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Wage and Employment Cyclicalities at the Establishment Level
Merkl, Christian; Stueber, Heiko - 2021
We document substantial cross-sectional heterogeneity of German establishments’ real wage cyclicality over the business … wages. We estimate a negative connection between establishments’ wage cyclicality and their employment cyclicality, thereby …
Persistent link: https://www.econbiz.de/10013212779
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Endogenous Growth, Downward Wage Rigidities and Optimal Inflation
Abbritti, Mirko; Consolo, Agostino; Weber, Sebastian - 2022
, endogenous productivity and downward wage rigidity (DWR) which challenges these results. The model features a non-vertical long …
Persistent link: https://www.econbiz.de/10013306762
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Sectoral Okun's Law and Cross-Country Cyclical Differences
Goto, Eiji - 2020
We estimate Okun's law, the negative relationship between output and the unemployment rate, at the sector level for the US, the UK, Japan, and Switzerland to test several hypotheses that may explain why the aggregate Okun's coeffcients are different across countries. Specifically, we show that...
Persistent link: https://www.econbiz.de/10012841145
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Firm Leverage and Boom-Bust Cycles
Sever, Can - 2023
This paper explores the dynamic relationship between firm debt and real outcomes using data from 24 European economies over the period of 2000-2018. Based on macro data, it shows that a rise in credit to firms is associated with an increase in employment growth in the short-term, but employment...
Persistent link: https://www.econbiz.de/10014353733
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Short-Time Work Subsidies in a Matching Model
Meier, Volker - 2019
labor demand. Tightening eligibility to short-time work benefits tends to reduce the wage while the impact on unemployment …
Persistent link: https://www.econbiz.de/10012892292
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An Efficiency-Wage Model with Habit Concerns About Wages
Goerke, Laszlo - 2020
We analyse the implications of habit formation relating to wages in a multi-period efficiency-wage model. If employees …. Greater intensity does not necessarily have the same consequences, because wage adjustments counteract the initial level … impact. The firm's response additionally depends on the wage-dependency of dismissal costs since such costs make an …
Persistent link: https://www.econbiz.de/10012828115
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Evaluating Unemployment Policies : What Do the Underlying Theories Tell Us?
Snower, Dennis J. - 2006
The paper surveys unemployment policies for advanced market economies and evaluates them by examining the predictions of the underlying macroeconomic theories. The basic idea is that, for the most part, different unemployment policy prescriptions rest on different macroeconomic theories, and our...
Persistent link: https://www.econbiz.de/10012781938
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The Low-Skill, Bad-Job Trap
Snower, Dennis J. - 2008
The paper explains how a country can fall into a quot;low-skill, bad-job trap,quot; in which workers acquire insufficient training and firms provide insufficient skilled vacancies. In particular, the paper argues that in countries where a large proportion of the workforce is unskilled, firms...
Persistent link: https://www.econbiz.de/10012774282
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Which Ladder to Climb? Decomposing Life Cycle Wage Dynamics
Bayer, Christian - 2019
, search for employers, and residual wage shocks to account for these life cycle wage dynamics. We highlight the importance of … largest part of life cycle wage dynamics. It accounts for 50% of average wage growth, 50% of rising differences between gender …
Persistent link: https://www.econbiz.de/10012897647
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Wages, Skills, and Skill-Biased Technical Change : The Canonical Model Revisited
Bowlus, Audra; Robinson, M. Chris; Lochner, Lance; … - 2021
The canonical supply-demand model of the wage returns to skill has been extremely influential; however, it has faced …
Persistent link: https://www.econbiz.de/10013217553