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and inflation volatility ; labor turnover costs ; unemployment benefits ; unemployment ; eurozone …This paper analyzes the effects of different labor market institutions on inflation and output volatility. The eurozone …. We use a New Keynesian model with unemployment to predict the effects of different labor market institutions on …
Persistent link: https://www.econbiz.de/10003961662
Not only the level of aggregate unemployment but also the properties of its dynamics are an important topic in … asymmetric pattern in the evolution of unemployment, whereas linear models with Gaussian innovations preclude such dynamics. This … paper applies several tests for asymmetry to aggregate British, German and US unemployment data to assess the relevance of …
Persistent link: https://www.econbiz.de/10011403213
density function with higher density and thereby generate large, asymmetric job-finding rate and unemployment reactions. Our …
Persistent link: https://www.econbiz.de/10011455340
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
unemployment rate are found to be key indicators associated with turning points. Next, we consider at a micro-economic level, using … unemployment rate (both highly correlated with the cycle); (ii) local level economic resilience; and (iii) the likelihood of …
Persistent link: https://www.econbiz.de/10014582294
We document that fluctuations in part-time employment play a major role in movements in hours per worker, especially during cyclical swings in the labor market. Building on this result, we propose a novel representation of the intensive margin based on a stock-flow framework. The evolution of...
Persistent link: https://www.econbiz.de/10011455784
probabilities between private and public employment, unemployment and inactivity. We examine the stocks and flows by gender, age and … unemployment rate. Public-sector employment contributes 20 percent to fluctuations in the unemployment rate in the UK, 15 percent …
Persistent link: https://www.econbiz.de/10012101955
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
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
of the unemployment rate and of worker transitions. …
Persistent link: https://www.econbiz.de/10011821431