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Business cycle asymmetries and the labor market

Kohlbrecher, Britta; Merkl, Christian - 2016

density function with higher density and thereby generate large, asymmetric job-finding rate and unemployment reactions. Our …

Persistent link: https://www.econbiz.de/10011455340

Labour market reallocation effects of COVID-19 policies in Spain : a tale of two recessions

Díaz, Antonia; Dolado, Juan J.; Jáñez, Álvaro; … - 2023

. We show that ERTEs stabilize unemployment rates by allowing workers to remain with their employers in highly affected …

Persistent link: https://www.econbiz.de/10014250592

Macroeconomic volatilities and the labor market : first results from the euro experiment

Merkl, Christian; Schmitz, Tom - 2010

. We use a New Keynesian model with unemployment to predict the effects of different labor market institutions on …This paper analyzes the effects of different labor market institutions on inflation and output volatility. The eurozone … theory. While labor market institutions have a large effect on output volatility, they do not seem to have much of an effect …

Persistent link: https://www.econbiz.de/10003961662

The German labor market during the Great Recession : shocks and institutions

Gehrke, Britta; Lechthaler, Wolfgang; Merkl, Christian - 2018

institutions (short-time work, government spending rules) and shocks (aggregate, labor market, and policy shocks) and to perform …

Persistent link: https://www.econbiz.de/10011916540

Wage cyclicalities and labor market dynamics at the establishment level : theory and evidence

Merkl, Christian; Stüber, Heiko - 2017

Using the new AWFP dataset that covers all German establishments, we document a substantial cross-sectional heterogeneity of establishments' average real wages over the business cycle. While the median establishments' real wages are procyclical, there is a large fraction of establishments with...

Persistent link: https://www.econbiz.de/10011735900

Extensive vs. intensive margin in Germany and the United States : any differences?

Merkl, Christian; Wesselbaum, Dennis - 2010

This paper analyzes the role of the extensive vis-à-vis the intensive margin of labor adjustment in Germany and in the United States. The contribution is twofold. First, we provide an update of older US studies and confirm the view that the extensive margin (i.e., the adjustment in the number...

Persistent link: https://www.econbiz.de/10008806578

Monetary persistence and the labor market : a new perspective

Lechthaler, Wolfgang (contributor); … - 2008

It is common knowledge that the standard New Keynesian model is not able to generate a persistent response in output to temporary monetary shocks. We show that this shortcoming can be remedied in a simple and intuitively appealing way through the introduction of labor turnover costs (such as...

Persistent link: https://www.econbiz.de/10003719627

Escaping the unemployment trap : the case of East Germany

Merkl, Christian (contributor); … - 2008

This paper addresses the question of why high unemployment rates tend to persist even after their proximate causes have …

Persistent link: https://www.econbiz.de/10003758672

An incentive theory of matching

Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - 2009

empirical regularities that the conventional matching model cannot. -- Matching ; incentives ; adjustment costs ; unemployment …

Persistent link: https://www.econbiz.de/10003832116

Labor turnover costs, workers' heterogeneity, and optimal monetary policy

Faia, Ester; Lechthaler, Wolfgang; Merkl, Christian - 2009

We study the design of optimal monetary policy in a New Keynesian model with labor turnover costs in which wages are set according to a right to manage bargaining where the firms' counterpart is given by currently employed workers. Our model captures well the salient features of European labor...

Persistent link: https://www.econbiz.de/10003879356