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Levine, David K. - 2010

More advanced technologies demand higher degrees of specialization - and longer chains of production connecting raw inputs to final outputs. Longer production chains are subject to a "weakest link" effect: they are more fragile and more prone to failure. Optimal chain length is determined by the...

Persistent link: https://www.econbiz.de/10013135410

The Impact of the Crisis on Employment and the Role of Labour Market Institutions

Eichhorst, Werner - 2010

The paper takes a comparative perspective on the labour market impact on G20 and EU countries of the financial and …

Persistent link: https://www.econbiz.de/10013135827

The Reservation Wage Unemployment Duration Nexus

Addison, John T. - 2010

A thorny problem in identifying the determinants of reservation wages and particularly the role of continued joblessness in their evolution is the simultaneity issue. We deploy a natural control function approach to the problem that involves conditioning elapsed duration on completed...

Persistent link: https://www.econbiz.de/10013139949

The Cyclical Behavior of Equilibrium Unemployment and Vacancies in the Us and Europe

Justiniano, Alejandro - 2012

-Saxon countries (the US and the UK), two Continental European countries (France and Germany) and two Scandinavian countries (Norway … probabilities observed in US, with mixed success in Europe. In contrast, matching shocks and job destruction shocks play a larger … role in most European countries relative to the US …

Persistent link: https://www.econbiz.de/10013114011

Demography, Capital Flows and Unemployment

Marchiori, Luca - 2011

unemployment, which we calibrate on EU15 and US data. Labor market imperfections are found to significantly increase the volume of …

Persistent link: https://www.econbiz.de/10013118521

Animal Spirits, Financial Crises and Persistent Unemployment

Farmer, Roger E. A. - 2011

This paper develops a rational expectations model with multiple equilibrium unemployment rates where the price of capital may be unbounded above. I argue that this property is an important feature of any rational-agent explanation of a financial crisis, since for the expansion phase of the...

Persistent link: https://www.econbiz.de/10013123693

Does European Unemployment Prop Up American Wages?

Davis, Donald R. - 2011

We consider trade between a flexible wage America and a rigid real wage Europe. In a benchmark case, a move from autarky to free trade doubles the European unemployment rate, while it raises the American unskilled wage to the high European level. Entry of the unskilled South to world markets...

Persistent link: https://www.econbiz.de/10013125263

Labor Market, Financial Crises and Inflation : Jobless and Wageless Recoveries

Calvo, Guillermo A. - 2012

This paper uses a sample of 116 recession episodes in developed and emerging market economies to compare the labor-market recovery during financial crises with that of other recession episodes. It documents two new stylized facts. First, labor-market recovery from financial crises is...

Persistent link: https://www.econbiz.de/10013099123

How Do the Unemployed Search for a Job? Evidence from the EU Labour Force Survey

Bachmann, Ronald - 2012

Using harmonized micro data, this paper investigates the job search behaviour of the unemployed in Europe. The analysis focuses on the importance of individual and household characteristics in this context, as well as on cross-country differences in Europe. Our findings suggest that both...

Persistent link: https://www.econbiz.de/10013099811

Asymmetric Labor Market Institutions in the Emu and the Volatility of Inflation and Unemployment Differentials

Abbritti, Mirko - 2012

How does the asymmetry of labor market institutions affect the adjustment of a currency union to shocks? To answer this question, this paper sets up a dynamic currency union model with monopolistic competition and sticky prices, hiring frictions and real wage rigidities. In our analysis, we...

Persistent link: https://www.econbiz.de/10013107467