/10009278129

Imperfect Competition, General Equilibrium and Unemployment

Gersbach, Hans; Schniewind, Achim - CESifo - 1999

We analyze whether different learning abilities of firms with respect to general equilibrium effects lead to different levels of unemployment. We consider a general equilibrium model where firms in one sector compete à la Cournot and a real wage rigidity leads to unemployment. If firms consider...

Persistent link: https://www.econbiz.de/10005766055