Showing 1 - 10 of 17
Japan faces the problem of how to finance retirement, health, and long-term care expenditures as the population ages. This paper analyzes the impact of policy options intended to address this problem by employing a dynamic general equilibrium overlapping generations model, specifically...
Persistent link: https://www.econbiz.de/10011978385
This paper studies the macroeconomic effects and sequencing of (LMRs) and product (PMRs) market reforms in Morocco. It finds that introducing LMRs and PMRs simultaneously would add about 2.5 percentage points (pp) of GDP growth and reduce unemployment by about 2.2 pp after five years. If...
Persistent link: https://www.econbiz.de/10012122485
The paper studies the employment effects of a deposit-refund scheme on labor in a simple search-theoretic model of the labor market. It is shown that if a firm pays a deposit to the government when it fires a worker, to be refunded when it employs the same or another worker, the vacancy rate...
Persistent link: https://www.econbiz.de/10014399924
We study a model where an employer, trying to fill a vacancy, engages in optimal sequential search by drawing from two subpopulations of candidates who differ in their ""discourse systems"": during an interview, a minority candidate with a discourse system not shared with the employer conveys a...
Persistent link: https://www.econbiz.de/10014399671
Germany''s export market share increased since 2000, while most industrial countries experienced declines. This study explores four explanations and evaluates their empirical contributions: (i) improved cost competitiveness, (ii) ties to fast growing trading partners, (iii) increased demand for...
Persistent link: https://www.econbiz.de/10014400227
Legally mandated reductions in the workweek can be either a constraint on individuals'' choice or a tool to coordinate individuals'' preferences for lower work hours. We confront these two hypotheses by studying the consequences of the workweek reduction in France from 39 to 35 hours, which was...
Persistent link: https://www.econbiz.de/10014400283
A reduction in the legal workweek may induce a degree of downward wage flexibility, while an employment subsidy to firms accommodates downward wage rigidity. It may be possible, therefore, to increase employment with a policy that combines a reduction in the workweek with an employment subsidy....
Persistent link: https://www.econbiz.de/10014400528
Alexander Hamilton was the first U.S. Treasury Secretary from 1789 to 1795. When he started, the Federal Government was in default. During his tenure, U.S. Treasuries became the ultimate safe asset. He successfully managed expectations, achieved debt service reduction, and stabilized financial...
Persistent link: https://www.econbiz.de/10014411690
Banks' living wills involve both recovery and resolution. Since it may not always be clear when recovery plans or actions should be triggered, there is a role for an objective metric to trigger recovery. We outline how such a metric could be constructed meeting criteria of (i) adequate loss...
Persistent link: https://www.econbiz.de/10011408292
Nonviable 'zombie' firms have become a key concern in China. Using novel firm-level industrial survey data, this paper illustrates the central role of zombies and their strong linkages with stateowned enterprises (SOEs) in contributing to debt vulnerabilities and low productivity. As a group,...
Persistent link: https://www.econbiz.de/10011763820