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economic outcomes. The question is whether higher transparency comes at some cost, i.e. higher unemployment or higher … unemployment variability. Firstly, the article shows in a theoretical model that opaqueness regarding the central bank …’s preferences does not necessarily lead to lower unemployment. Secondly, the paper analyses the main theoretical results of other …
Persistent link: https://www.econbiz.de/10011705413
; equilibrium unemployment ; inflation target ; Phillips curve ; Lucas critique ; Germany …
Persistent link: https://www.econbiz.de/10009746167
Uncertainty shocks are found to adversely affect labor market outcomes. Most studies attribute labor adjustments costs for the propagation of macroeconomic uncertainty to the labor market. Given that large establishments in Germany face higher labor adjustments cost, they should be affected more...
Persistent link: https://www.econbiz.de/10012614112
This paper exploits several reforms of wage subsidies in the framework of the German Minijob program to investigate substitution and complementarity relationships between subsidized and non-subsidized labor demand. We apply an instrumental variables approach and use administrative data on German...
Persistent link: https://www.econbiz.de/10012172412
In this paper, I argue that there is an inefficiently high number of job creators in a model with labour market imperfections and an endogenous decision to become a job creator. I therefore augment the standard labour matching model developed by Mortensen and Pissarides by an endogenous job...
Persistent link: https://www.econbiz.de/10012533158
The increase in central bank transparency was one of the main developments in central banking in the last two decades. This leads to the question of which effect central bank transparency has on the volatility of exchange rates. According to theoretical considerations, more information could...
Persistent link: https://www.econbiz.de/10011722975
This paper quantifies the surprisingly large heterogeneity of real income and employment effects across German counties in response to local productivity shocks. Using a quantitative model with imperfect mobility and sector-specific labor market frictions together with an outstanding data set of...
Persistent link: https://www.econbiz.de/10011936726
unemployment on child labor market and education outcomes. We first describe correlation patterns and then use sibling fixed … effects and the Gottschalk (1996) method to identify the causal effects of paternal unemployment. We find different patterns … for sons and daughters. Paternal unemployment does not seem to causally affect the outcomes of sons. In contrast, it …
Persistent link: https://www.econbiz.de/10010428745
market outcomes do not benefit significantly from naturalization. Naturalization reduces the risks of unemployment and …
Persistent link: https://www.econbiz.de/10011899228
The empirical literature on unemployment almost exclusively focuses on the duration of distinct unemployment spells. In … unemployment (defined as the total length of all unemployment spells over a 25-year period). This new perspective enables us to … answer questions regarding the longterm distribution and determinants of unemployment for West German birth cohorts 1950 …
Persistent link: https://www.econbiz.de/10003945565