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Dismissal Protection and Worker Flows in Small Establishments

Bauer, Thomas K.; Bender, Stefan; Bonin, Holger - Institute for the Study of Labor (IZA) - 2004

Based on a large employer-employee matched data set, the paper investigates the effects of variable enforcement of German dismissal protection legislation on the employment dynamics in small establishments. Specifically, using a difference-in-differences approach, we study the effect of changes...

Persistent link: https://www.econbiz.de/10005822158

The Return of the Long-Run Phillips Curve

Graham, Liam; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2002

-run inflation-unemployment tradeoff. …

Persistent link: https://www.econbiz.de/10005822071

Hyperbolic Discounting and the Phillips Curve

Graham, Liam; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2008

Using a standard dynamic general equilibrium model, we show that the interaction of staggered nominal contracts with hyperbolic discounting leads to inflation having significant long-run effects on real variables.

Persistent link: https://www.econbiz.de/10005763519

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 … unemployment are due, instead, to very prolonged after-effects of persistent (transitory but long-lasting) shocks. We argue that (a …

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

Hyperbolic Discounting and Positive Optimal Inflation

Graham, Liam; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2011

The Friedman rule states that steady-state welfare is maximized when there is deflation at the real rate of interest. Recent work by Khan et al (2003) uses a richer model but still finds deflation optimal. In an otherwise standard new Keynesian model we show that, if households have hyperbolic...

Persistent link: https://www.econbiz.de/10009021640

The European Phillips Curve: Does the NAIRU Exist?

Karanassou, Marika; Sala, Hector; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 2003

model, covering a panel of EU countries, and derives the implied long-run inflation-unemployment tradeoff. Our results …

Persistent link: https://www.econbiz.de/10005566739