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Asymmetric labor market institutions in the EMU and the volatility of inflation and unemployment differentials
Abbritti, Mirko; Müller, Andreas - 2012
and real wage rigidities. In our analysis, we focus on the differentials in inflation and unemployment between countries … inflation and unemployment differentials. Second, we find that asymmetries in labor market structures tend to increase the … volatility of both inflation and unemployment differentials. Finally, we show that it is important to take into account the …
Persistent link: https://www.econbiz.de/10009536516
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Employment adjustment and part-time jobs : the U.S. and the U.K. in the Great Recession
Borowczyk-Martins, Daniel; Lalé, Etienne - 2016
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
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Testing for asymmetry in British, German and US unemployment data
Kohns, Stephan - 2001
Not only the level of aggregate unemployment but also the properties of its dynamics are an important topic in macroeconomics and labor economics. Several models like e.g. matching models with endogenous job destruction explicitly predict an asymmetric pattern in the evolution of unemployment,...
Persistent link: https://www.econbiz.de/10011403213
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Unemployment and endogenous reallocation over the business cycle
Carrillo-Tudela, Carlos; Visschers, Ludo - 2013
We build an analytically and computationally tractable stochastic equilibrium model of unemployment in heterogeneous labor markets. Facing search frictions within markets and reallocation frictions between markets, workers endogenously separate from employment and endogenously reallocate between...
Persistent link: https://www.econbiz.de/10009683022
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Uncertainty shocks and unemployment dynamics
Kandoussi, Malak; Langot, François - 2020
Recent events suggest that uncertainty changes play a major role in U.S. labor market fluctuations. This study analyzes the impact of uncertainty shocks on unemployment dynamics. Using a vector autoregression approach, we show that uncertainty shocks measured by stock market volatility have a...
Persistent link: https://www.econbiz.de/10012243477
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Good skills in bad times : cyclical skill mismatch and the long-term effects of graduating in a recession
Liu, Kai; Salvanes, Kjell G.; Sørensen, Erik Ø. - 2012
We show that cyclical skill mismatch, defined as mismatch between the skills supplied by college graduates and skills demanded by hiring industries, is an important mechanism behind persistent career loss from graduating in recessions. Using Norwegian data, we find a strong countercyclical...
Persistent link: https://www.econbiz.de/10009613683
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Real wages and the business cycles in Germany
Marczak, Martyna; Beissinger, Thomas - 2010
This paper establishes stylized facts about the cyclicality of real consumer wages and real producer wages in Germany. As detrending methods we apply the deterministic trend model, the Beveridge-Nelson decomposition, the Hodrick-Prescott filter, the Baxter-King filter and the structural time...
Persistent link: https://www.econbiz.de/10009009395
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Macroeconomic volatilities and the labor market : first results from the euro experiment
Merkl, Christian; Schmitz, Tom - 2010
This paper analyzes the effects of different labor market institutions on inflation and output volatility. The eurozone … and inflation volatility ; labor turnover costs ; unemployment benefits ; unemployment ; eurozone … on inflation volatility, which can also be rationalized by our theoretical model. -- Labor market institutions ; output …
Persistent link: https://www.econbiz.de/10003961662
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Some thoughts on macroeconomic fluctuations and the timing of labor market reform
Saint-Paul, Gilles - 2002
In this paper, I analyze the pros and cons of implementing structural reforms of the labor market in booms vs. recessions, in light of considerations of social efficiency, political viability, and macroeconomic fine tuning. While the optimal timing of a reform depends on the relative importance...
Persistent link: https://www.econbiz.de/10011414121
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Real wage cyclicality in the Eurozone before and during the Great Recession : evidence from micro data
Verdugo, Gregory - 2015
We study the response of real wages to the business cycle in eight major Eurozone countries before and during the Great …
Persistent link: https://www.econbiz.de/10011386663