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Investment Crowding-Out and Labor Market Effects of Financialization in the U.S.
González, Ignacio; Sala, Hector - Institute for the Study of Labor (IZA) - 2013
This paper studies the impact of financialization on unemployment in the U.S. We estimate a dynamic multi …-equation macro labor model including labor demand, labor supply, wage-setting and capital accumulation equations. Financialization … swings experienced by the financialization process. We find that it has had relevant unemployment effects in all periods …
Persistent link: https://www.econbiz.de/10010959689
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The European Youth Guarantee: Labor Market Context, Conditions and Opportunities in Italy
Pastore, Francesco - Institute for the Study of Labor (IZA) - 2015
This essay aims to discuss the conditions for a successful implementation of the European Youth Guarantee in Italy. In principle, the program should be able to affect the frictional and mismatch components of unemployment, if not the Keynesian and neoclassical ones, as also the experience of...
Persistent link: https://www.econbiz.de/10011212561
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Assessing the Impact of Incomes Policy: The Italian Experience
Pastore, Francesco - Institute for the Study of Labor (IZA) - 2010
The Saint Valentine's decree (1984) and the ensuing hard fought referendum (1985), which reduced the automatisms of scala mobile, started a process of redefinition of wage fixing in Italy, which culminated with the final abolition of scala mobile (1992) and the approval of Protocollo d'intesa...
Persistent link: https://www.econbiz.de/10008548711
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Search Frictions on Product and Labor Markets: Money in the Matching Function
Lehmann, Etienne; Linden, Bruno Van der - Institute for the Study of Labor (IZA) - 2007
This paper builds a macroeconomic model of equilibrium unemployment in which firms persistently face difficulties in selling their production and this affects their decisions to create jobs. Due to search-frictions on the product market, equilibrium unemployment is a U-shaped function of the...
Persistent link: https://www.econbiz.de/10005700844
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Price Dynamics and Production Lags
Lindbeck, Assar; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 1999
This paper provides a new explanation of why inflation is sluggish in response to aggregate demand shocks and why aggregate output changes as result of such shocks. We argue that these phenomena are related to lags between inputs and outputs in the production process, "production lags" for...
Persistent link: https://www.econbiz.de/10005702997
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A Steady-State Model of a Non-Walrasian Economy with Three Imperfect Markets
Wasmer, Etienne - Institute for the Study of Labor (IZA) - 2011
Unemployment may depend on equilibrium in other markets than the labor markets. This paper adresses this old idea by introducing search frictions on several markets: in a model of credit and labor market imperfections as in Wasmer and Weil (2004), I further introduce search on the goods market....
Persistent link: https://www.econbiz.de/10009149149
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Macroeconomic Dynamics in a Model of Goods, Labor and Credit Market Frictions
Petrosky-Nadeau, Nicolas; Wasmer, Etienne - Institute for the Study of Labor (IZA) - 2011
Building a model with three imperfect markets – goods, labor and credit – representing a product's life-cycle, we find that goods market frictions drastically change the qualitative and quantitative dynamics of labor market variables. The calibrated model leads to a significant reduction in...
Persistent link: https://www.econbiz.de/10009149160
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Legal Corruption, Politically Connected Corporate Governance and Firm Performance
Domadenik, Polona; Prašnikar, Janez; Svejnar, Jan - Institute for the Study of Labor (IZA) - 2014
In this paper we present and test a theory of how political corruption, found in many transition and emerging market economies, affects corporate governance and productive efficiency of firms. Our model predicts that underdeveloped democratic institutions that do not punish political corruption...
Persistent link: https://www.econbiz.de/10010884312
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Determinants and Policy Simulation of Firms Cooperation in Innovation
Heshmati, Almas; Lenz-Cesar, Flávio - Institute for the Study of Labor (IZA) - 2013
This research introduces an agent-based simulation model representing the dynamic processes of cooperative R&D in the manufacturing sector of South Korea. Firms' behavior is defined according to empirical findings on the Korean Innovation Survey 2005 and captured in a multivariate probit...
Persistent link: https://www.econbiz.de/10010884320
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Regulation, Trust, and Cronyism in Middle Eastern Societies: The Simple Economics of 'Wasta'
Barnett, Andy; Yandle, Bruce; Naufal, George S - Institute for the Study of Labor (IZA) - 2013
Despite being a fixture of everyday life in the Arab world, wasta, which may be thought of as special influence by members of the same group or tribe, has received little attention from social scientists. Our casual empiricism suggests that wasta is an important determinant of how economic...
Persistent link: https://www.econbiz.de/10010959531