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Monetary persistence and the labor market : a new perspective

Lechthaler, Wolfgang; Merkl, Christian; Snower, Dennis J. - 2010

model, incorporating labor market frictions in the form of hiring and firing costs. We show that such a model is able to … the standard search and matching model. -- monetary persistence ; labor market ; hiring and firing costs …

Persistent link: https://www.econbiz.de/10003937114

Labour demand in Germany : an assessment of non-wage labour costs

Chen, Yu-Fu; Funke, Michael - 2003

The data indicate that non-wage labour costs in Germany have reached a record high in recent years. From 1972 to 2001 …, the ratio of non-wage labour costs to direct compensation in West German manufacturing industry rose from 55.6 per cent to … 81.2 per cent. The topic of non-wage labour costs is increasingly being discussed among and between the political parties …

Persistent link: https://www.econbiz.de/10011507925

Booms, recessions and financial turmoil : a fresh look at investment decisions under cyclical uncertainty

Chen, Yu-Fu; Funke, Michael - 2009

The paper studies the interaction between cyclical uncertainty and investment in a stochastic real option framework where demand shifts stochastically between three different states, each with different rates of drift and volatility. In our setting the shifts are governed by a three-state Markov...

Persistent link: https://www.econbiz.de/10003872827

Global warming and extreme events : rethinking the timing and intensity of environmental policy

Chen, Yu-Fu; Funke, Michael - 2010

The possibility of low-probability extreme events has reignited the debate over the optimal intensity and timing of climate policy. In this paper we therefore contribute to the literature by assessing the implications of low-probability extreme events on environmental policy in a continuous-time...

Persistent link: https://www.econbiz.de/10003994530

Envy, guilt, and the Phillips curve

Ahrens, Steffen; Snower, Dennis J. - 2012

We incorporate inequity aversion into an otherwise standard New Keynesian dynamic equilibrium model with Calvo wage contracts and positive inflation. Workers with relatively low incomes experience envy, whereas those with relatively high incomes experience guilt. The former seek to raise their...

Persistent link: https://www.econbiz.de/10009488916

Cooperation, motivation and social balance

Bosworth, Steven; Singer, Tania; Snower, Dennis J. - 2016

This paper examines the reflexive interplay between individual decisions and social forces to analyze the evolution of cooperation in the presence of "multi-directedness," whereby people's preferences depend on their psychological motives. People have access to multiple, discrete motives....

Persistent link: https://www.econbiz.de/10011431001

Multitasking and wages

Görlich, Dennis; Snower, Dennis J. - 2013

within education groups, our theory helps to explain (1) rising wage inequality between groups, and (2) rising wage …

Persistent link: https://www.econbiz.de/10009765032

Worker identity, employment fluctuations and stabilization policy

Lechthaler, Wolfgang; Snower, Dennis J. - 2013

This paper provides a model of "social hysteresis", whereby long, deep recessions demotivate workers and thereby lead them to change their work ethic. In switching from a pro-work to an anti-work identity, their incentives to seek and retain work fall and consequently their employment chances...

Persistent link: https://www.econbiz.de/10009753001

The firm as a pool of factor complementarities

Lindbeck, Assar; Snower, Dennis J. - 2003

Persistent link: https://www.econbiz.de/10009763532

The division of labor and the market for organizations

Lindbeck, Assar; Snower, Dennis J. - 2000

Persistent link: https://www.econbiz.de/10009763540