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Unemployment, Capital and Hours: On the quantitative performance of a DSGE
Jung, Philip - Society for Computational Economics - SCE - 2006
averse agents, capital and a labor-leisure choice has the ability to match all moments of the ac- tual US-unemployment rate … be unable to generate the observed fuctuations in unemployment rates and give the reason for their failure …
Persistent link: https://www.econbiz.de/10005342913
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In Search of the Natural Rate of Unemployment
Morley, James; King, Thomas - Society for Computational Economics - SCE - 2003
Persistent link: https://www.econbiz.de/10005345706
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Exchange rate overshooting and the costs of floating
Roubini, Nouriel; Cavallo, Michele; Kisselev, Kate - Society for Computational Economics - SCE - 2004
Currency crises are usually associated with large real depreciations. In some countries real depreciations are perceived to be very costly(''fear of floating''). In this paper we try to understand the reasons behind this fear. We first look at episodes of currency crises in the '90s and...
Persistent link: https://www.econbiz.de/10005706517
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Labor Taxation, Matching and Shocks in the New Keynesian Model
Vanhala, Juuso - Society for Computational Economics - SCE - 2006
This paper studies the implications of labor taxation in determining the sensitivity of an economy to macroeconomic shocks. We construct a New Keynesian business cycle model with matching frictions of the labor market, where sluggish employment adjustment implies a key role for labor markets in...
Persistent link: https://www.econbiz.de/10005132603
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Persistence, Propagation and On-the-Job Search
Krause, Michael; Lubik, Thomas A. - Society for Computational Economics - SCE - 2005
models of equilibrium unemployment. The model predicts fluctuations of unemployment, vacancies, and labor productivity whose …
Persistent link: https://www.econbiz.de/10005132694
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Evaluating Business Cycle Models with Labor Market Search
Hussey, Robert M. - Society for Computational Economics - SCE - 2001
specifications of the matching technology that can exaggerate the level of unemployment, making possible large employment flows in … response to business cycle shocks. Even with a more strict definition of unemployment and a less constrained flow of workers … unemployment and the volatility of output. Taxing job destruction the opposite effects. …
Persistent link: https://www.econbiz.de/10005132866
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How Should Unemployment Benefits Respond to the Business Cycle?
Kiley, Michael - Society for Computational Economics - SCE - 2002
Persistent link: https://www.econbiz.de/10005345431
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Unemployment Benefits and the Persistence of European Unemployment
Ortigueira, Salvador - Society for Computational Economics - SCE - 2003
Persistent link: https://www.econbiz.de/10005345660
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Vacancy Persistence
Fujita, Shigeru - Society for Computational Economics - SCE - 2005
This paper reevaluates the quantitative performance of the standard labor-market matching model developed by Mortensen and Pissarides with special attention to the behavior of vacancies, one of the key variables in the model. I first estimate trivariate vector autoregressions with gross worker...
Persistent link: https://www.econbiz.de/10005170561
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Employment Fluctuations with Downward Wage Rigidity
Costain, James; Jansen, Marcel - Society for Computational Economics - SCE - 2006
This paper considers a dynamic matching model with imperfectly observable worker effort as in Shapiro and Stiglitz (1994). In our economy the no-shirking condition endogenously imposes real wage rigidity on the matching market. This generates "contractual fragility" and inefficient separations...
Persistent link: https://www.econbiz.de/10005706170