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Unemployment and endogenous reallocation over the business cycle

Carrillo-Tudela, Carlos; Visschers, Ludo - 2013

We build an analytically and computationally tractable stochastic equilibrium model of unemployment in heterogeneous labor markets. Facing search frictions within markets and reallocation frictions between markets, workers endogenously separate from employment and endogenously reallocate between...

Persistent link: https://www.econbiz.de/10010291522

The effects of monetary policy on unemployment dynamics under model uncertainty: evidence from the US and the Euro area

Altavilla, Carlo; Ciccarelli, Matteo - 2009

This paper explores the role that the imperfect knowledge of the structure of the economy plays in the uncertainty surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian model averaging procedure on a wide range of models...

Persistent link: https://www.econbiz.de/10010264579

Sorting and the output loss due to search frictions

Gautier, Pieter A.; Teulings, Coen N. - 2011

max-mean wage differential. The latter measure of wage dispersion is more robust than measures based on the reservation … wage, due to the long left tail of the wage distribution. We estimate this wage differential using data on match quality … and allow for measurement error. The estimated wage dispersion and mismatch for the US is consistent with an unemployment …

Persistent link: https://www.econbiz.de/10010274790

Time variation in U.S. wage dynamics

Hofmann, Boris; Peersman, Gert; Straub, Roland - 2010

as well as real and nominal wages. The results indicate considerable time variation in U.S. wage dynamics that can be …', technology shocks in contrast triggered wage-price spirals, moving nominal wages and prices in the same direction at longer … magnitudes, can only be explained by assuming a high degree of wage indexation in conjunction with a weak reaction of monetary …

Persistent link: https://www.econbiz.de/10010274983

Rhineland exit?

Bovenberg, Lans; Teulings, Coen N. - 2008

first-best outcome, while Portugal and the United States deviate in different ways. Coordination in wage bargaining and …

Persistent link: https://www.econbiz.de/10010276828

Persistence and cycles in US hours worked

Caporale, Guglielmo Maria; Gil-Alana, Luis A. - 2012

This paper analyses monthly hours worked in the US over the sample period 1939m1 - 2011m10 using a cyclical long memory model; this is based on Gegenbauer processes and characterised by autocorrelations decaying to zero cyclically and at a hyperbolic rate along with a spectral density that is...

Persistent link: https://www.econbiz.de/10010281793

Why go to France or Germany, if you could as well go to the UK or the US?: selective features of immigration to four major OECD countries

Geis, Wido; Uebelmesser, Silke; Werding, Martin - 2008

Building on a new data set which is combined from national micro-data bases, we highlight differences in the structure of migrants to four countries, viz. France, Germany, the UK and the US, which receive a substantial share of all immigrants to the OECD world. Looking at immigrants by source...

Persistent link: https://www.econbiz.de/10010264459

How do migrants choose their destination country?: an analysis of institutional determinants

Geis, Wido; Uebelmesser, Silke; Werding, Martin - 2008

For a long time, migration has been subject to intensive economic research. Nevertheless, empirical evidence regarding the determinants of migration still appears to be incomplete. In this paper, we analyze the effects of socio-economic and institutional determinants, especially labor-market...

Persistent link: https://www.econbiz.de/10010264522

The consumption value of higher education

Alstadsæter, Annette; Sievertsen, Hans Henrik - 2009

The consumption value of higher education is an important factor behind the individual’s educational choice. We provide a comprehensive literature survey, and define the consumption value as the private, intended, non-pecuniary return to higher education. We provide new empirical evidence for...

Persistent link: https://www.econbiz.de/10010266028

Spatial sorting: Why New York, Los Angeles and Detroit Attract the greatest minds as well as the unskilled

Eeckhout, Jan; Pinheiro, Roberto; Schmidheiny, Kurt - 2010

We propose a theory of skill mobility across cities. It predicts the well documented city size-wage premium: the wage …

Persistent link: https://www.econbiz.de/10010274949