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Spillover effects of minimum wages in a two-sector search model
Moser, Christoph; Stähler, Nikolai - Deutsche Bundesbank - 2009
Labor market studies on the effects of minimum wages are typically confined to the sector or worker group directly affected. We present a two-sector search model in which one sector is more productive than the other one and thus, pays higher wages. In such a framework, setting a minimum wage in...
Persistent link: https://www.econbiz.de/10005083115
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Cross-border liquidity, relationships and monetary policy: Evidence from the Euro area interbank crisis
Abbassi, Puriya; Bräuning, Falk; Fecht, Falko; … - Deutsche Bundesbank - 2014
We analyze the impact of financial crises and monetary policy on the supply of wholesale funding liquidity, and also on the compositional supply effects through cross-border and relationship lending. For empirical identification, we draw on the proprietary bank-to-bank European interbank dataset...
Persistent link: https://www.econbiz.de/10011161234
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Optimal lender of last resort policy in different financial systems
Fecht, Falko; Tyrell, Marcel - Deutsche Bundesbank - 2004
In a framework closely related to Diamond and Rajan (2001) we characterize different financial systems and analyze the welfare implications of different LOLR-policies in these financial systems. We show that in a bank-dominated financial system it is less likely that a LOLR-policy that follows...
Persistent link: https://www.econbiz.de/10005083256
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The ESRB at 1
Gerlach, Stefan (ed.); Gnan, Ernest (ed.); Ulbrich, Jens (ed.) - Conference on ESRB at 1 <1, 2011, Berlin>; SUERF - The …; … - 2012
SUERF – The European Money and Finance Forum, the Deutsche Bundesbank and the Institute for Monetary and Financial Stability (IMFS) took the opportunity of the first anniversary of this new institution to organise a joint conference in Berlin on 8-9 November 2011. The purpose of this event was...
Persistent link: https://www.econbiz.de/10011711529
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Transitions in the German labor market: Structure and crisis
Krause, Michael U.; Uhlig, Harald - Deutsche Bundesbank - 2011
featured mainly declining unemployment rates. We develop a search and matching model with heterogeneous skills to explore the … role of structural and cyclical policies for this performance. Calibrating unemployment benefits to approximate legislation … before and after the reforms, we find a large reduction in unemployment and its duration, with the transition concluding …
Persistent link: https://www.econbiz.de/10009493253
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Instability and indeterminacy in a simple search and matching model
Krause, Michael; Lubik, Thomas A. - Deutsche Bundesbank - 2010
We demonstrate the possibility of indeterminacy and non-existence of equilibrium dynamics in a standard business cycle model with search and matching frictions in the labor market. Our results arise for empirically plausible parametrizations and do not rely upon a mechanism such as increasing...
Persistent link: https://www.econbiz.de/10008804630
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Does intra-firm bargaining matter for business cycle dynamics?
Krause, Michael; Lubik, Thomas A. - Deutsche Bundesbank - 2007
We analyse the implications of intra-firm bargaining for business cycle dynamics in models with large firms and search frictions. Intra-firm bargaining implies a feedback effect from the marginal revenue product to wage setting which leads firms to over-hire in order to reduce workers'...
Persistent link: https://www.econbiz.de/10005083080
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On-the-job search and the cyclical dynamics of the labor market
Krause, Michael; Lubik, Thomas A. - Deutsche Bundesbank - 2007
, this allows the model to generate fluctuations of unemployment, vacancies, and labor productivity whose magnitudes are …
Persistent link: https://www.econbiz.de/10005083231
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Government expenditures and unemployment: A DSGE perspective
Mayer, Eric; Moyen, Stéphane; Stähler, Nikolai - Deutsche Bundesbank - 2010
In a New Keynesian DSGE model with labor market frictions and liquidity-constrained consumers aggregate unemployment is … reacts very differently from the group of liquidity-constrained consumers implying that the unemployment rate is likely to …'s parameters, we find that the size of the fiscal (unemployment) multiplier increases with i) highly sticky prices, ii) high …
Persistent link: https://www.econbiz.de/10008534147
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Employment protection and temporary work agencies
Baumann, Florian; Mechtel, Mario; Stähler, Nikolai - Deutsche Bundesbank - 2008
sector in a model of equilibrium unemployment. We find that higher firing costs may even reduce temporary work agency …
Persistent link: https://www.econbiz.de/10005083218