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Skill-Biased Technological Change and the Business Cycle

Balleer, Almut; Rens, Thijs van - Institut für Weltwirtschaft (IfW) - 2012

Over the past two decades, technological progress in the United States has been biased towards skilled labor. What does this imply for business cycles? We construct a quarterly skill premium from the CPS and use it to identify skill-biased technology shocks in a VAR with long-run restrictions....

Persistent link: https://www.econbiz.de/10010886889

Wage Rigidity and Job Creation

Haefke, Christian; Sonntag, Marcus; Rens, Thijs van - Institut für Weltwirtschaft (IfW) - 2009

Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume wages are rigid. We explore whether this explanation is consistent with the data. We show that the wage of newly hired workers, unlike the aggregate wage, is volatile and...

Persistent link: https://www.econbiz.de/10005700599

A Simple Model of Outsourcing with Cournot Competition

Hübler, Michael - Institut für Weltwirtschaft (IfW) - 2007

The paper analyses a partial equilibrium outsourcing model with Cournot competition in intermediate good production …. Final production is located in western Europe, whereas the intermediate good can be manufactured by a western (outsourcing …) or eastern European supplier (offshore outsourcing). Interregional production (factor) allocation depending on factor …

Persistent link: https://www.econbiz.de/10005755219

The Labor Market Effects of Outsourcing Parts and Components: Adverse Cournot Competition

Hübler, Michael - Institut für Weltwirtschaft (IfW) - 2009

This paper contributes to Hübler (2008) who analyses a partial equilibrium model of outsourcing with Cournot … manufactured by a Western (outsourcing) or Eastern European supplier (offshore outsourcing). The paper asks the question how …

Persistent link: https://www.econbiz.de/10008559253

Evaluating the performance of the search and matching model with sticky wages

Reicher, Christopher - Institut für Weltwirtschaft (IfW) - 2010

Several authors have proposed staggered wage bargaining as a way to introduce sticky wages into search and matching models while preserving individual rationality. I evaluate the quantitative implications of such an approach. I feed through a series of estimated shocks from US data into a search...

Persistent link: https://www.econbiz.de/10009021626

Wage cyclicality under different regimes of industrial relations

Gartner, Hermann; Schenk, Thorsten; Schnabel, Claus - Institut für Weltwirtschaft (IfW) - 2010

Since there is scant evidence on the role of industrial relations in wage cyclicality, this paper analyzes the effect of collective wage contracts and of works councils on real wage growth. Using linked employer-employee data for western Germany, we find that works councils affect wage growth...

Persistent link: https://www.econbiz.de/10008694070

A Note on Banking and Housing Crises and the Strength of Recoveries

Boysen-Hogrefe, Jens; Jannsen, Nils; Meier, Carsten-Patrick - Institut für Weltwirtschaft (IfW) - 2015

We investigate whether recoveries following normal recessions differ from recoveries following recessions that are associated with either banking crises or housing crises. Using a parametric panel framework that allows for a bounce-back in the level of output during the recovery, we find that...

Persistent link: https://www.econbiz.de/10011141148

Unemployment benefits and financial factors in an agent-based macroeconomic model

Riccetti, Luca; Russo, Alberto; Gallegati, Mauro - Institut für Weltwirtschaft (IfW) - 2013

This paper is aimed at investigating the effects of government intervention through unemployment benefits on macroeconomic dynamics in an agent-based decentralized matching framework. The major result is that the presence of such a public intervention in the economy stabilizes the aggregate...

Persistent link: https://www.econbiz.de/10010956079

Sequential Methodology for Signaling Business Cycle Turning Points

Golosnoy, Vasyl; Hogrefe, Jens - Institut für Weltwirtschaft (IfW) - 2009

The dates of U.S. business cycle are reported by NBER with a considerable delay, so an early notion of turning points is of particular interest. This paper proposes a novel sequential approach designed for timely signaling these turning points. A directional cumulated sum decision rule is...

Persistent link: https://www.econbiz.de/10005079108

Assessing the Effects of the Terrorist Attacks on the U.S. Economy

Strauß, Hubert - Institut für Weltwirtschaft (IfW) - 2001

The terrorist attacks of September 11 have challenged the view that the U.S. economy is on the brink of recovery. This article discusses the effects of the attacks on real GDP taking the Kiel InstituteÂ’s forecast of September 10 as the baseline scenario. The focus is on assessing the direct...

Persistent link: https://www.econbiz.de/10005818792