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The cyclical behavior of equilibrium unemployment and vacancies revisited
Hagedorn, Marcus; Manovskii, Iourii - 2008
Recently, a number of authors have argued that the standard search model cannot generate the observed business-cycle-frequency fluctuations in unemployment and job vacancies, given shocks of a plausible magnitude. We use data on the cost of vacancy creation and cyclicality of wages to identify...
Persistent link: https://www.econbiz.de/10011604899
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Money Talks
Hoerova, Marie - 2010
We study credible information transmission by a benevolent Central Bank. We consider two possibilities: direct … revelation through an announcement, versus indirect information transmission through monetary policy. These two ways of … transmitting information have very different consequences. Since the objectives of the Central Bank and those of individual …
Persistent link: https://www.econbiz.de/10013150973
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On-the-Job Search and the Cyclical Dynamics of the Labor Market
Krause, Michael U.; Lubik, Thomas A. - 2021
We show how on-the-job search and the propagation of shocks to the economy are intricately linked. Rising search by employed workers in a boom amplifies the incentives of firms to post vacancies. In turn, more vacancies increases job search. By keeping job creation costs low for firms,...
Persistent link: https://www.econbiz.de/10013318926
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The Role of Real Wage Rigidity and Labor Market Frictions for Unemployment and Inflation Dynamics
Christoffel, Kai Philipp - 2006
In this paper we incorporate a labor market with matching frictions and wage rigidities into the New Keynesian business …
Persistent link: https://www.econbiz.de/10012783591
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The Cyclical Behavior of Equilibrium Unemployment and Vacancies Revisited
Hagedorn, Marcus; Manovskii, Iourii - 2021
Recently, a number of authors have argued that the standard search model cannot generate the observed business-cycle-frequency fluctuations in unemployment and job vacancies, given shocks of a plausible magnitude. We use data on the cost of vacancy creation and cyclicality of wages to identify...
Persistent link: https://www.econbiz.de/10013316636
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Sequential Bargaining in a New-Keynesian Model with Frictional Unemployment and Wage Negotiation
de Walque, Gregory - 2009
We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence. The closer to zero this parameter, (i) the more...
Persistent link: https://www.econbiz.de/10012765186
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On-the-job search and the cyclical dynamics of the labor market
Krause, Michael U.; Lubik, Thomas A. - 2007
We show how on-the-job search and the propagation of shocks to the economy are intricately linked. Rising search by employed workers in a boom amplifies the incentives of firms to post vacancies. In turn, more vacancies increases job search. By keeping job creation costs low for firms,...
Persistent link: https://www.econbiz.de/10011604825
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Monetary Policy According to HANK
Kaplan, Greg - 2016
We revisit the transmission mechanism of monetary policy for household consumption in a Heterogeneous Agent New Keynesian (HANK) model. The model yields empirically realistic distributions of household wealth and marginal propensities to consume because of two key features: multiple assets with...
Persistent link: https://www.econbiz.de/10012992430
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The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics
Christoffel, Kai; Linzert, Tobias - 2005
In this paper we incorporate a labor market with matching frictions and wage rigidities into the New Keynesian business …
Persistent link: https://www.econbiz.de/10011604602
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Price Drift Before U.S. Macroeconomic News : Private Information About Public Announcements?
Kurov, Alexander - 2016
on average for about half of the total price adjustment. These results imply that some traders have private information … information leakage and superior forecasting based on proprietary data collection and reprocessing of public information …
Persistent link: https://www.econbiz.de/10012992424