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Fiscal Multipliers in a Two-Sector Search and Matching Model
Angelopoulos, Konstantinos - 2015
This paper evaluates the effects of policy interventions on sectoral labour markets and the aggregate economy in a business cycle model with search and matching frictions. We extend the canonical model by including capital-skill complementarity in production, labour markets with skilled and...
Persistent link: https://www.econbiz.de/10013028533
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Business Cycle Asymmetries and the Labor Market
Kohlbrecher, Britta - 2016
This paper shows that the matching function and the Beveridge curve in the United States exhibit strong nonlinearities over the business cycle. These patterns can be replicated by enhancing a search and matching model with idiosyncratic productivity shocks for new contacts. Large negative...
Persistent link: https://www.econbiz.de/10012994696
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The Price Puzzle Revisited : Can the Cost Channel Explain a Rise in Inflation after a Monetary Policy Shock?
Henzel, Steffen - 2013
restrictions which are not rejected by the data - the cost channel helps to generate an initial rise of inflation after a monetary …
Persistent link: https://www.econbiz.de/10012753889
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Heterogeneity in Staggered Wage Bargaining and Unemployment Volatility Puzzle
Kara, Engin - 2017
It has been noted that the search and matching model cannot account for the observed unemployment fluctuations. Gertler and Trigari (2009) show this weakness of the model disappears when wage stickiness is introduced to the model. Pissarides (2009) disagrees with this modification, arguing that...
Persistent link: https://www.econbiz.de/10012951773
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Simultaneous Search and Network Efficiency
Gautier, Pieter A. - 2011
When workers send applications to vacancies they create a network. Frictions arise if workers do not know where other workers apply to (this affects network creation) and firms do not know which candidates other firms consider (this affects network clearing). We show that those frictions and the...
Persistent link: https://www.econbiz.de/10013122129
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Does the Euro-Zone Diverge? A Stress Indicator for Analyzing Trends and Cycles in Real GDP and Inflation
Flaig, Gebhard; Wollmershaeuser, Timo - 2021
This paper presents a stress indicator for the eurozone that summarizes developments of trends and cycles in real GDP … and inflation in the member countries. Stress in a country is defined as the difference between the country's actual short … that stress in the eurozone is mainly due to different trend growth rates and that for most of the Euro-zone countries …
Persistent link: https://www.econbiz.de/10013317182
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Capacity Constraining Labor Market Frictions in a Global Economy
Holzner, Christian - 2011
Convex vacancy creation costs shape firms' responses to trade liberalization. They induce capacity constraints by increasing firms' cost of production, leading a profit maximizing firm not to fully meet the increased foreign demand. Hence, firms will only serve a few export markets. More...
Persistent link: https://www.econbiz.de/10013119834
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The Distributional Consequences of Tax Reforms Under Market Distortions
Angelopoulos, Konstantinos; Jiang, Wei; Malley, James R. - 2021
improving in the long run. Consistent with the theory of second-best, the two distortions in this context work to correct the …
Persistent link: https://www.econbiz.de/10013315966
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Unemployment and Endogenous Reallocation Over the Business Cycle
Carrillo-Tudela, Carlos - 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/10013087720
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A Competitive Model of Worker Replacement and Wage Rigidity
Snell, Andy - 2014
We adapt the models of Menzio and Moen (2010) and Snell and Thomas (2010) to consider a labour market in which firms can commit to wage contracts but cannot commit not to replace incumbent workers. Workers are risk averse, so that there exists an incentive for firms to smooth wages. Real wages...
Persistent link: https://www.econbiz.de/10013058504