This paper analyzes the effects of anticipated inflation on the resource allocations between production and financial services. We develop a model with heterogeneous workers and two sectors economy. A manufacturing sector producing a final composite good and a financial sector providing monetary...

This research exploits a large employer-level panel dataset in order to analyse employment and worker flows for all establishments in a highly industrialized region in the North- East of Italy, the Veneto. Our results have relevance for models of job creation, job destruction and labour excess...

This paper looks at youth labour market trends concentrating on developing and transition countries. Questions relating to the integration of young people into decent work have in recent times once again begun to occupy a central position in Government Policy issues. Recently co-ordinated...

The cyclical behavior of hours worked, wages, and consumption does not conform with the prediction of the representative agent with standard preferences. The residual in the intra-temporal first-order condition for commodity consumption and leisure is often viewed as a failure of labor-market...

We investigate the mapping from individual to aggregate labor supply using a general equilibrium heterogeneous-agent model with an incomplete market. The nature of heterogeneity among workers is calibrated using wage data from the PSID. The gross worker flows between employment and nonemployment...

This publication is a non-technical report prepared for Polish Ministry of Economy and Labor. The main goal is to present a comprehensive statistical and econometric analysis of employment, unemployment and participation in Poland in the period 1998-2004 and confront Polish experiences with...

This paper argues that scarcities for non-transferable fixed-supply goods such as land, infrastucture and social capital, may affect European unemployment in two, mutually enforcing, ways. Firstly the existence of minimum non-transferable capital requirements per worker implies that in a growing...

We investigate the steady decline in aggregate unemployment rates in Korea since the 1960's. We argue that a pronounced decrease in the intensity of reallocation shocks, which resulted in a downward trend in the natural rate of unemployment, has been an important factor in this decline. Our...

The recent reform of the federal welfare system is meant to encourage recipients to leave welfare and enter the workforce. If the reform is successful there are likely to be effects felt throughout the low-- skilled end of the labor market. As former welfare recipients enter the labor market,...