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Uncovering the mechanism(s): financial constraints and wages
Arabzadeh, Hamzeh; Balleer, Almut; Gehrke, Britta - 2020
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
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Does high home-ownership impair the labor market?
Blanchflower, David G.; Oswald, Andrew J. - 2013
This study explores the hypothesis that high home-ownership damages the labor market. We show that rises in the home-ownership rate in a U.S. state are a precursor to eventual sharp rises in unemployment in that state. The elasticity exceeds unity: a doubling of the rate of home-ownership in a...
Persistent link: https://www.econbiz.de/10010195450
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Families in macroeconomics
Doepke, Matthias; Tertilt, Michele - 2016
Much of macroeconomics is concerned with the allocation of physical capital, human capital, and labor over time and across people. The decisions on savings, education, and labor supply that generate these variables are made within families. Yet the family (and decision-making in families) is...
Persistent link: https://www.econbiz.de/10011454407
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Macroeconomic determinants of retirement timing
Gorodnichenko, Yuriy; Song, Jae; Stolyarov, Dmitriy - 2013
We analyze lifetime earnings histories of white males during 1960-2010 and categorize the labor force status of every worker as either working full-time, partially retired or fully retired. We find that the fraction of partially retired workers has risen dramatically (from virtually 0 to 15...
Persistent link: https://www.econbiz.de/10010221835
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Death on the job: the Great Recession and work-related traffic fatalities
French, Michael T.; Gumus, Gulcin - 2021
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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Long live the vacancy
Häfke, Christian; Reiter, Michael - 2020
vacancy longevity for modeling and calibration, in particular regarding match cyclicality and wages. When calibrated to the …
Persistent link: https://www.econbiz.de/10012288522
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Do unemployment benefit extensions explain the emergence of jobless recoveries?
Mitman, Kurt; Rabinovich, Stanislav - 2019
Countercyclical unemployment benefit extensions in the United States act as a propagation mechanism, contributing to both the high persistence of unemployment and its weak correlation with productivity. We show this by modifying an otherwise standard frictional model of the labor market to...
Persistent link: https://www.econbiz.de/10012019263
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The ins and outs of involuntary part-time employment
Borowczyk-Martins, Daniel; Lalé, Etienne - 2018
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
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The German labor market during the Great Recession : shocks and institutions
Gehrke, Britta; Lechthaler, Wolfgang; Merkl, Christian - 2018
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
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A reappraisal of the inflation-unemployment tradeoff
Karanassou, Marika; Sala, Hector; Snower, Dennis J. - 2002
This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth" describing the interplay between nominal frictions and money growth. When the money supply grows in the presence of price inertia (due to staggered wage contracts with time discounting), the...
Persistent link: https://www.econbiz.de/10011414902