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Nominal wage rigidity and the rate of inflation

Nickell, Stephen; Quintini, Glenda - London School of Economics (LSE) - 2001

inflation is low. Despite the substantial numbers of individuals whose nominal wages fall from one year to the next, we find … that if long-run inflation is one percent higher, the number of individuals with negative real pay growth increases by …

Persistent link: https://www.econbiz.de/10010746590

Evaluating the economic significance of downward nominal wage rigidity

Elsby, Michael W. L. - London School of Economics (LSE) - 2005

This paper seeks to contribute to the literature on downward nominal wage rigidity (DNWR) along two dimensions. First, we formulate and solve an explicit model of wage-setting in the presence of worker resistance to nominal wage cuts - something that has previously been considered intractable....

Persistent link: https://www.econbiz.de/10010746448

Unemployment clusters across European regions and countries

Overman, Henry G.; Puga, Diego - London School of Economics (LSE) - 1999

European regions have experienced a polarisation of their unemployment rates between 1986 and 1996, as regions with …

Persistent link: https://www.econbiz.de/10010884644

A test between unemployment theories using matching data

Coles, Melvyn; Petrongolo, Barbara - London School of Economics (LSE) - 2003

This paper tests whether aggregate matching is consistent with unemployment being mainly due to search frictions or due … with reference to the design of optimal unemployment insurance programs. …

Persistent link: https://www.econbiz.de/10010928750

Creative destruction with on-the-job search

Michau, Jean-Baptiste - London School of Economics (LSE) - 2007

allowing on-the-job search. We obtain that the elasticity of unemployment with respect to growth shrinks from 1.63 to 0 … search process than the unemployed. Thus, we show that, rather than contributing to unemployment, creative destruction …

Persistent link: https://www.econbiz.de/10010744813

The Beveridge curve

Yashiv, Eran - London School of Economics (LSE) - 2007

. The Beveridge curve depicts the steady state of the model, whereby inflows into unemployment are equal to the outflows …

Persistent link: https://www.econbiz.de/10010744873

Unemployment dynamics with international capital mobility

Azariadis, Costas; Pissarides, Christopher - London School of Economics (LSE) - 2007

We study the response of domestic unemployment rates to shocks in total factor productivity for economies with high … by developed nations in the last twenty years, substantially amplify the impact on the domestic unemployment rate of …

Persistent link: https://www.econbiz.de/10010744954

A theory of countercyclical government multiplier

Michaillat, Pascal - London School of Economics (LSE) - 2012

I develop a New Keynesian model in which a type of government multiplier doubles when unemployment rises from 5 percent … unemployment is high, the increase in tightness and resulting crowding-out are small. …

Persistent link: https://www.econbiz.de/10010745284

Resurrecting the participation margin

Ebell, Monique - London School of Economics (LSE) - 2008

procyclical unemployment and a positively-sloped Beveridge curve. This paper presents a calibrated model which does indeed … generate countercyclical unemployment and a negatively-sloped Beveridge curve despite the presence of a participation margin. …

Persistent link: https://www.econbiz.de/10010745347

Short job tenures and firing taxes in the search theory of unemployment

Gkionakis, Vasileios - London School of Economics (LSE) - 2004

This paper studies the effects of firing taxes on the job destruction rate, when probation period - or temporary contract - policies are implemented in an otherwise exogenous job separation search model. It is shown that contrary to conventional wisdom, firing taxes can amplify the job turnover...

Persistent link: https://www.econbiz.de/10010745906

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