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Unemployment in the European Union: A dynamic reappraisal

Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - Institut für Weltwirtschaft (IfW) - 2003

This paper examines the movements in EU unemployment from two perspectives: (a) the NRU/NAIRU perspective, in which … unemployment movements are attributed largely to changes in the long-run equilibrium unemployment rate and (b) the chain …-reaction perspective, in which unemployment movements are viewed as the outcome of the interplay between labor market shocks and prolonged …

Persistent link: https://www.econbiz.de/10010955891

An early warning system to predict the speculative house price bubbles

Dreger, Christian; Kholodilin, Konstantin A. - Institut für Weltwirtschaft (IfW) - 2012

In this paper, the authors construct country-specific chronologies of house price bubbles for 12 OECD countries over the period 1969:Q1-2009:Q4. These chronologies are obtained using a combination of fundamental and filter approaches. The resulting speculative bubble chronology is the one...

Persistent link: https://www.econbiz.de/10010956072

Monetary Ease: A Factor behind Financial Crises? Some Evidence from OECD Countries

Ahrend, Rudiger - Institut für Weltwirtschaft (IfW) - 2008

This paper addresses the question of whether and how easy monetary policy may lead to excesses in financial and real asset markets and ultimately result in financial dislocation. It presents evidence suggesting that periods when short-term interest rates have been persistently and significantly...

Persistent link: https://www.econbiz.de/10005059044

Housing wealth isn't wealth

Buiter, Willem H. - Institut für Weltwirtschaft (IfW) - 2009

A fall in house prices due to a change in its fundamental value redistributes wealth from those long housing (for whom the fundamental value of the house they own exceeds the present discounted value of their planned future consumption of housing services) to those short housing. In a closed...

Persistent link: https://www.econbiz.de/10008561123

Can insider power affect employment?

Díaz-Vázquez, Pilar; Snower, Dennis J. - Institut für Weltwirtschaft (IfW) - 2003

Do firms reduce employment when their insiders (established, incumbent employees) claim higher wages? The conventional answer in the theoretical literature is that insider power has no influence on employment, provided that the newly hired employees (entrants) receive their reservation wages....

Persistent link: https://www.econbiz.de/10010983128

Long-Run Determinants of Immigration to Germany 1974-1999: A Ricardian Framework

Foders, Federico - Institut für Weltwirtschaft (IfW) - 2003

effect whatsoever on labour flows to Germany in a period of rising unemployment (1974–1999), while variables representing …

Persistent link: https://www.econbiz.de/10005818842

Creative Destruction and Unemployment in an Open Economy Model

Stepanok, Ignat - Institut für Weltwirtschaft (IfW) - 2013

effect of trade liberalization between two identical economies on unemployment. I solve for two versions of the growth model … versions trade liberalization has a steady state effect on unemployment that can be either negative or positive depending on …

Persistent link: https://www.econbiz.de/10010886953

The Price-Price Phillips Curve in Small Open Economies and Monetary Unions: Theory and Empirics

Vaona, Andrea - Institut für Weltwirtschaft (IfW) - 2014

reactiveness of inflation to the unemployment rate. In regard to a monetary union, the national unemployment multiplier in the …

Persistent link: https://www.econbiz.de/10010886968

The Minimum Wage from a Two-Sided Perspective

Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis - Institut für Weltwirtschaft (IfW) - 2014

This paper sheds new light on the effects of the minimum wage on employment from a two-sided theoretical perspective, in which firms' job offer and workers' job acceptance decisions are disentangled. Minimum wages reduce job offer incentives and increase job acceptance incentives. We show that...

Persistent link: https://www.econbiz.de/10010887014

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