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Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2009

This paper presents a theory explaining the labor market matching process through microeconomic incentives. There are heterogeneous variations in the characteristics of workers and jobs, and firms face adjustment costs in responding to these variations. Matches and separations are described...

Persistent link: https://www.econbiz.de/10004961441

Characteristics of Unemployment Dynamics: The Chain Reaction Approach

Karanassou, Marika; Snower, Dennis - Institute for the Study of Labor (IZA) - 2000

The aim of this paper is to analyze and estimate salient characteristics of unemployment dynamics. Movements in unemployment are viewed as ‘ ‘ chain reactions’’ of responses to labor market shocks, working their way through systems of interacting lagged adjustment processes. In the...

Persistent link: https://www.econbiz.de/10005703122

Identifying Adjustment Costs of Net and Gross Employment Changes

Ejarque, Joao; Nilsen, Øivind Anti - Institute for the Study of Labor (IZA) - 2008

on net or gross changes in employment. We estimate a structural model of dynamic labour demand where the firm faces … changes in employment from a panel of establishments. The main component of adjustment costs in our panel is quadratic … adjustment costs to gross changes in employment. We also estimate that adjustment costs have a large economic cost, roughly …

Persistent link: https://www.econbiz.de/10005703418

Labor Adjustment Costs in a Panel of Establishments: A Structural Approach

Ejarque, João Miguel; Portugal, Pedro - Institute for the Study of Labor (IZA) - 2007

This paper estimates a structural model of the employment decision of the firm. Our establishment level data displays … an extreme degree of rigidity in that employment levels are largely constant throughout our sample. This can be due to …

Persistent link: https://www.econbiz.de/10005703576

Adjustment Dynamics and the Natural Rate: An Account of UK Unemployment

Henry, Brian; Karanassou, Marika; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 1999

This paper challenges what is the standard account of UK unemployment, namely that the major swings in unemployment over the past 25 years are due predominantly to movements in the underlying empirical "natural rate of unemployment" (NRU). Our analysis suggests that the British NRU has remained...

Persistent link: https://www.econbiz.de/10005763790