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Worker identity, employment fluctuations and stabilization policy

Snower, Dennis J.; Lechthaler, Wolfgang - 2013

This paper provides a model of "social hysteresis" whereby long, deep recessions demotivate workers and thereby lead …

Persistent link: https://www.econbiz.de/10009752694

The asymmetric effect of wage floors : a natural experiment with a rising and falling minimum wage

Huet-Vaughn, Emiliano; Piqueras, Jon - 2023

revoked, providing novel evidence of hysteresis in wage setting from temporary labor policy. In the first year post repeal …

Persistent link: https://www.econbiz.de/10014445444

The complexity of economic policy : I. Restricted local optima in tax policy design

Saint-Paul, Gilles - 2002

Economists traditionally tackle normative problems by computing optimal policy, i.e. the one that maximizes a social welfare function. In practice, however, a succession of marginal changes to a limited number of policy instruments are implemented, until no further improvement is feasible. I...

Persistent link: https://www.econbiz.de/10011411222

Interest rate hysteresis in macroeconomic investment under uncertainty

Belke, Ansgar; Göcke, Matthias - 2019

the scenarios of both certainty and uncertainty. We capture the direct interest rate-hysteresis on the investments and the … capital stock and, explicitly, of stochastic changes on the interest rate-investment hysteresis. Starting with hysteresis … hysteresis effects on a macroeconomic level. Based on our simple model we are able to obtain some conclusions about the efficacy …

Persistent link: https://www.econbiz.de/10012099522

Equilibrium wage arrears : a theoretical and empirical analysis of institutional lock-in

Earle, John S.; Sabirianova Peter, Klara - 2000

We present a model of wage contract violation that implies a possibility of multiple equilibria in the level of arrears. Positive feedback arises because each employer's arrears affect the costs of late payment faced by other employers operating in the same labor market, resulting in a network...

Persistent link: https://www.econbiz.de/10011339102

Awareness of general equilibrium effects and unemployment

Gersbach, Hans; Schniewind, Achim - 2001

We examine wage-bargaining in a two-sector economy when employers and labor unions in each sector are not always aware of all general equilibrium feedback effects. We show analytically that if agents only consider labor demand effects, low real wages and low unemployment result. With an...

Persistent link: https://www.econbiz.de/10011405183

Real options effects on employment : does exchange rate uncertainty matter for aggregation?

Belke, Ansgar (contributor); Göcke, Matthias (contributor) - 2004 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10002035678

Unemployment, growth and fiscal policy : new insights on the hysteresis hypothesis

Raurich-Puigdevall, Xavier (contributor); … - 2004 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10002035720

Initial luck, status-seeking and snowballs lead to corporate success and failure

Glazer, Amihai (contributor); Kanniainen, Vesa (contributor) - 2004

Corporate success often resembles a snowball. We show how initial luck in hiring talented people, the resulting technological advantage, superior corporate culture, and status-seeking by workers can make small initial differences generate large differences over time.

Persistent link: https://www.econbiz.de/10002526021

Aggregation in large dynamic panels

Pesaran, M. Hashem; Chudik, Alexander - 2011

This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is potentially related to all other micro units, and where micro innovations are allowed to be cross sectionally dependent. Following Pesaran (2003), an optimal aggregate function is...

Persistent link: https://www.econbiz.de/10009130496

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