Narrow search
Showing 1 - 10 of 91
Cover Image
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
Cover Image
Equilibrium unemployment with outsourcing and wage solidarity under labour market imperfections
Koskela, Erkki; Stenbacka, Rune - 2007
We evaluate the effects of outsourcing and wage solidarity on wage formation and equilibrium unemployment in a … heterogeneous labour market, where wages are determined by a monopoly labour union. We find that outsourcing promotes the wage … dispersion between the high-skilled and low-skilled workers. When the labour union adopts a solidaristic wage policy, it will …
Persistent link: https://www.econbiz.de/10010264123
Cover Image
Outsourcing and labor taxation in dual labor markets
Koskela, Erkki; Poutvaara, Panu - 2008
We evaluate the effects of international outsourcing and labor taxation on wage formation and equilibrium unemployment … in dual labor markets. Outsourcing promotes wage dispersion between the high-skilled and low-skilled workers. Higher … domestic low-skilled wage tax, higher payroll tax and lower wage tax exemption increase optimal outsourcing. Outsourcing will …
Persistent link: https://www.econbiz.de/10010264385
Cover Image
Education, Lack of Complementary Investment and Underemployment in an Open Economy
Marjit, Sugata; Ahuja, Rashmi; Pandey, Abhilasha - 2021
sector and an informal sector which absorbs unemployed workers at a flexible wage rate. In this set up greater education for …
Persistent link: https://www.econbiz.de/10013213779
Cover Image
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
Cover Image
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
Cover Image
Unemployment and Endogenous Reallocation Over the Business Cycle
Carrillo-Tudela, Carlos - 2020
This paper studies the extent to which the cyclicality of gross and net occupational mobility shapes that of aggregate unemployment and its duration distribution. Using the SIPP, we document the relation between workers' (gross and net) occupational mobility and unemployment duration over the...
Persistent link: https://www.econbiz.de/10012833736
Cover Image
Heterogeneous Expectations, Indeterminacy, and Postwar US Business Cycles
Ilabaca, Francisco - 2020
This paper estimates a New Keynesian model extended to include heterogeneous expectations, to revisit the evidence that postwar US macroeconomic data can be explained as the outcome of passive monetary policy, indeterminacy, and sunspot-driven fluctuations in the pre-1979 sample, with a switch...
Persistent link: https://www.econbiz.de/10012836715
Cover Image
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
Cover Image
Micro Jumps, Macro Humps : Monetary Policy and Business Cycles in an Estimated Hank Model
Auclert, Adrien - 2020
We estimate a Heterogeneous-Agent New Keynesian model with sticky household expectations that matches existing microeconomic evidence on marginal propensities to consume and macroeconomic evidence on the impulse response to a monetary policy shock. Our estimated model uncovers a central role for...
Persistent link: https://www.econbiz.de/10012842965