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Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis - Institut für Weltwirtschaft (IfW) - 2009

This paper presents a theory explaining the labor market matching process through microeconomic incentives. There are … quit decisions. This approach obviates the need for a matching function. On this theoretical basis, we argue that the … matching function is vulnerable to the Lucas critique. Our calibrated model for the U.S. economy can account for important …

Persistent link: https://www.econbiz.de/10004992848

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

The aggregate effects of long run sectoral reallocation

Reicher, Claire - Institut für Weltwirtschaft (IfW) - 2014

The construction bust which accompanied the Great Recession, and the accompanying need to shift workers across sectors, have provoked a discussion about mismatch and the Beveridge Curve, alongside a discussion about firm-level dispersion. These discussions echo an ongoing discussion about the...

Persistent link: https://www.econbiz.de/10010887017

An Incentive Theory of Matching

Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - Institut für Weltwirtschaft (IfW) - 2010

This paper examines the labour market matching process by distinguishing its two component stages: the contact stage … account for important empirical regularities that the conventional matching model cannot. …

Persistent link: https://www.econbiz.de/10010955922

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

Incentives and Complementarities of Flexicurity

Brown, Alessio J. G.; Snower, Dennis - Institut für Weltwirtschaft (IfW) - 2009

This paper analyses how and to which degree the Danish flexicurity concept and its various elements achieve the renowned Danish miracle by evaluating their unemployment and inequality effects and their complementarities. We develop a microfounded model of searching workers and firms, calibrate...

Persistent link: https://www.econbiz.de/10005079106

A tale of two countries: A comparison of the aggregate effects of sectoral reallocation in the United States and Germany

Reicher, Christopher - Institut für Weltwirtschaft (IfW) - 2011

This paper compares the aggregate effects of sectoral reallocation in the United States and Western Germany using a stochastic volatility model of sectoral employment growth. Reallocative shocks have no effect on the natural rate of unemployment in either country, and there is mild evidence that...

Persistent link: https://www.econbiz.de/10009216276

The aggregate effects of long run sectoral reallocation

Reicher, Christopher - Institut für Weltwirtschaft (IfW) - 2011

In this paper, I estimate a series of long run reallocative shocks to sectoral employment using a stochastic volatility model of sectoral employment growth for the United States from 1960 through 2011. Reallocative shocks (which primarily measure construction and technology busts) have little...

Persistent link: https://www.econbiz.de/10009216281

The Inflation-Output Tradeoff: Which Type of Labor Market Rigidity Is to Be Blamed?

Merkl, Christian - Institut für Weltwirtschaft (IfW) - 2009

In the standard New Keynesian sticky price model the central bank faces no contradiction between the stabilization of inflation and the stabilization of the welfare relevant output gap after a productivity shock hits the economy. When the standard model is enhanced by real wage rigidities or...

Persistent link: https://www.econbiz.de/10005566197

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