Showing 1 - 10 of 48
Persistent link: https://www.econbiz.de/10013428556
We introduce two types of effort into an otherwise standard labor search model to examine indeterminacy and sunspot equilibria. Variable labor effort gives rise to increasing returns to hours in production. This makes workers more valuable and contributes to self-fulfilling profit expectations,...
Persistent link: https://www.econbiz.de/10012062385
This paper analyzes the dynamic effects of different macroeconomic shocks on unemployment in Germany. In a first step …, a cointegration analysis of productivity, prices, real wages, employment, and the unemployment rate reveals two long run … display that price, demand, and labor supply shocks affect unemployment significantly in the short/medium run. Interestingly …
Persistent link: https://www.econbiz.de/10013428423
Using a structural life-cycle model, we quantify the long-term impact of school closures during the Corona crisis on children affected at different ages and coming from households with different parental characteristics. In the model, public investment through schooling is combined with parental...
Persistent link: https://www.econbiz.de/10012287976
Persistent link: https://www.econbiz.de/10012821407
Persistent link: https://www.econbiz.de/10008736572
Persistent link: https://www.econbiz.de/10003385168
The standard New Keynesian model suffers from the so-called .macro-micro pricing conflict: in order to match the dynamics of inflation implied by macroeconomic data, the model needs to assume an average duration of price contracts which is much longer than what is observed in micro data. Here I...
Persistent link: https://www.econbiz.de/10003546364
Persistent link: https://www.econbiz.de/10003519937
Persistent link: https://www.econbiz.de/10003514689