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Unemployment and employment protection in a unionized economy with search frictions
Stähler, Nikolai - 2007
In theoretical literature, the effects of employment protection on unemployment are ambiguous. Higher employment protection decreases job creation as well as job destruction. However, in most models, wages are bargained individually between workers and firms. Using a conventional matching model...
Persistent link: https://www.econbiz.de/10010295841
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On-the-job search and the cyclical dynamics of the labor market
Krause, Michael; Lubik, Thomas A. - 2007
We show how on-the-job search and the propagation of shocks to the economy are intricately linked. Rising search by employed workers in a boom amplifies the incentives of firms to post vacancies. In turn, more vacancies induce more on-the-job search. By keeping job creation costs low for firms,...
Persistent link: https://www.econbiz.de/10010295852
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Restrictive immigration policy in Germany: pains and gains foregone?
Felbermayr, Gabriel J.; Geis, Wido; Kohler, Wilhelm K. - 2008
Many European countries restrict immigration from new EU member countries. The rationale is to avoid adverse wage and employment effects. We quantify these effects for Germany. Following Borjas (2003), we estimate a structural model of labor demand, based on elasticities of substitution between...
Persistent link: https://www.econbiz.de/10010298731
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Government expenditures and unemployment: A DSGE perspective
Mayer, Eric; Moyen, Stéphane; Stähler, Nikolai - 2010
In a New Keynesian DSGE model with labor market frictions and liquidity-constrained consumers aggregate unemployment is likely to increase due to a non-persistent government spending shock. Furthermore, the group of asset-holding households reacts very differently from the group of...
Persistent link: https://www.econbiz.de/10010301351
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Budgetary Policy and Unemployment Dynamics
von Thadden, Leopold; Kaas, Leo - 2001
untersuchen die Entwicklung von Arbeitslosigkeit in Abhängigkeit von zwei verschiedenen staatlichen Budgetpolitiken. In … Übereinstimmung mit der traditionellen Literatur werden Schwankungen in der Arbeitslosigkeit kurzfristig durch eine ausgeglichene … Budgets erhöht jedoch über die Zeit die Persistenz der Arbeitslosigkeit durch adverse Wachstumseffekte und führt eventuell zu …
Persistent link: https://www.econbiz.de/10010295705
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Business Cycle Transmission from the US to Germany: a Structural Factor Approach
Eickmeier, Sandra - 2004
This paper investigates the transmission of US macroeconomic shocks to Germany by employing a large-dimensional structural dynamic factor model. This framework allows us to investigate many transmission channels simultaneously, including 'new' channels like stock markets, foreign direct...
Persistent link: https://www.econbiz.de/10010295639
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Identifying the role of labor markets for monetary policy in an estimated DSGE model
Christoffel, Kai Philipp; Küster, Keith; Linzert, Tobias - 2006
We focus on a quantitative assessment of rigid labor markets in an environment of stable monetary policy. We ask how wages and labor market shocks feed into the inflation process and derive monetary policy implications. Towards that aim, we structurally model matching frictions and rigid wages...
Persistent link: https://www.econbiz.de/10010295805
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NAIRU estimates for Germany: New evidence on the inflation-unemployment trade-off
Kajuth, Florian - 2010
The paper estimates the NAIRU from a Phillips curve relationship in the state-space framework. To identify the inflation-unemployment trade-off we account for a time-varying inflation trend to control for the part of inflation that is not affected by the cyclical component of unemployment. In...
Persistent link: https://www.econbiz.de/10010302117
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Bubbles and incentives: A post-mortem of the Neuer Markt in Germany
von Kalckreuth, Ulf; Silbermann, Leonid - 2010
This paper aims to shed light on some of the major allocative consequences of financial market bubbles. In March 1997, the Neuer Markt in Germany opened. Six years later, in June 2003, it closed forever. In the interim period lay the spectacular rise and fall of the first and most important...
Persistent link: https://www.econbiz.de/10010301349
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Regionalwährungen in Deutschland: Lokale Konkurrenz für den Euro?
Rösl, Gerhard - 2006
In a surprisingly growing number of regions in Germany private "regional currencies" are issued as a cash substitute for the euro. Currently, these regional currencies are conceived almost exclusively as Schwundgeld (depreciative currency), which loses value on a predetermined timescale. This...
Persistent link: https://www.econbiz.de/10010295832