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Hysteresis in West German unemployment reconsidered

Reutter, Michael - 2000

The view that high unemployment in West Germany and other European countries is caused by a path dependence effect - or … hysteresis effect - is quite popular among economists. However, because of an identification problem, much of the empirical … is argued that in a cointegration framework it is reasonable to define hysteresis as the absence of weak exogeneity of …

Persistent link: https://www.econbiz.de/10009781510

Business cycles, unemployment insurance, and the calibration of matching models

Costain, James; Reiter, Michael - 2003

This paper points out an empirical failing of real business cycle models in which unemployment is endogenized through a matching function. One can easily choose a calibration to make the cyclical fluctuation in unemployment as large in the model as it is in the data, or to make the response of...

Persistent link: https://www.econbiz.de/10011509369

Optimal redistributive taxation with both labor supply and labor demand responses

Jacquet, Laurence; Lehmann, Etienne; Van der Linden, Bruno - 2012

This paper characterizes the optimal redistributive tax schedule in a matching unemployment framework where (voluntary) nonparticipation and (involuntary) unemployment are endogenous. The optimal employment tax rate is given by an inverse employment elasticity rule. This rule depends on the...

Persistent link: https://www.econbiz.de/10009518227

Revisions of potential output estimates in the EU after the Great Recession

Dovern, Jonas; Zuber, Christopher - 2019

Using European Commission real-time data, we show that potential output (PO) estimates were substantially and persistently revised downwards after the Great Recession. We decompose PO revisions into revisions of the capital stock, trend labor, and trend total-factor productivity (TFP)....

Persistent link: https://www.econbiz.de/10012026398

A competitive model of worker replacement and wage rigidity

Snell, Andy; Thomas, Jonathan P.; Wang, Zhewei - 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/10010237280

Unemployment in a just economy

Komlos, John - 2016

This paper is based on the ideas of political philosopher John Rawls who suggested that a just society is one which would be created behind a "veil of ignorance", that is to say, without knowing where one would end up in the society's distribution of talent and other attributes valued in the...

Persistent link: https://www.econbiz.de/10011497927

Aggregation in large dynamic panels

Pesaran, M. Hashem; Chudik, Alexander - 2011

concludes with an empirical application to consumer price inflation in Germany, France and Italy, and re-examines the extent to …

Persistent link: https://www.econbiz.de/10009010169

Business cycle asymmetries and the labor market

Kohlbrecher, Britta; Merkl, Christian - 2016 - First version: April 2015. This version: February 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/10011444082

What hides behind the German labor market miracle? : unemployment insurance reforms and labor market dynamics

Hartung, Benjamin; Jung, Philip; Kuhn, Moritz - 2018

A key question in labor market research is how the unemployment insurance system affects unemployment rates and labor market dynamics. We revisit this old question studying the German Hartz reforms. On average, lower separation rates explain 76% of declining unemployment after the reform, a fact...

Persistent link: https://www.econbiz.de/10011936315

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 …

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

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