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Families in macroeconomics
Doepke, Matthias; Tertilt, Michele - 2016
Much of macroeconomics is concerned with the allocation of physical capital, human capital, and labor over time and across people. The decisions on savings, education, and labor supply that generate these variables are made within families. Yet the family (and decision-making in families) is...
Persistent link: https://www.econbiz.de/10011454407
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Macroeconomic determinants of retirement timing
Gorodnichenko, Yuriy; Song, Jae; Stolyarov, Dmitriy - 2013
We analyze lifetime earnings histories of white males during 1960-2010 and categorize the labor force status of every worker as either working full-time, partially retired or fully retired. We find that the fraction of partially retired workers has risen dramatically (from virtually 0 to 15...
Persistent link: https://www.econbiz.de/10010221835
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A congestion theory of unemployment fluctuations
Mercan, Yusuf; Schoefer, Benjamin; Sedlácek, Petr - 2020
In recessions, unemployment increases despite the - perhaps counterintuitive - fact that the number of unemployed workers finding jobs expands. On net, unemployment rises only because even more workers lose their jobs. We propose a theory of unemployment fluctuations resting on this...
Persistent link: https://www.econbiz.de/10012373190
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A reappraisal of the inflation-unemployment tradeoff
Karanassou, Marika; Sala, Hector; Snower, Dennis J. - 2002
This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth" describing the interplay between nominal frictions and money growth. When the money supply grows in the presence of price inertia (due to staggered wage contracts with time discounting), the...
Persistent link: https://www.econbiz.de/10011414902
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Shocks, frictions, and inequality in US business cycles
Bayer, Christian; Born, Benjamin; Luetticke, Ralph - 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/10012162730
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Macroeconomic shocks and racial labour market differences in the U.S.
De, Kuhelika; Compton, Ryan A.; Giedeman, Daniel C.; … - 2019
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/10012157899
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Labor market effects of US sick pay mandates
Pichler, Stefan; Ziebarth, Nicolas R. - 2016
market consequences. We use the Synthetic Control Group Method (SCGM) and the Quarterly Census of Employment and Wages (QCEW …) to estimate the causal effect of mandated sick leave on employment and wages. Our findings do not provide much evidence … that employment or wages were significantly affected by the mandates which typically allow employees to earn one hour of …
Persistent link: https://www.econbiz.de/10011455898
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Does private schooling increase adult earnings? : cohort-level evidence for U.S. states
Berger, Reilee L.; Winters, John V. - 2016
Public schooling in the U.S. has numerous critics, many of whom suggest that alternatives such as providing vouchers for private schools may be more effective. This paper combines decennial census and American Community Survey data for various years to examine the relationship between...
Persistent link: https://www.econbiz.de/10011521168
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Fixed exchange-rate policy and real wage growth : quasi-experimental evidence
Andini, Corrado - 2014
Using Difference-in-Differences estimation and data from the European Community Household Panel, this paper suggests that the fixed exchange-rate policy adopted by Italy in the 1997-2000 period has reduced the real hourly wage growth of Italian fulltime workers with permanent contracts, on...
Persistent link: https://www.econbiz.de/10010457884
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Wages, productivity, and work intensity in the great depression
Darby, Julia; Hart, Robert A. - 2002
We show that U.S. manufacturing wages during the Great Depression were importantly determined by forces on firms …
Persistent link: https://www.econbiz.de/10011412413