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Selective hiring and welfare analysis in labor market models

Merkl, Christian; Rens, Thijs van - 2012

predictions of the model change very little, but the welfare costs of unemployment are much larger because unemployment risk is … distributed unequally across workers. As a result, optimal unemployment insurance may be higher and welfare is lower if hiring is … selective. -- Labor market models ; welfare ; optimal unemployment insurance …

Persistent link: https://www.econbiz.de/10009425519

Macroeconomic volatilities and the labor market : first results from the euro experiment

Merkl, Christian; Schmitz, Tom - 2009

. We use a New Keynesian model with unemployment to predict the effects of different labor market institutions on … ; macroeconomic volatility ; monetary policy ; firing costs ; unemployment benefits ; replacement rate …

Persistent link: https://www.econbiz.de/10003827228

Efficiency and labor market dynamics in a model of labor selection

Chugh, Sanjay K.; Merkl, Christian - 2011

labor markets. In a calibrated version of the model, efficient fluctuations feature highly volatile unemployment and job …

Persistent link: https://www.econbiz.de/10008842228

They are even larger! : More (on) puzzling labor market volatilities

Gartner, Hermann; Merkl, Christian; Rothe, Thomas - 2009

German labor market volatilities by a longer expected job duration. -- Labor Market Volatilities ; Unemployment ; Worker …

Persistent link: https://www.econbiz.de/10003825019

Real wage rigidities and the cost of disinflations : a comment on Blanchard and Galí

Ascari, Guido (contributor); Merkl, Christian (contributor) - 2007

This paper analyzes the cost of disinflation under real wage rigidities in a micro-founded New Keynesian model. Unlike Blanchard and Galí (2007) who carried out a similar analysis in a linearized framework, we take non-linearities into account. We show that the results change dramatically, both...

Persistent link: https://www.econbiz.de/10003411665

The inflation-output tradeoff : which type of labor market rigidity is to be blamed?

Merkl, Christian - 2009

real wage rigidities. -- Monetary policy ; real wage rigidity ; labor turnover costs ; unemployment ; tradeoff …

Persistent link: https://www.econbiz.de/10003826554

Fiscal multipliers and the labour market in the open economy

Faia, Ester; Lechthaler, Wolfgang; Merkl, Christian - 2010

Several contributions have recently assessed the size of fiscal multipliers both in RBC models and New Keynesian models. None of the studies considers a model with frictional labour markets which is a crucial element, particularly at times in which much of the fiscal stimulus has been directed...

Persistent link: https://www.econbiz.de/10003932607

Optimal fiscal policy with labor selection

Chugh, Sanjay K.; Lechthaler, Wolfgang; Merkl, Christian - 2016

This paper characterizes long-run and short-run optimal fiscal policy in the labor selection framework. In a calibrated non-Ramsey decentralized equilibrium, labor market volatility is inefficient. Keeping fixed the structural parameters, the Ramsey government achieves efficient labor market...

Persistent link: https://www.econbiz.de/10011434257

An incentive theory of matching

Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - 2010 - [This version]: May 2010

Persistent link: https://www.econbiz.de/10008908097

An incentive theory of matching

Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - 2009

empirical regularities that the conventional matching model cannot. -- Matching ; incentives ; adjustment costs ; unemployment …

Persistent link: https://www.econbiz.de/10003827234