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Nonlinear propagation of sectoral productivity shocks with variable elasticities of substitution

Paul, Saumik; Raju, Dhushyanth - 2023

This paper examines the nonlinear propagation of sectoral productivity shocks in a general equilibrium framework with intersectoral linkages characterized by allowing elasticities of substitution in sectoral outputs and sectoral productivities to vary across sector pairs. Evidence based on a...

Persistent link: https://www.econbiz.de/10014429881

The labor market consequences of adverse financial shocks

Boeri, Tito; Garibaldi, Pietro; Moen, Espen R. - 2012

shock. Third, we present evidence coherent with the idea that more leveraged sectors experience larger employment volatility … in normal times deep capital markets lead to tight labor markets. After an adverse liquidity shock, firms that rely much …

Persistent link: https://www.econbiz.de/10009613676

Minimum wages and insurance within the firm

Adamopoulou, Effrosyni; Manaresi, Francesco; Rachedi, Omar - 2021

Minimum wages alter the allocation of firm-idiosyncratic risk across workers. To establish this result, we focus on Italy, and leverage employer-employee data matched to firm balance sheets and hand-collected wage floors. We find a relatively larger pass-through of firm-specific labor-demand...

Persistent link: https://www.econbiz.de/10012795332

Optimal tax-transfer rules under equilibrium and new labour demand scenarios

Colombino, Ugo; Islam, Nizamul - 2020

We present an extension of the numerical approach to empirical optimal taxation allowed by a peculiar structure of a microeconometric model of labour supply that includes a representation of the demand side. This makes it possible to identify optimal tax-transfer rules while accounting for...

Persistent link: https://www.econbiz.de/10012257440

Temporary international migration, shocks and informal insurance: analysis using panel data

Chakraborty, Tanika; Pandey, Manish - 2021

. Using a household fixed effects regression model, we find that while a drought shock increases the likelihood of migration … trade-off between two effects of a shock for a household: loss of income and increase in the need of labor services. We show … that migration increases when the former effect of a shock dominates, it reduces when the latter effect dominates. We …

Persistent link: https://www.econbiz.de/10012419122

Cross-country connectedness in inflation and unemployment: measurement and macroeconomic consequences

Binh Thai Pham; Sala, Hector - 2021

We bring the notion of connectedness (Diebold and Yilmaz, 2012) to a set of two critical macroeconomic variables as inflation and unemployment. We focus on the G7 economies plus Spain, and use monthly data –high-frequency data in a macro setting – to explore the extent and consequences of...

Persistent link: https://www.econbiz.de/10012491801

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

Government deficit shocks and Okun's coefficient volatility : new insights on the austerity versus growth debate

Binh Thai Pham; Sala, Hector - 2019

This paper connects two salient economic features: (i) Fiscal shocks have asymmetric effects across business cycle phases (Gechert et al., 2019); (ii) Okun's coefficient is time varying and may be unstable. The intertwined dynamic behavior of fiscal shocks and unemployment-output trade-offs are...

Persistent link: https://www.econbiz.de/10012054782

Wage cyclicalities and labor market dynamics at the establishment level : theory and evidence

Merkl, Christian; Stüber, Heiko - 2017

Using the new AWFP dataset that covers all German establishments, we document a substantial cross-sectional heterogeneity of establishments' average real wages over the business cycle. While the median establishments' real wages are procyclical, there is a large fraction of establishments with...

Persistent link: https://www.econbiz.de/10011735900

Wage risk, employment risk and the rise in wage inequality

Mecikovsky, Ariel Matias; Wellschmied, Felix - 2016

We estimate the changes in US male labor market risk over the last three decades in a model of endogenous labor supply and job mobility. Across education groups permanent shocks to productivity have become more dispersed. Moreover, heterogeneity in pay across offered jobs has increased for...

Persistent link: https://www.econbiz.de/10011595910