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Do firms provide wage insurance against shocks? : evidence from Hungary
Kátay, Gábor - 2008
. Using matched employer-employee dataset, I adopted the estimation strategy proposed by Guiso et al. (2005) to evaluate wage … Portuguese datasets. I found that firms do insure workers against product market uncertainties, but the magnitude of the wage … response differs depending on the nature of the shock. Broadly speaking, the wage response to permanent shocks is twice as high …
Persistent link: https://www.econbiz.de/10003825822
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Equilibrium unemployment, job flows and inflation dynamics
Trigari, Antonella - 2004
In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price rigidities. Then, it estimates a set of structural parameters...
Persistent link: https://www.econbiz.de/10009636527
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Firms' reactions to the crisis and their consequences for the labour market : results of a company survey conducted in Austria
Kwapil, Claudia - 2010
economically calm times, wage reductions continued to be the exception rather than the rule. This indicates the existence of … nominal wage rigidities in Austria. Instead of wage cuts, firms preferred to reduce working hours and to dismiss employees. We … not influence the likelihood of dismissals. - Wage Rigidity ; Demand Shock ; Micro Survey Data …
Persistent link: https://www.econbiz.de/10008746575
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Endogenous growth, downward wage rigidity and optimal inflation
Abbritti, Mirko; Consolo, Agostino; Weber, Sebastian - 2021
, endogenous productivity and downward wage rigidity (DWR) which challenges these results. The model features a non-vertical long …
Persistent link: https://www.econbiz.de/10012745355
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Productivity and job flows : heterogeneity of new hires and continuing jobs in the business cycle
Kilponen, Juha; Vanhala, Juuso - 2009
model driven stickiness of old jobs' wages which does not rely on ad hoc assumptions on wage rigidity. In our model, an … need to rely on differing wage setting mechanisms of new and continuing jobs. Price rigidities do not alter the basic …
Persistent link: https://www.econbiz.de/10003963735
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Macroeconomic Shocks and Racial Labour Market Differences in the U.S
De, Kuhelika - 2020
Using 136 United States macroeconomic indicators from 1973 to 2017, and a factor augmented vector autoregression (FAVAR) framework with sign restrictions, we investigate the effects of three structural macroeconomic shocks - monetary, demand, and supply - on the labour market outcomes of black...
Persistent link: https://www.econbiz.de/10012844419
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Distributional Effects of Macroeconomic Shocks in Real-Time : A Novel Method Applied to the COVID-19 Crisis in Germany
Bruckmeier, Kerstin; Peichl, Andreas; Popp, Martin; … - 2021
The highly dynamic nature of the COVID-19 crisis poses an unprecedented challenge to policy makers around the world to take appropriate income-stabilizing countermeasures. To properly design such policy measures, it is important to quantify their effects in real-time. However, data on the...
Persistent link: https://www.econbiz.de/10013250264
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Assessing portfolio credit risk changes in a sample of EU large and complex banking groups in reaction to macroeconomic shocks
Castrén, Olli; Fitzpatrick, Trevor; Sydow, Matthias - 2009
In terms of regulatory and economic capital, credit risk is the most significant risk faced by banks. We implement a credit risk model - based on publicly available information . with the aim of developing a tool to monitor credit risk in a sample of large and complex banking groups (LCBGs) in...
Persistent link: https://www.econbiz.de/10003831692
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Shocks, Frictions, and Inequality in US Business Cycles
Bayer, Christian - 2020
How much does inequality matter for the business cycle and vice versa? Using a Bayesian likelihood approach, we estimate a heterogeneous-agent New-Keynesian (HANK) model with incomplete markets and portfolio choice between liquid and illiquid assets. The model enlarges the set of shocks and...
Persistent link: https://www.econbiz.de/10012841741
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Uncertainty and Monetary Policy in Good and Bad Times : A Replication of the VAR Investigation by Bloom (2009)
Caggiano, Giovanni - 2020
This paper revisits the well-known VAR evidence on the real effects of uncertainty shocks by Bloom (Econometrica 2009(3): 623-685. doi: 10.3982/ECTA6248). We replicate the results in a narrow sense using Eviews. In a wide sense, we extend his study by working with a smooth transition-VAR...
Persistent link: https://www.econbiz.de/10012824829