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Monetary persistence and the labor market : a new perspective

Lechthaler, Wolfgang (contributor); … - 2008

introduction of labor turnover costs (such as hiring and firing costs). Assuming that it is costly to hire and fire workers implies … continue to exert an effect on the labor market even long after the shock is over. The sluggishness of the labor market … relationship and a negative correlation between job creation and job destruction. -- Monetary persistence ; labor market ; hiring …

Persistent link: https://www.econbiz.de/10003719627

Earnings-related severance pay

Goerke, Laszlo - 2006

In an efficiency wage economy, lump-sum severance pay from which shirkers can be excluded raises employment. However, severance payments are usually related to wages. It is shown that earnings-related, mandated severance pay will have ambiguous employment effects if effort can be varied...

Persistent link: https://www.econbiz.de/10003355561

Corporate and personal income tax declarations

Goerke, Laszlo (contributor) - 2006

Decisions by firms and individuals on the extent of their tax payments have generally been treated as separate choices. Empirically, a positive relationship between corporate and personal income tax evasion can be observed. The theoretical analysis in this paper shows that a manager's decision...

Persistent link: https://www.econbiz.de/10003355568

Phillips curves and unemployment dynamics : a critique and a holistic perspective

Karanassou, Marika (contributor); Sala, Hector (contributor) - 2006

"The conventional wisdom that inflation and unemployment are unrelated in the long-run implies that these phenomena can be analysed by separate branches of economics. The macro literature tries to explain inflation dynamics and estimates the NAIRU. The labour macro literature tries to explain...

Persistent link: https://www.econbiz.de/10003359297

An incentive theory of matching

Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - 2009

This paper presents a theory explaining the labor market matching process through microeconomic incentives. There are …

Persistent link: https://www.econbiz.de/10003832116

Hyperbolic discounting and the Phillips curve

Graham, Liam (contributor); Snower, Dennis J. (contributor) - 2008

Using a standard dynamic general equilibrium model, we show that the interaction of staggered nominal contracts with hyperbolic discounting leads to inflation having significant long-run effects on real variables. -- Inflation ; unemployment ; Phillips curve ; nominal inertia ; monetary policy ;...

Persistent link: https://www.econbiz.de/10003697369

Unemployment insurance savings accounts and collective wage determination

Goerke, Laszlo (contributor) - 2007

Unemployment Insurance Savings Accounts (UISAs) entitle workers to unemployment benefits at the expense of future pension payments. Therefore, such accounts make unemployment less attractive, intensify job search, and raise employment. In the present paper the wage and employment consequences of...

Persistent link: https://www.econbiz.de/10003578895

Unemployment accounts and employment incentives

Brown, Alessio J. G. (contributor); … - 2006

We explore the far-reaching implications of replacing current unemployment benefit (UB) systems by an unemployment accounts (UA) system. Under the UA system, employed people are required to make ongoing contributions to their UAs and the balances in these accounts are available to them during...

Persistent link: https://www.econbiz.de/10003387735

A positive theory of the earnings relationship of unemployment benefits

Goerke, Laszlo (contributor); Pannenberg, Markus (contributor) - 2007

Evidently, the benefit-structure of the unemployment insurance has a significant influence on profits and trade union utility. We show for a wage bargaining model that a stronger earnings relationship of unemployment benefits may reduce wages and increase employment. This raises the question as...

Persistent link: https://www.econbiz.de/10003539357

Monetary persistence, imperfect competition, and staggering complementarities

Merkl, Christian (contributor); … - 2007

persistence generated by wage vis-à-vis price staggering depends on the relative competitiveness of the labor and product markets … homogenous capital accumulation. Under firm-specific capital, wage staggering generates more persistence only when the labor …

Persistent link: https://www.econbiz.de/10003557342