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Optimal Monetary Policy Rules with Labor Market Frictions
Faia, Ester - 2021
deviate from the strict inflation targeting since the policy maker faces a typical unemployment/inflation trade-off. In this … (hence the output gap) since the latter also depends on the evolution of unemployment. The matching frictions add a … matches. Hence optimal monetary policy features unemployment targeting along with inflation targeting …
Persistent link: https://www.econbiz.de/10013317347
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Cyclical Inflation Divergence and Different Labor Market Institutions in the Emu
Campolmi, Alessia; Faia, Ester - 2021
differences in labor market institutions across the same set of countries. It does that by using a DSGE model for a currency area … with sticky prices and labor market frictions. We show that differences in labor market institutions account well for … cyclical inflation differentials. The proposed mechanism is a supply side one in which differences in labor market institutions …
Persistent link: https://www.econbiz.de/10013317627
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On-the-Job Search and the Cyclical Dynamics of the Labor Market
Krause, Michael U.; Lubik, Thomas A. - 2021
, this allows the model to generate fluctuations of unemployment, vacancies, and labor productivity whose magnitudes are lose …
Persistent link: https://www.econbiz.de/10013318926
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Explaining Deviations from Okun's Law
Foroni, Claudia; Furlanetto, Francesco - 2022
with a SVAR model by inspecting how unemployment responds to the state of the economy. We show that deviations from Okun …
Persistent link: https://www.econbiz.de/10014079147
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Firm-Level Employment, Labour Market Reforms, and Bank Distress
Stieglitz, Moritz - 2019
We explore the interaction between labour market reforms and financial frictions. Our study combines a new cross-country reform database on labour market reforms with matched firm-bank data for nine euro area countries over the period 1999 to 2013. While we find that labour market reforms are...
Persistent link: https://www.econbiz.de/10012858395
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What are the Main Obstacles to Hiring after Recessions in Europe?
Savsek, Simon - 2021
This paper assesses the relative importance of perceived obstacles to hiring workers on a permanent basis faced by EU firms and studies how they depend on firm’s characteristics. Findings suggest that the main obstacles to hiring in Europe are high uncertainty, shortage of skilled labour, high...
Persistent link: https://www.econbiz.de/10013315423
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Why Do Europeans Work Part-Time? A Cross-Country Panel Analysis
Mourre, Gilles; Buddelmeyer, Hielke; Ward-Warmedinger, … - 2021
consistent with firms utilizing part-time work to adjust their labor force to changing economic conditions. Institutions and …
Persistent link: https://www.econbiz.de/10013316586
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Technology shocks and robust sign restrictions in a euro area SVAR
Peersman, Gert; Straub, Roland - 2004
This paper provides evidence for the impact of technology, labor supply, monetary policy and aggregate spending shocks on hours worked in the Euro area. The evidence is based on a vector autoregression identi?ed using sign restrictions that are consistent with both sticky price and real business...
Persistent link: https://www.econbiz.de/10011604419
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Persistence and nominal inertia in a generalized Taylor economy: how longer contracts dominate shorter contracts
Dixon, Huw; Kara, Engin - 2005
In this paper we develop the Generalized Taylor Economy (GTE) in which there are many sectors with overlapping contracts of different lengths. In economies with the same average contract length, monetary shocks will be more persistent when longer contracts are present. We are able to solve the...
Persistent link: https://www.econbiz.de/10011604535
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Cyclical inflation divergence and different labor market institutions in the EMU
Campolmi, Alessia; Faia, Ester - 2006
differences in labor market institutions across the same set of countries. It does that by using a DSGE model for a currency area … with sticky prices and labor market frictions. We show that differences in labor market institutions account well for … cyclical inflation differentials. The proposed mechanism is a supply side one in which differences in labor market institutions …
Persistent link: https://www.econbiz.de/10011604665