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Labor market flows and equilibrium search unemployment

Garibaldi, Pietro; Wasmer, Etienne - 2001

labor market states. In steady-state, we hence have a theory of equilibrium unemployment determined by both matching … labor force and rises the share of attached workers. Finally, our theory suggests that contrary to two-state models …

Persistent link: https://www.econbiz.de/10011405565

Labor supply dynamics, unemployment and human capital investments

Wasmer, Etienne - 2002

In the last decades, the OECD labor markets faced important labor supply changes with the arrival of women and the cohorts of the baby-boom. Using a survey where workers declare their true employment experience, this paper argues that these supply trends imply more inexperienced workers. It then...

Persistent link: https://www.econbiz.de/10011410676

Higher education levels, firms' outside options and the wage structure

Rosén, Åsa; Wasmer, Etienne - 2002

We analyze the consequences of an increase in the supply of highly educated workers on relative and real wages in a search model where wages are set by Nash-bargaining. The key insight is that an increase in the supply of highly educated workers improves the firms' outside option. As a...

Persistent link: https://www.econbiz.de/10011405857

Raising female employment : reflexions and policy tools

Garibaldi, Pietro (contributor); Wasmer, Etienne (contributor) - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001869058

Interpreting Europe and US labor markets differences : the specificity of human capital investments

Wasmer, Etienne - 2002

This paper suggests that in the US context, workers tend to invest in general human capital especially since they face little employment protection and low unemployment benefits, while the European model (generous benefits and higher duration of jobs) favors specific human capital investments....

Persistent link: https://www.econbiz.de/10011412475

Equilibrium employment in a model of imperfect labor markets

Garibaldi, Pietro (contributor); Wasmer, Etienne (contributor) - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001868919

Exponent of cross-sectional dependence : estimation and inference

Bailey, Natalia; Kapetanios, George; Pesaran, M. Hashem - 2012

An important issue in the analysis of cross-sectional dependence which has received renewed interest in the past few years is the need for a better understanding of the extent and nature of such cross dependencies. In this paper we focus on measures of cross-sectional dependence and how such...

Persistent link: https://www.econbiz.de/10009530816

Space, search and efficiency

Wasmer, Etienne; Zenou, Yves - 2000

We investigate the role of spatial frictions in search equilibrium unemployment. For that, we develop a model of the labor market in which workers? location in an agglomeration depends on commuting costs, the endogenous price of land and the value of job search and employment. We first show that...

Persistent link: https://www.econbiz.de/10011336862

The macroeconomics of labor and credit market imperfections

Wasmer, Etienne; Weil, Philippe - 2000

Labor market frictions are not the only possible factor responsible for high unemployment. Credit market imperfections, driven by microeconomic frictions and impacted upon by macroeconomic factors such as monetary policy, could also be to blame. This paper shows that labor and credit market...

Persistent link: https://www.econbiz.de/10011336864

Labor market efficiency, wages and employment when search frictions interact with intrafirm bargaining

Cahuc, Pierre; Wasmer, Etienne - 2001

In search of a macroeconomic theory of wage determination, the agnostic reader should be puzzled by the apparent … contradiction between two influential theories. On one hand, in the standard search-matching theory with wage bargaining, hiring … overemployment or to under-employment compared with the first-best. On the other hand, in Stole and Zwiebel's theory of intrafirm …

Persistent link: https://www.econbiz.de/10011401500