We introduce two types of effort into an otherwise standard labor search model to examine indeterminacy and sunspot equilibria. Variable labor effort gives rise to increasing returns to hours in production. This makes workers more valuable and contributes to self-fulfilling profit expectations,...

This paper examines the dynamic effects of monsoon rainfall shocks on yield, wages, and prices in the Indian agricultural sector. We distinguish between positive and negative rainfall shocks and explicitly consider their spatial dimension (local/regional). We find that particularly negative...

EU Eastern Enlargement elicited a rise in (temporary) labour market oriented immi-gration to Germany starting in May 2011. Taking into account that not all immigrantsstay permanently and that outmigration flows are selective, this paper classifies recent EUimmigrants into “new arrivals” and...