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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
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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
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Search, wage posting, and urban spatial structure
Zenou, Yves (contributor) - 2008
We develop an urban-search model in which firms post wages. When all workers are identical, the Diamond paradox holds, i.e. there is a unique wage in equilibrium even in the presence of search and spatial frictions. This wage is affected by spatial and labor costs. When workers differ according...
Persistent link: https://www.econbiz.de/10003656915
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Minimum wages and welfare in a hotelling duopsony
Kaas, Leo (contributor); Madden, Paul (contributor) - 2008
Two firms choose locations (non-wage job characteristics) on the interval [0,1] prior to announcing wages at which they employ workers who are uniformly distributed; the (constant) marginal revenue products of workers may differ. Subgame perfect equilibria of the two-stage location-wage game are...
Persistent link: https://www.econbiz.de/10003688783
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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
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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
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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
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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
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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
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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