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How do wages respond to financial recessions? Based on a dynamic macroeconomic model with frictions in the labor and … and explore their effect on wages. First, the financial labor wedge reduces wages. Second, financial constraints may … interact with aggregate labor market conditions in various ways putting upward or downward pressure on wages. We test partial …
Persistent link: https://www.econbiz.de/10012389827
vacancy longevity for modeling and calibration, in particular regarding match cyclicality and wages. When calibrated to the …
Persistent link: https://www.econbiz.de/10012288522
I produce novel evidence on worker reallocation across employers and between employment and nonemployment/unemployment for several European countries over the past two decades. I construct a dataset of monthly transition rates by developing a novel approach to measure them using cross-sectional...
Persistent link: https://www.econbiz.de/10015206800
In light of recent discussions about shifting employees from traditional workplaces to virtual employment, we are motivated by the question of whether this phenomenon will end up saving lives even in the absence of an infectious disease outbreak. Motor vehicle incidents are the leading cause of...
Persistent link: https://www.econbiz.de/10012517616
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price themselves into jobs by undercutting incumbents – imply that real wages are relatively rigid in "bad" times but … of West German labor markets. We find that the elasticity of real wages with respect to output is very close to zero in … effects the cyclicality of new hire wages is approximately the same as that for incumbent wages regardless of whether or not …
Persistent link: https://www.econbiz.de/10011855567
This paper analyzes Germany's unusual labor market experience during the Great Recession. We estimate a general equilibrium model with a detailed labor market block for post-unification Germany. This allows us to disentangle the role of institutions (short-time work, government spending rules)...
Persistent link: https://www.econbiz.de/10011916540
We develop an adjustment procedure to construct U.S. monthly time series of involuntary part-time employment stocks and flows from 1976 until today. Armed with these new data, we provide a comprehensive account of the dynamics of involuntary part-time work. Transitions from full-time to...
Persistent link: https://www.econbiz.de/10011913254