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Characteristics of unemployment dynamics : the chain reaction approach

Karanassou, Marika; Snower, Dennis J. - 2000

The aim of this paper is to analyze and estimate salient characteristics of unemployment dynamics. Movements in unemployment are viewed as "chain reactions" of responses to labor market shocks, working their way through systems of interacting lagged adjustment processes. In the context of...

Persistent link: https://www.econbiz.de/10011325992

The evolution of inflation and unemployment : explaining the roaring nineties

Karanassou, Marika (contributor); Sala, Hector (contributor) - 2007

This paper analyses the relation between US inflation and unemployment from the perspective of "frictional growth," a phenomenon arising from the interplay between growth and frictions. In particular, we examine the interaction between money growth (on the one hand) and various real and nominal...

Persistent link: https://www.econbiz.de/10003586564

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

The minimum wage from a two-sided perspective

Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - 2014

This paper sheds new light on the effects of the minimum wage on employment from a two-sided theoretical perspective … incentives and increase job acceptance incentives. We show that sufficiently low minimum wages may do no harm to employment …

Persistent link: https://www.econbiz.de/10010369825

On-the-job training and the effects of insider power

Díaz-Vázquez, Pilar; Snower, Dennis J. - 2002

will employment be affected? In addressing this question, we focus on the role of on-the-job training. We show that an … insider wage hike reduces recession-time employment but, in the presence of on-the-job training, increases boom …-time employment. Thus on-the-job training can make insider wage hikes less detrimental to average employment (over booms and …

Persistent link: https://www.econbiz.de/10011413583

Adjustment dynamics and the natural rate : an account of UK unemployment

Henry, S. G. B.; Karanassou, Marika; Snower, Dennis J. - 1999

This paper challenges what is the standard account of UK unemployment, namely that the major swings in unemployment over the past 25 years are due predominantly to movements in the underlying empirical “natural rate of unemployment” (NRU). Our analysis suggests that the British NRU has...

Persistent link: https://www.econbiz.de/10011313937